InterCarolina Financial Services Tag Archives

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Ng (Ng), currently associated with Intercarolina Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ng recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $18,600.00 on July 11, 2024.

During Sept. 2016, claimants [REDACTED] each purchased shares of MVP REIT II in the amount of $15,000\<char_lb_r>\, thru Eric Ng a Reg. Rep. of our firm. On Jan. 1, 2020, the total value of the shares for each claimant was $ 16,311. On April 1, 2023, each\<char_lb_r>\, claimants shares were valued at $ 9608. On June 5, 2023 FINRA served us with the [REDACTED] claim. On Aug. 4, 2023 the value of the shares for each claimant was $ 9591. Unfortunately, the claimants’ attorney did not sell the shares on Aug. 4th but waited until Sept. 18, 2023 when the \<char_lb_r>\, value of the shares for each claimant had declined to $5695. During the arbitration we intend to show that the attorney for the claimants incompetence caused the loss for each claimant to be $ 9305 instead of $ 5409. We also intend to illustrate that the MVP REIT II was an\<char_lb_r>\, appropriate investment for the claimants.

According to broker Adamson Wright’s (Wright) Financial Industry Regulatory Authority (FINRA) BrokerCheck records the representative was recently sanctioned concerning allegations that from May 2010 through February 2011, he effected approximately 249 mismarked order tickets as being “unsolicited” orders when the trades were “solicited” causing the firm to maintain inaccurate books and records.

Respondent Wright entered the securities industry in 1995 with UBS Financial Services Inc. until January 2010. In January 2010, Wright became registered with Ameriprise Financial Services, Inc. (Ameriprise) and then was terminated from Ameriprise in June 2011. In July 2011, Wright became registered with InterCarolina Financial Services Inc.

In addition, at least five customer complaints have been filed against Wright alleging unsuitable investments and unauthorized discretionary trading. These complaints include allegations involving unsuitable options trading. Two clients alleged an unsuitable purchase of China Agritech (CAGC). The number of complaints made by investors against Wright is relatively large by industry standards. According to InvestmentNews, only about 12% of financial advisors have any type of disclosure event on their records. Far fewer brokers have multiple customer complaints approaching the number of complaints made against Wright. Brokers must disclose different types of events, not necessarily all of which are customer complaints. These disclosures can include IRS tax liens, judgments, and even criminal matters.

Articles Tagged with InterCarolina Financial Services

There are Recent Customer Complaints with Broker Eric Ng in Firm Intercarolina Financial Services, INC.

Broker Adamson Wright Alleged to Mismarked Options Trades