Clients of JOSEPH IJONG CHU

Soreide Law Group is investigating claims made against the broker/financial advisor, formerly of MERRILL LYNCH, PIERCE, FENNER & SMITH INC. Greenwich, Connecticut, and currently with RBC CAPITAL MARKETS, LLC of Stamford, Connecticut:
JOSEPH IJONG CHU (CRD#: 4546805)
There was a claim filed recently against Merrill Lynch and RBC Capital Markets on behalf of investors seeking $1,000,000 claiming alleged breach of fiduciary duty by broker/financial advisor, JOSEPH IJONG CHU.  These investors allegedly had discretionary accounts that were mishandled by Chu. Discretionary accounts allow the broker or financial advisor to buy and sell securities without the client’s consent for each trade and the consent is authorized by the client in writing. Allegedly, the clients were looking to invest in low-risk investments but instead claim that Chu allegedly invested in high risk energy and materials stocks. Firms are also responsible to supervise the management of their clients’ discretionary accounts.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, on August 4, 2020, there was a FINRA Customer Dispute filed against Chu alleging, “Claimant contends Respondent recommended unsuitable investments in oil-producing and industrial metals & materials stocks leading to an over concentration in those sectors which was outside of their investment objectives. Claimants allege the accounts declined in value from September 2018 through January 20, 2020.”  The damage amount requested is $1,600,000.00. This dispute is pending.
On July 9, 2020, there was a Customer Dispute filed against JOSEPH IJONG CHU, claiming, “Claimaints are alleging that the Financial Advisor misrepresented the risk of allocation in Energy and Material sectors investments and over concentrated the Claimant's accounts in highly volatile investments.” This dispute, which is pending, has a damage amount request of $500,001.00.
According to FINRA’s BrokerCheck, JOSEPH IJONG CHU, has been in the securities industry for 18 years and has been with 2 firms.  He is currently listed with the following firm since 8/29/2018: 
RBC CAPITAL MARKETS, LLC
3 LANDMARK SQUARE SUITE100
STAMFORD, CT 06901-2514
He was previously listed with:
08/20/2002 - 08/30/2018  MERRILL LYNCH, PIERCE, FENNER & SMITH INC. - GREENWICH, CT
If you’ve experienced financial losses due to alleged actions or recommendations by broker/financial advisor JOSEPH IJONG CHU currently of RBC Capital and formerly of Merrill Lynch, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.