Ausdal Financial Partners Financial Advisor, Christopher Neston, Has One Pending and One Settled Customer Complaint Disclosed On His CRD Alleging Sales Practice Violations
Christopher Neston (CRD # 2741497) is a Financial Advisor at Ausdal Financial Partners, Inc. in North Oaks, MN. Christopher Neston has been in the securities industry since 1996 and previously worked at Next Financial Group, Inc., American General Securities Incorporated, and Franklin Financial Services Corporation.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Christopher Neston has two customer complaints disclosed on his CRD, alleging the following sales practice violations:
- May 2019 – “Customer alleges Representative made unsuitable recommendations resulting in concentrated illiquid, alternative investments because they paid high commissions. The customer also alleges receipt of inaccurate information about the performance of the investments.” Alleged damages are $466,800 and the matter is currently pending.
- September 2017 – “Client alleges recommendation to move money from defined benefit plan to Jackson annuity, in 2009 and prior to joining AFT, was unsuitable. Also, that a subsequent purchase of UDF in December 2015 was unsuitable and speculative. Client also alleges that investments for his wife’s retirement funds were unsuitable and speculative.” The matter settled for $75,000.
For a copy of Christopher Neston’s CRD, click https://brokercheck.finra.org/individual/summary/2741497#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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