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The client alleges the financial advisor's advice to take funds from a home loan to invest in the market was not suitable.
Damage Amount Requested
$72,160.62
Settlement Amount
$45,844.82
Broker Comment
After completion of the firm's investigation, the client's claim was resolved in the amount of $45,844.82. The financial advisor was required to contribute $4,584.48 to the resolution.
12/14/2015
Customer Dispute
Denied
Allegations
The client alleges the financial advisor provided a poor recommendation to purchase Kinder Morgan stock in November 2015.
Damage Amount Requested
$5,000.00
Broker Comment
Following the firm's investigation into the client's allegations, the complaint was denied.
12/5/2013
Customer Dispute
Denied
Allegations
FROM AUGUST 26, 2013 TO SEPTEMBER 27, 2013 CLIENT ALLEGES THE SELLS OF MUTUAL FUNDS IN AUGUST, 2013 CONSTITUTED POOR ADVICE/POOR RECOMMENDATION.
Damage Amount Requested
$5,500.00
Broker Comment
AFTER COMPLETION OF THE FIRM'S INVESTIGATION INTO CLIENT'S ALLEGATIONS, THE CLAIM WAS DENIED
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.