- November 16, 2023
- Vanderbilt Securities LLC
Ian A Geeves (CRD#: 5328479) is a registered broker and investment advisor at Vanderbilt Securities, LLC in Carlsbad, CA.
He entered the securities industry in 2009 and previously worked for LPL Financial LLC; U.S. Bancorp Investments, Inc.; Chase Investment Services Corp.; and Bancwest Investment Services, Inc.
Current Allegations of Conduct Leading to Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in September 2023, Ian Geeves became the subject of a customer dispute where allegations include, “From 2013 to 2023, prospective customer alleges that advisor stole and misappropriated her funds, and represented that she had an LPL account when she did not.” The customer dispute is still pending and the damage amount requested is $400,000.
For a copy of Ian Geeves’ FINRA BrokerCheck, click here.
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FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.
In addition, to the extent a Financial Advisor converts client assets during the course and scope of his employment and/or registration with the brokerage firm, that brokerage firm may be held liable for any attendant losses.
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