Articles Tagged with RBC Dain Rauscher

Stoltmann Law Offices, P.C. is a Chicago-based securities and consumer protection law firm offering nationwide representation to investors and victims of fraud nationwide on a contingency fee basis.  Recently, we were contacted by an investor/client who was sold a basket of structured notes offered by RBC Capital. He’s a retired investor and believed what he was sold was suitable, offered a stable and fairly high interest rate, which was important because he is on a fixed income, and that the note had down-side protection.  He was made to believe these important facts because his trusted financial advisor pitched these products to him this way. In reality, the structured notes he was sold were speculative, extremely complicated, conflicted proprietary products.

The investment at issue is called the:

Auto-Callable Contingent Coupon Barrier Notes Linked to the Common Stock of Teladoc Health, Inc., Due July 3, 2024

AdobeStock_78306447-1-300x199Troy Baldridge, a former financial adviser with Capitol Securities Management in Glen Allen, Virginia, has been sentenced to 41 months in prison. Baldridge pleaded guilty to mail fraud in December 2016, after being accused of transferring funds from client accounts into his own personal one. He also allegedly forged client signatures on documents from September 2011 until July 2016. Baldridge admitted to embezzling more than $500,000 from his clients, most of which were elderly and retired. He was permanently barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) in 2016 and will pay more than $500,000 in restitution to his clients.
According to public documents with FINRA, Mr. Baldridge was previously registered with IDS Life Insurance Company, American Express Financial Advisors, Branch, Cabell & Co., Tucker Anthony Inc., RBC Dain Rauscher, Anderson & Strudwick Inc., Capitol Securities & Associates in Glen Allen, Virginia from May 2011 until December 2012 and Capitol Securities in Glen Allen from August 2007 until August 2016. He has one customer dispute against him, claiming miscommunication in regard to variable life insurance coverage to fund an irrevocable trust, and has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.
If you suffered losses with Troy Christopher Baldridge, please call our Chicago-based law offices today for a no-cost, no-obligation consultation with one of our attorneys. We may be able to help you sue Capitol Securities in order to recover your money on a contingency fee basis. There is a statute of limitations on most cases, so time is of the essence.

Stoltmann Law Offices is investigating Jeffrey Grayson, a registered broker with Wells Fargo Advisors in Florham Park, New Jersey. Allegedly, Grayson misrepresented and recommended an unsuitable unit investment trust (UIT), recommended an unsuitable limited partnership investment, breached fiduciary duty, acted negligently, breached contract and made unsuitable recommendations. These securities are not suitable for all investors, and a broker must take into account a customer’s net worth, age, investment objectives and investment sophistication before recommending or selling a security. If he does not, his brokerage firm, Wells Fargo, may be responsible for money losses. Please call us today for your free consultation with one of our attorneys to discuss how we might be able to help you bring a claim against Wells Fargo for Grayson’s transgressions. The call is free, so please call today. There is no obligation.

Grayson was registered with Gibraltar Securities in Florham Park, New Jersey from April 1981 until September 1999, Tucker Anthony Inc. in Boston, Massachusetts from September 1999 until March 2002, RBC Dain Rauscher in New York, New York from March 2002 until October 2002, JB Hannauer in Parsippany, New Jersey from September 2002 until October 2009 and RBC Capital Markets in Parsippany, New Jersey from October 2009 until April 2011. He is currently registered with Wells Fargo in Florham Park and has been since April 2011. He has five customer disputes against him, one of which is currently pending.

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