According to records kept by The Financial Industry Regulatory Authority (FINRA) financial advisor Patrick Mendenhall (Mendenhall), currently associated with U.S. Capital Wealth Advisors, LLC and USCA Securities LLC, has at least four disclosable events. These events include four customer complaints alleging that Mendenhall recommended unsuitable investments in different investment products.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000,000 on January 12, 2024.
Client is a sophisticated investor with decades of experience recruiting for the financial services industry, experience investing in options, stocks, private placements, and hedge funds, and a thirty-year relationship with Mr. Mendenhall. In connection with the account in question, the client indicated a net worth of over $20 million, an aggressive risk tolerance, and a primary objective of capital appreciation. The Client complains of losses and missed opportunity related to a specific stock (and options on that stock) in a specific account. The stock was first purchased by the client over eight years ago. The Client maintained other accounts with the firm and overall had gains while at the firm. The client was actively involved in managing the stock and all transactions were discussed with the client.
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