When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
Client alleges that the liquidation of an equity holding was unauthorized.
Damage Amount Requested
$5,000.00
Damages Granted
$10,000.00
Broker Comment
I inherited the account of the claimant in this matter from a retiring representative. This claimant was critical of the principals of balance and diversification that I suggested, even though application avoided over $70,000 in losses. The claimant unilaterally chose a special "small case" arbitration process where all matters were decided on papers written by lawyers, and I had no opportunity to testify or cross examine the claimant. The $10,000 round award is simply arbitrary, and has no relation to any facts or circumstances in the case. As noted above, the diversification and balance implemented in the Claimant's account avoided more than $70,000 in losses that would have occurred in the eight-month period before the Claimant moved his account.
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.
Loading...
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.