The Financial Industry Regulatory Authority (“FINRA”) reports alarming allegations with respect to Eric Travis Roark (CRD#: 4177967, New York, New York). Not only has Ameriprise Financial Services disaffiliated with the securities broker, but two of Roark’s clients also complained about him. These disputes raise questions as to whether Roark made unauthorized transactions. Here’s more on the latest about Roark.
FINRA BrokerCheck shows that Eric Roark worked for firms including BB&T Securities, LLC (2013 to 2015), Oppenheimer & Co. Inc. (2015 to 2018) and Ameriprise Financial Services (2018 to 2020). Notably, Ameriprise discharged Roark on July 14, 2020. This is because Roark had allegedly failed to do his job correctly. Supposedly, he made fixed income securities trades that were so problematic that they violated the company’s policy.
Apparently, a client of Oppenheimer Co. took issue with Eric Roark’s actions by filing a dispute in April 2018. As reported through BrokerCheck, Roark did not sell investments when the client specifically instructed him to do so. For this reason, the client reportedly took a loss. Therefore, the client demanded compensatory relief. Oppenheimer or Roark denies these allegations.
In addition, a client of Bergen Capital contested Eric Roark’s actions in 2006. It seems that Roark gave the client bad investment advice about corporate debt products. He reportedly made excessive trades which caused the client losses. However, this matter closed with no action by the client.
Have you experienced losses by investing because of the advice of Eric Roark? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers and financial advisors like Roark.
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