Andrew Murdoch Tied To Somerset Securities Inc. Investor’s Unsuitable Advice Arbitration Claim

Investors apparently complained about securities broker Andrew Templeton Murdoch [CRD: 4348536, Portland, Oregon], given the publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Murdoch has been registered with Somerset Securities Inc. since July 16, 2019, and was previously associated with Somerset Wealth Management LLC from August 1, 2019, to August 30, 2022. Continue reading to learn more about the reported disclosures involving this broker.

Somerset Securities Investor Accused Murdoch Of Sales Practice Violations

A client of Somerset Securities Inc. filed FINRA Arbitration No. 24-000137 concerning Andrew Murdoch. The claim alleged that Murdoch recommended an investment in an iCap Equity private placement that was unsuitable, noting that the issuer later filed for bankruptcy on September 12, 2023. As a result, the client reported losses tied to private placements. On March 25, 2024, the firm resolved the matter by paying $150,359.00 to the client.

Andrew Murdoch Disclosed Unsuitable Recommendations Allegations By Somerset Securities Client

In another matter, a client of Somerset Securities Inc. challenged Murdoch’s handling of investments through FINRA Arbitration No. 23-03533. The allegations indicate that Murdoch recommended a private placement involving iCap Equities, which subsequently declared bankruptcy on September 12, 2023. The client claimed damages connected to private placements. The firm ultimately settled the dispute on March 25, 2024, with a payment of $20,000 to the client.

Were You Impacted By Financial Advisor / Securities Broker Murdoch?

Do you have questions or concerns regarding investments you made with Andrew Murdoch? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group has recovered losses for many clients throughout the United States. Also, the firm works on a contingency fee basis and advances all costs. Murdoch and brokerage firms Murdoch worked for deny any accusations of sales practice violations.