Park Avenue Securities’ Robert Wynn Involved In Investors’ Suitability Disputes
Investors have come forward to challenge the sales practices of securities broker Robert Charles Wynn (CRD#: 2458453, Glendale, California). The securities broker, who worked for securities firm Park Avenue Securities from 1999 to 2017, is involved in at least seven investor disputes. Notably, investors allege in these disputes that Wynn initiated unsuitable or unauthorized transactions. Here’s more.
Park Avenue Securities Client Indicates That Robert Wynn Placed Their Assets In Unsuitable Stock
It appears that a Park Avenue Securities client came forward with a dispute about Robert Wynn in June 2020. In this FINRA Arbitration Claim, the client alleges that Wynn invested their money inappropriately. Mainly, Wynn supposedly invested their assets in a way that did not match up with their investment objectives. For this reason, the client received a $50,000 payment from Park Avenue Securities in this September 2020 settlement.
Wynn Supposedly Sells Unsuitable Fixed Annuity To Investor
The second most recent dispute concerns Robert Wynn’s sale of a fixed indexed annuity. Particularly, in the June 2018 dispute, the client stressed that Wynn sold a fixed annuity that was not suitable for them. It is possible that Wynn arranged for the client to purchase this product away from Park Avenue Securities. Evidently, Park Avenue Securities denied this client’s dispute.
Park Avenue Securities Client Alleges That Robert Wynn Made Unauthorized Trades
Notably, a client of Park Avenue Securities indicated in a June 2017 dispute that Robert Wynn made unauthorized trades. Supposedly, Wynn made a number of stock trades for the client’s Park Avenue Securities brokerage account. Not only that, but he also appears to have made unsuitable transactions. Because of this, Park Avenue Securities agreed to compensate the client in the amount of $75,000 in July 2017.
Prior Disputes About Wynn
In a prior dispute about Robert Wynn, a client alleged that Wynn sold an annuity that was not good for the client given their financial status. However, that dispute was withdrawn by the client. There is also a dispute containing allegations of Wynn misrepresenting information in connection with the client’s mutual fund, variable life insurance and variable annuity purchases. That dispute also alleged a breach of fiduciary duty by the securities broker. Because of this, the client received $32,000 in a settlement.
Losses By Investing Through Robert Wynn?
Have you experienced losses because of Robert Wynn? If so, touch base with Soreide Law Group at (888) 760-6552 about a possible recovery of your investment losses. Soreide Law Group represents investors on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for those who have suffered losses due to the wrongdoing of financial advisors and securities brokers. FINRA BrokerCheck indicates that Wynn denies all allegations of his sales practice violations.