Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Caldwell (Caldwell), previously associated with Allstate Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Caldwell recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on November 27, 2023.
Claimants allege the Individual account that was set up for their mother in June 2022 through Allstate Financial Services, LLC was not set up properly as they were not named as beneficiaries like they were on the account held at the previous firm, prior to a transfer. Claimants also allege investments were unsuitable and claim misrepresentation (omission of material facts – omitting beneficiaries).