Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Jumalon (Jumalon), previously associated with Navy Federal Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Jumalon 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 $11,100.00 on January 25, 2024.
[REDACTED] met with Chris Jumalon, Financial Advisor, on 04/18/2023. His goal was to move 300K into 3 investment strategies. 100K to managed account, 100K to 5-year Fixed Annuity(FA) with Brighthouse and 100K to 3 year FA with Brighthouse. Mr. Jumalon followed through on establishing the 100K managed account but failed to process paperwork for both annuity contracts. The failure to process the paperwork was identified on 1/25/2024. [REDACTED] decided to move forward with the 100K Brighthouse 5 year FA, and paperwork was submitted on 10/16/2023. [REDACTED] decided he did not want to invest the remaining 100K to the second Brighthouse FA and requested funds be moved to Navy Federal Investment Services (NFIS) Digital investor. NFIS waived the trading fee for [REDACTED]. [REDACTED] was compensated $11,110 for the time period the funds were not invested and loss of interest earned.