Misrepresentation Claims Involving Raymond James Broker JOHN NORDEN

Soreide Law Group is reviewing possible claims of annuity misrepresentation against Raymond James Financial Services securities broker John Norden (CRD#: 2272003, Honolulu, HI), who worked at the firm from October 15, 2009 to June 1, 2018. Norden shows on his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report that at least three customers brought disputes about Norden’s sales practices.  Here is a summary of the claims involving John Norden alleging misrepresentation and unsuitability:

July 25, 2018 Complaint Involving John Norden, Misrepresentation Of Annuity

According to the firm, a customer of Raymond James Financial Services complained about Norden’s annuity sales. Allegedly, Norden sold the customer an annuity that he misrepresented at the time of the customer’s purchase. Misrepresentation typically occurs when a securities broker intends on making untrue statements or representations about significant investment-related facts, or otherwise fails to provide investors all the important information about investments. The Raymond James customer demanded $64,2000.00 as remediation for the harm. However, this matter closed without resolution on September 10, 2018.

March 23, 2017 Complaint About John Norden, Omissions About Annuity Fees

 
Norden reported on his FINRA BrokerCheck Report that Raymond James customers brought a complaint on March 23, 2017. According to the customers, Norden did not tell them about the fees of a variable annuity that they purchased. Additionally, Norden allegedly failed to act in the best interest of the clients by setting them up with joint income benefits. Also, the customers indicated that Norden misrepresented the nature or characteristics of the annuity they purchased. Because of this, the customers alleged damages which the firm predicted to be greater than $5,000.00. However, Raymond James denies the customer’s allegations.

December 19, 2008 Complaint Involving John Norden, Unsuitable ING Annuity Sale

 
A customer of Bancwest Investment Services (Norden’s prior employer) filed a complaint about Norden’s annuity sales practices. Supposedly, Norden was responsible for selling the customer a variable annuity issued by ING Golden Select. According to the customer, this annuity was not reasonable or suitable. As a result, Bancwest Investment Services agreed to compensate the customers for the harm; and Norden personally contributed to the settlement.

Currently, Norden is a general securities representative of LPL Financial LLC. Experienced losses from prior Raymond James Financial Services broker John Norden or another broker who sold you unsuitable securities? If so, contact Soreide Law Group at (888) 760-6552 and speak with our qualified counsel about a possible recovery of your losses. Soreide Law Group represents clients nationwide and only charges a fee upon recovery of losses.