Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Onassis Burress (Burress), previously associated with First Citizens Investor Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Burress 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 $8,146.77 on January 06, 2022.
Registered Rep Onassis Burress recommended the client rollover her appx $50K retirement account into the GALIC Index Summit 6 annuity in November 2020. The annuity contract was signed December 31, 2020. The funds rolled over into the account on February 5, 2021 but remained in the sweep account and were never placed in the annuity as planned. Client requested compensation for the lost earnings that she would have received if the funds had been invested as instructed. First Citizens Investor Services settled this matter via Restorative Payment in the amount of $8146.77 on March 4, 2022.