Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Mark Douglas Erwin (CRD: 3039639, Napa, California). Erwin has been registered with Commonwealth Financial Network since January 5, 2006, and has over 26 years of experience in the financial industry. Recent disclosures reveal concerns about Erwin’s conduct, including allegations of unauthorized distributions and unsuitable investment recommendations.
On November 1, 2023, a client of Commonwealth Financial Network filed a dispute against Erwin, alleging that he allowed her husband to make distributions from her account without proper authorization. The client claimed that despite receiving transaction-related emails and personally communicating with Erwin, she was unaware of the withdrawals. She alleged damages of $144,448.24. On January 22, 2024, Commonwealth Financial Network settled the case for $57,500. Erwin stated that the client had received transaction confirmations and email notifications and that his broker-dealer opted for settlement to avoid litigation costs. He did not personally contribute to the settlement amount.
On November 16, 2012, another client filed a dispute against Erwin, alleging that the investment portfolio he managed was too aggressive and included risky stocks. The client sought damages of $15,000. However, Erwin refuted these claims, stating that the stocks in question had been purchased by the client and transferred into the portfolio. Commonwealth Financial Network denied the claim on November 19, 2012, concluding that the investments were suitable for the client’s risk tolerance.
Looking for more information about Mark Erwin? If so, reach out to Soreide Law Group online or at (888) 760-6552 to consult with a securities lawyer. The team at Soreide Law Group works on a contingency basis, advances all costs, and assists investors across the country with recovering losses from sales practice misconduct. Erwin and Commonwealth Financial Network deny accusations of sales practice violations.
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