- June 13, 2019
- Oppenheimer & Co.
Demos Argyros is a Financial Advisor at Oppenheimer & Co. in St. Louis. Demos Argyros entered the securities industry in 1986 and previously worked at CIBC World Markets.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Demos Argyros has five (5) customer complaint disclosures reflected on his permanent record maintained by Central Registration Depository (CRD). These complaints allege sales practice vilations. Among the complaints include the following:
- February 2019—”CLAIMANT ALLEGES NEGLIGENCE, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT RELATING TO UNSUITABLE EQUITIES AND WARRANTS. FROM 5/1/2008 TO 11/30/2016.” Alleged damages are $100,000 and the matter remains pending.
- April 2017—”BREACH OF FIDUCIARY DUTY, CHURNING, SUITABILITY CONVERSION BY CHARGING EXCESSIVE FEES AND MISSING FUNDS. FROM 1/2008 THROUGH 12/2016.” The matter was settled for $275,000.
- July 1999—”CLAIMANT ALLEGES THAT MR. ARGYROS FAILED TO FOLLOW HIS TRANSACTIONS INSTRUCTION WITH RESPECT TO HIS ALLEGED REQUEST TO SHORT AGOURON PHARMACEUTICALS AND TO PURCHASE AMAZON.COM. CLAIMANT FURTH ALLEGES THAT MR. AGYROS EXECUTED THE PURCHASE OF MONSANTO WITHOUT HIS AUTHORIZATION.” An arbitration panel awarded $56,500.
For a copy of Demos Argylos’ CRD, click https://brokercheck.finra.org/individual/summary/1325219
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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