Broker Matt Baltz Possibly Misrepresented Annuities
Investors have come forward with complaints and disputes in regard to securities representative Matt Baltz (CRD#: 2635133, Auburn, California). Namely, the broker, who worked for Brecek and Young, Legacy Financial Services and Securities America, reports that three of his clients complained about him. Notably, these disputes raise questions about Baltz making unsuitable and misrepresented sales of annuities.
Brecek Client Alleges Matt Baltz Misrepresented Annuity
Apparently, a Brecek and Young client brought a dispute about Matt Baltz on December 19, 2018. Mainly, the client alleged that Baltz failed to be straight forward about the annuity, as there were misrepresentations the broker supposedly made about the benefits. It is possible that Baltz falsified information or somehow misled the client regarding this variable annuity. For this reason, the client alleged $124,972.24 in damages. Evidently, this matter is awaiting a resolution.
Securities America Investor Also Alleges Misrepresentation
Evidently, a second client of Securities America, Inc. brought a dispute about Matt Baltz on April 18, 2018. Similar to the Brecek client, this Securities America client alleged misrepresentation. Supposedly, Baltz made inaccurate or unwarranted statements about a Guaranteed Minimum Withdrawal Benefit. Supposedly, this GMWB rider did not function the way that Baltz led the client to believe. For this reason, on May 7, 2019, Securities America, Inc. settled this matter through a payment of $100,638.87 in damages.
Legacy Financial Services Client Indicates Matt Baltz Sold Bad Investments
A client of Legacy Financial Services disputed Matt Baltz’s sales practices on October 14, 2016. Namely, the client alleged that Baltz sold real estate security products which were unreasonable and inappropriate for the client. Apparently, Baltz failed to take into account the client’s objectives, needs or other investment circumstances. The client requested compensation; however, Legacy Financial Services denied the claim.
Lars Soreide Highest Ethical Standard Award 2018
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