Investors have brought lawsuits regarding barred financial advisor Taek Chong [CRD#: 1551473, Mercer Island, Washington]. Supposedly, the financial advisor, who worked for Raymond James Financial Services from 2000 to 2018, discloses four investor disputes on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Significantly, Raymond James clients suggest that they paid improper or excessive commissions because of Chong. Here’s more:
Raymond James Settles Client Dispute About Taek Chong’s Commissions
Supposedly, on June 28, 2019, a Raymond James client brought a dispute in reference to Taek Chong. Supposedly, Chong admitted to the client that he overcharged him. Allegedly, Chong sent the client a letter in which he offered to provide the client a cashier’s check for the excessive amount. It is possible that Chong failed to follow through. Consequently, on February 19, 2020, Raymond James Financial Services paid the client $100,000 to settle the matter.
Chong Allegedly Overcharges Raymond James Client
On November 19, 2019, a client of Raymond James Financial Services brought a complaint about Chong. Allegedly, Chong overcharged his client on a stock trade. It appears that the financial advisor promised the client that the rate would be less than it was. For this reason, the client seeks $78,000 in damages from Raymond James or Chong in this ongoing matter.
Taek Chong Allegedly Causes Raymond James Client To Pay Excessive Commissions
Moreover, a Raymond James client filed a formal dispute in 2018 in reference to Taek Chong. Notably, similar to Chong’s other clients, this client alleged to have made an overpayment of commissions because of Chong. Because of this, on October 30, 2018, Raymond James settled this client’s dispute by paying $927,628.91 to the client.
FINRA Bars Chong For His Refusal To Comply With Investigation
Notably, on June 28, 2018, FINRA barred Taek Chong for violating Rules 8210 and 2010. Specifically, Chong failed to provide information to FINRA regarding his voluntary resignation from Raymond James. In fact, Chong agreed to be barred by FINRA rather than comply.
Losses From Raymond James Financial Services Broker Taek Chong?
Have you experienced losses by investing with Taek Chong? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of financial advisors like Chong and his employers.