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.
Customer alleges that registered representative invested customer in long term certificates of deposit (CDs) without providing customer the CD maturity dates at the times of purchase. Timeframe: 6/10/2020 to 2/10/2022.
7/20/2009
Customer Dispute
Denied
Allegations
CLIENT ALLEGES THAT REGISTERED REPRESENTATIVE NEVER ADVISED THAT CLIENT WAS INVESTING IN JUNK BONDS. ACTIVITY PERIOD: 12/11/06 THROUGH 7/2/07.
Damage Amount Requested
$5,000.00
8/22/2007
Customer Dispute
Closed-No Action
Allegations
CLIENT'S SON-IN-LAW COMPLAINS THAT A BOND THE IE RECOMMENDED TO THE CLIENTS WAS UNSUITABLE BECAUSE IT LOST SO MUCH MONEY. VERBAL COMPLAINT RECEIVED 4/10/2007. ALLEGATIONS DENIED BY FIRM ON 5/21/2007. WRITTEN COMPLAINT RECEIVED 8/22/2007.
Damage Amount Requested
$9,305.00
Broker Comment
THE DURA BOND INVESTMENT WAS CONSISTENT WITH THE CLIENT'S OBJECTIVES. THE BOND WAS FULLY EXPLAINED AND THE PURCHASE AUTHORIZED BY CLIENT. CLIENT WANTED ABOVE AVERAGE INCOME DURING A LOW INTEREST RATE ENVIRONMENT. OTHER INVESTMENTS IN THE ACCOUNT WERE ALSO BELOW INVESTMENT GRADE AND PERFORMED WELL. DURA BOND WAS SOLD AT A LOSS IN DECEMBER, 2006, PROVIDING CLIENT WITH USE OF A TAX LOSS IN THAT YEAR AND LOSS CARRY FORWARD BENEFIT FOR THE FUTURE. CLIENT'S SON-IN-LAW WAS NOT AWARE OF THE CONDITIONS AT THE TIME OF THE DURA PURCHASE. ON JANUARY 5, 2007 CLIENT EXPRESSED COMPLETE SATISFACTION WITH INVESTMENTS:
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.