RedFlags, Allegations and Complaints against BRYAN SCOTT FOSTER
Disclosure #1 for BRYAN FOSTER
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- eventDate: 3/15/2004
- Disclosure Type: Customer Dispute
- Disclosure Resolution: Settled
- Disclosure Detail :: Allegations: CUSTOMER ALLEGES SHE WAS MISINFORMED BY SCHWAB REPRESENTATIVE, BRYAN FOSTER AND HER OUTSIDE, INDEPENDENT FINANCIAL ADVISOR [THIRD PARTY ABOUT THE TAXABLE CONSEQUENCE OF TRANSFERRING HER ALLSTATE ANNUITY TO SCHWAB, WHICH RESULTED IN A TAX OBLIGATION OF $15,000.00. SHE CLAIMS MR. FOSTER AND THE ADVISOR TOLD HER THE TAX OBLIGATION WOULD BE $1,000.00.
- Damage Amount Requested: $15,000.00
- Settlement Amount: $13,000.00
- Arbitration Docket Number:
- Broker Comment: AFTER THE INVESTIGATION MY BRANCH MANAGER AS WELL AS MY RVP FEEL THAT I DID NOTHING WRONG IN THIS SITUATION. THE CLIENT WAS INVOLVED WITH AN ADVISOR THAT WAS A CPA, CFA, CFP AND JD THAT TOLD ME WHAT THE TAXES WERE. DUE TO HIS LEVEL OF HIS EXPERTISE I INITIATED THE TRANSFER OF THE ANNUITY, BECAUSE HE STATED TAXES WOULD BE AROUND $1000 AND SAID LET’S TAKE IT. THE CLIENT FIRED THE ADVISOR BECAUSE OF THIS SITUATION AND OF HER LACK OF CONFIDENCE IN THE ADVISOR’S ADVICE, BUT STILL IS A CLIENT OF SCHWAB. THE CLIENT ALSO ORIGINALLY STATED TO MY BRANCH MANAGER THAT I WAS AN HONEST PERSON AND DID NOT HOLD ME AT FAULT. FINALLY I RECEIVED NO COMPENSATION FOR THOSE ASSETS COMING OVER IN A REGULAR BROKERAGE ACCOUNT VERSUS A 1035 EXCHANGE, SO I HAD NOTHING TO GAIN FROM IT.
Should I file a FINRA complaint against brokers like BRYAN SCOTT FOSTER?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
Update – 2022.11.15If you have suffered investment losses that may have been caused by BRYAN SCOTT FOSTER’s negligence or fraud, contact a FINRA lawyer today. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. Kindly add a comment, or contact us directly if you have any query, or want to be contacted by a FINRA lawyer today!
Frequently Asked Questions About BRYAN SCOTT FOSTER
What is BRYAN FOSTER’s Central Registration Depository (CRD) Number?
Which firm is BRYAN SCOTT FOSTER associated with?
LPL FINANCIAL LLC
Where is BRYAN FOSTER located?
28411 NORTHWESTERN HWY #1200, SOUTHFIELD, MI, 48034
Where can I find more details about BRYAN FOSTER’s Investment Firm?
Visit https://brokercheck.finra.org/firm/summary/6413 to read a detailed report for LPL FINANCIAL LLC
Are there any disclosures, allegations or complaints filed against BRYAN SCOTT FOSTER?
Where can I download a detailed FINRA report for BRYAN FOSTER?
Is it safe to do business with BRYAN SCOTT FOSTER?
We’re not sure. Please research BRYAN FOSTER’s disclosures, allegations and complaints before taking a decision
Originally reported on November 16, 2022 @ 12:41 am
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