AFinancial Industry Regulatory Authority (FINRA) panel of arbitrators has ordered
Trustmont Financial Group Inc.
to pay one of their clients more than $1 million in damages.
The client had accused Trustmont of breach of fiduciary duty, fraud and negligence relating to two 1035 annuity exchanges and a private real estate investment trusts (REITs).
The client had asked for damages of approximately $500,000. Trustmont Financial Group was ordered to pay the client $848,002.31 in compensatory damages and $100,000 in punitive damages. Trustmont is also liable for costs and attorney fees of $15,596 and $82,500. The total of the award is $1,046,098.31.
Trustmont denied all the allegations.
In 2016, Trustmont Financial Group was fined $100,000 for alleged supervisory failures due to inspection of branch offices and the supervision of Unit Investment Trusts (UITs) sales.
TRUSTMONT FINANCIAL GROUP, INC. as also listed on FINRA’s website as:
(THE CODRICK FINANCIAL GROUP, INC., TRUSTMONT FINANCIAL GROUP, INC. DBA TFG)
CRD#: 18312
SEC#: 36439
Based at:
SCENIC DRIVE PROFESSIONAL CENTER
200 BRUSH RUN ROAD, SUITE A
GREENSBURG, PA 15601 UNITED STATES
If you’ve experienced financial losses due to the actions or recommendations of the broker/dealer Trustmont Financial Group, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency fee basis—no fee to you if no recovery.
Investors might have sustained financial harm through WestPark Capital Inc. [CRD: 39914, Los Angeles, California], according to publicly available information found on Financial Industry Regulatory Authority BrokerCheck. WestPark Capital has been registered with FINRA since 1996 and maintains its headquarters in Los Angeles, California. Keep reading to discover more about the regulatory action involving the […]
Investors might have sustained losses due to securities broker James Fredrick Tighe [CRD: 3129233, Phoenix, Arizona], and Financial Industry Regulatory Authority barred him, based on public information on BrokerCheck. Tighe was associated with Morgan Stanley from June 1, 2009, through January 14, 2025. Continue reading to find out more about Tighe’s regulatory and client dispute […]
Investors potentially experienced sales practice violations by securities broker Sung Moo Cho (also known as Sam Cho) [CRD: 5015906, New York, New York], and FINRA barred him, given the public information found on FINRA BrokerCheck. Cho was associated with Ameriprise Financial Services from January 22, 2021, to October 21, 2025, and Citigroup Global Markets from […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com