RedFlags, Allegations and Complaints against STEPHEN A DILLEMUTH
Disclosure #1 for STEPHEN DILLEMUTH
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- Event Date: 1/30/2017
- Disclosure Type: Customer Dispute
- Resolution: Denied
- Allegations: THE CLIENT ALLEGED THAT HER ADVISOR USED HER SIGNATURE FROM ANOTHER FORM TO ESTABLISH A 7 YEAR ANNUITY AND TOLD HER THAT THE POSITION WOULD BE LIQUID AND AVAILABLE TO HER.
- Arbitration Docket Number:
- Broker Comment: I WAS DISAPPOINTED TO LEARN ABOUT MY FORMER CLIENT’S ALLEGATIONS REGARDING THE USE OF A COPY OF HER SIGNATURE TO PURCHASE AN ANNUITY WITHOUT HER CONSENT. THIS ALLEGATION IS FALSE AND UNSUBSTANTIATED. THE EVIDENCE THAT WILL BE PROVIDED WILL PROVE THAT HER CLAIM DOES NOT HAVE MERIT. ACCORDINGLY I WILL BE REQUESTING AN EXPUNGEMENT OF THIS ALLEGATION BASED ON THE OVERWHELMING EVIDENCE THAT WILL PROVE MY CLIENT’S ALLEGATIONS ARE FALSE. OVER THE LAST TWO YEARS MY CO-ADVISOR AND I HAVE HAD SEVERAL CONVERSATIONS WITH OUT CLIENT ABOUT HER ACCOUNT RELATIONSHIP INCLUDING THE EXISTENCE OF THE ANNUITY AND ITS REMAINING SURRENDER PERIOD. DOCUMENTATION REGARDING THE EXISTENCE OF THE ANNUITY WAS PROVIDED TO THE CLIENT ON NUMEROUS OCCASSIONS. IN REGARD TO THE ANNUITY WE MADE A RECOMMENDATION TO INVEST APPROXIMATELY 25% OF HER INVESTABLE ASSETS IN AN ANNUITY THAT HAD A PRINCIPAL BACK GUARANTEE WHICH WAS CONSISTENT WITH HER FINANCIAL GOALS, TIME FRAME AND TOLERANCE FOR RISK AT THE TIME OF PURCHASE. THERE WAS NEVER A CLAIM BY THE CLIENT THAT THIS INVESTMENT WAS UNSUITABLE FOR HER NEEDS. APPROXIMATELY ONE YEAR AFTER THE PURCHASE OF THE ANNUITY SHE ASKED US FOR ADVICE REGARDING THE SALE OF SOME OF HER ASSETS IN CONNECTION WITH THE PURCHASE OF A PIECE OF REAL ESTATE. DURING SEVERAL CONVERSATIONS SHE INQUIRED AS TO THE SALE OF THE ANNUITY. WE ADVISED HER THAT IT WOULDN’T BE COST EFFECTIVE TO BREAK THE ANNUITY BECAUSE OF THE REMAINING SURRENDER PERIOD AND ASSOCIATED SURRENDER CHARGES. WE REMINDED HER WHY THE ANNUITY WAS ORIGINALLY PURCHASED.
Should I file a FINRA complaint against brokers like STEPHEN A DILLEMUTH?
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 STEPHEN A DILLEMUTH’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 STEPHEN A DILLEMUTH
What is STEPHEN DILLEMUTH’s Central Registration Depository (CRD) Number?
Which firm is STEPHEN A DILLEMUTH associated with?
LPL FINANCIAL LLC
Where is STEPHEN DILLEMUTH located?
740 SE INDIAN STREET, STUART, FL, 34997
Where can I find more details about STEPHEN DILLEMUTH’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 STEPHEN A DILLEMUTH?
Where can I download a detailed FINRA report for STEPHEN DILLEMUTH?
Is it safe to do business with STEPHEN A DILLEMUTH?
We’re not sure. Please research STEPHEN DILLEMUTH’s disclosures, allegations and complaints before taking a decision
Originally reported on November 16, 2022 @ 12:42 am
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