Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Palumbos (Palumbos), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Palumbos recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on July 26, 2020.
The clients allege the RR provided a poor recommendation in regard to surrendering four annuities in May of 2019, as the resulting tax impact was greater than expected.