Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dale Walts (Walts), previously associated with Gwn Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Walts 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 $10,596.00 on July 21, 2020.
During the fall of 2019 the client met the with representative for their review. Part of the review was a discussion surrounding the clients 403b loan amount. The representative made an erroneous recommendation to the client on how to pay off the loan which in turn created a tax liability for the client in 2020. The representative filed an E&O claim with both the BD’s policy and an additional active policy he had with his previous firm. Both E&O carriers have resolved the claim with the client.