Stoltmann Law Offices is investigating Timothy Sullivan, a former registered representative with SII Investments. Sullivan has been accused of not informing a customer of a tax consequence related to the liquidation of her variable annuity, which caused more than $46,000 in damages. A separate customer also accused Sullivan of failing to adjust his/her principal due to the decreasing value of his/her IRA account, and another customer alleged that Sullivan executed three unauthorized stock purchases. He was also accused of making unsuitable recommendations, acting negligently, executing unauthorized trades, breaching fiduciary duty and misrepresenting material facts.
Sullivan was registered with Alamo Capital in Walnut Creek, California from December 1997 until January 2000, FSC Securities in Danville, California from January 2000 until July 2006 and Securities Service Network in Danville from July 2006 until September 2008. He is currently registered with SII Investments in Appleton, Wisconsin and has been since September 2008. He has nine customer disputes against him, one of which is currently pending, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report. He also has two criminal dispositions against him. If you know anyone who invested and lost money with Timothy Sullivan, or if you did yourself, please call our Chicago-based securities law firm to find out how you can sue his brokerage firm in the arbitration forum. The call is free.