Financial Advisor, Donald Woods, Has Had Five Customer Complaints Filed Against Him Since 2016
The Wolper Law Firm is currently investigating claims against Donald Woods, a former Financial Advisor at LPL Financial in Louisville, KY. Donald Woods has been in the securities industry since the 1980s and previously worked at Wells Fargo and Money Concepts.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), since 2016, Donald Woods has been the subject of five customer complaints, alleging sales practice violations, including two pending complaints:
• August 2018—”CUSTOMER ALLEGES EXCESSIVE SELLING OF VARIABLE ANNUITIES, MISREPRESENTING OR FAILING TO DISCLOSE MATERIAL FACTS, UNSUITABILITY OF PRODUCTS AND ALTERATION OF ACCOUNT PROFILES.” Alleged damages are $153,000 and the matter remains pending.
• May 2018—”Loss of opportunity due to uninvested funds. Market losses. Undisclosed fees. Misrepresentation of fees. Altered documents. Unsuitable investments.” Alleged damages are $105,000 and the matter remains pending.
• May 2018—”Unsuitable investments, unwarranted fees, failure to invest funds.” Alleged damages are $25,000 and the matter remains pending.
A For a full copy of Donald Woods’ FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/727894#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.
If you or someone you know was a customer Donald Woods and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.