The Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations of sales practice violations by Rodney D. Potratz (CRD#: 2367896, Clive, Iowa). Apparently, the securities broker, who joined FSC Securities Corporation in 2003 and who works in its California and Iowa offices, is subject of two investor disputes. Notably, these disclosures suggest that Potratz recommended bad investments which caused big losses for his clients. Here’s more:
Apparently, a client of FSC Securities Corporation contested Rodney Potratz’s investment advice by filing a FINRA Arbitration Claim #: 19-03409 on November 21, 2019. Mainly, the client alleged that Potratz recommended unsuitable DPP or LP interests. It appears that the stockbroker failed to consider the client’s risk tolerance or objectives when making recommendations. For this reason, the client alleged $6,000,000 in damages in this ongoing matter.
Previously, a client of AXA Advisors LLC and FSC Securities Corporation took aim at Rodney Potratz’s recommendations of mutual funds, annuities and direct investments for the client. It appears that this lawsuit, brought in 2012, alleged that his investment advice was inappropriate and unsuitable for several years. Not only that, but it seems that the client did not authorize Potratz to initiate securities purchases. Because of this, FSC Securities Corporation or AXA Advisors paid the client $30,000 to settle this matter.
Have you sustained losses by investing with Rodney Potratz? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Potratz and his employers.
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