Former PFS Investments Financial Advisor, Derrick Trussell, Barred From The Industry By FINRA
Derrick Trussell is a former Financial Advisor at PFS Investments Inc. in San Antonio, TX. Derrick Trussel was in the securities industry from 2006 to 2017.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in August 2018, Derrick Trussell was barred by FINRA from associating with any FINRA member firm in any capacity for failing to respond to FINRA’s request for information during its investigation that he “engaged in an unapproved outside business activity and/or an undisclosed private securities transaction in which a client’s funds were used to purchase securities not offered by PFSI without the client’s knoedge or consent.” Derrik Trussell was dischareged by PFS in connection with these allegations.
In addition, Derrick Trussel has four pending customer complaints disclosed on his CRD. The allegations include:
- March 2019 – “CUSTOMER ALLEGES THAT TRUSSELL MISREPRESENTED INVESTMETNS NOT SOLD BY PRIMERICA.”
- March 2019 – “CUSTOMER ALLEGES THAT TRUSSELL MADE AN UNAUTHORIZED TRADE.”
- March 2019 – “CUSTOMER ALLEGES THAT TRUSSELL MISREPRESENTED THAT SHE WAS INVESTING HER MONEY WITH PRIMERICA.”
- March 2019 – “CUSTOMER ALLEGES THAT TRUSSEL MISREPRESENTED INVESTMENTS NOT SOLD BY PRIMERICA.”
For a copy of Derrick Trussell’s CRD, click https://brokercheck.finra.org/individual/summary/5197550#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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