Financial Industry Regulatory Authority (FINRA) indicates that SunTrust investors have taken issue with the sales practices of Sandra Benain McKoy (CRD#: 2954755, Tamarac, Florida). It appears that McKoy worked as a financial advisor or securities broker for SunTrust Investment Services (1997 to 2017), SunTrust Advisory Services (2016 to 2017), Citigroup Global Markets (2017 to 2019), Kovack Securities (2019 to present), and Kovack Advisors (2019 to present). Here’s a quick rundown of the three SunTrust investor disputes concerning McKoy.
In January 2020, a client of SunTrust Investment Services disputed Sandra McKoy’s sales practices regarding a variable annuity. Namely, the client claimed that McKoy misled them about the variable annuity's surrender charges. It also seems that the client did not know about the possible risks relating to the annuities, including market loss. Supposedly, this caused the client to experience damages. For this reason, they asked for compensation. However, SunTrust investment Services denied this dispute.
Evidently, a client of SunTrust Investment Services disputed Sandra McKoy’s sales practices by bringing an April 2016 FINRA Arbitration Claim. Mainly, the client stressed that McKoy provided unsuitable advice regarding a variable annuity and mutual fund. It seems that SunTrust Investment Services opted to settle this matter by paying the client $50,000 in March 2017.
Evidently, a client of SunTrust Investment Services expressed concern over Sandra McKoy’s sale of a variable annuity. Supposedly, McKoy had the client invest in a poorly performing variable annuity. In addition, the client expressed unhappiness with the fees on the annuity. However, SunTrust Investment Services denied this dispute.
Did you suffer losses because of securities broker Sandra McKoy? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled 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 United States investors who have incurred losses from their financial advisors and securities brokers. Please note that McKoy denies all allegations of her sales practice violations.
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