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The client alleges that the financial advisor did not adequately describe the mutual fund purchased on August 21, 2021.
Damage Amount Requested
$17,000.00
Settlement Amount
$7,495.95
Broker Comment
After completion of the firm's investigation, client's claim was resolved in the amount of $7,495.95. Financial advisor contributed to the resolution in the amount of $749.59.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.