Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Phillips (Phillips), currently associated with RBC Capital Markets, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Phillips recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $367,452.00 on November 06, 2020.
The claimant alleged he suffered a net loss of more than 65% of his Employee Pension IRA Account value due to the FA’s failure to properly diversify the account and by their discretionary purchase of single company stocks almost all in oil and gas or energy sectors that were not appropriate for the client’s objectives or risk tolerance.