Investor dispute information is reported on FINRA BrokerCheck concerning securities broker Nicholas McMahan, also known as “Nick McMahan” (CRD#: 5578896, Austin, Texas). Evidently, McMahan worked for BBVA Compass Investment Solutions (2011 to 2013), BBVA Securities (2013 to 2021), and BBVA Wealth Solutions (2017 to 2021) before joining Hilltop Securities as both a financial advisor and securities broker in June 2021. Notably, investor disputes contain allegations of sales practice violations concerning the broker. The following information reflects a summary of those disclosures.
Evidently, a client of BBVA Securities disputed Nick McMahan’s sales practices in August 2021. This complaint concerns the client’s purchase of non-principal protected structured notes. Apparently, the client purchased the investment in July 2018, and it matured in 2021. Because the notes supposedly reached a “principal barrier” at maturity, the client experienced losses. Also, McMahan purportedly told the client that they would get their principal back. It appears that without admitting to any wrongdoing, BBVA Securities settled this matter by making a $18,588 payment to the client in August 2021.
Also, a client of BBVA Securities complained about Nick McMahan’s structured product sales in June 2020. Notably, the client contends that McMahan failed to explain terms and features. Supposedly, the client would not have invested in the non-principal protected structured note had they known of the risks. However, BBVA Securities denied this complaint.
Did you suffer losses because of securities broker Nick McMahan? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered substantial compensation for hundreds of United States investors who have incurred losses from their financial advisors and securities brokers. Please note that McMahan denies all allegations of his sales practice violations.
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