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Claimant alleges he told the Financial Advisor that he did not want his funds subject to market risk. Claimant further alleges that in April 2015 the Financial Advisor recommended mutual funds that have declined in value by approximately $45,000.00.
Damage Amount Requested
$45,000.00
Settlement Amount
$8,500.00
Broker Comment
After completion of the firm's investigation into client's allegations, claim was denied on 12/15/15. Client filed arbitration and the Firm was served on 02/24/16.
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.
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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.