According to the Financial Industry Regulatory Authority broker Jeffery A. Fladell (Fladell) has seven (7) customer complaints on his record. Fladell has reportedly been subject to multiple investigations and settlements since 1987. The complaints filed against Fladell reportedly allege churning, excessive trading and unsuitable investments for clients.
In 2014, a customer complaint against Fladell alleged that he made unsuitable investments and over concentrated the customer’s account in municipal bonds, which was adverse to the customers investment objectives. The customer was granted $75,000 in damages. In 2013, another complaint alleging similar misconduct reportedly settled for $1 million. Fladell first began working in the securities industry in 1970. Fladell was previously registered with J.B. Hanauer & Co. from 1995 up to 2009. He is currently registered with RBC Capital Markets in New Jersey.
When a broker recommends that a client purchase or sell a security, the broker must have a reasonable basis for believing that the recommendation is suitable for the investor. In making this assessment, a broker must consider the investors income and net worth, investment objectives, risk tolerance, and other security holdings.
If you believe you have been the victim of stockbroker misconduct, you may wish to consult an attorney to find out more about your legal rights and options. Investors may contact a securities arbitration attorney at Law Office of Christopher J. Gray, P.C. at (866) 966-9598 or email@example.com for a no-cost, confidential consultation.