- July 19, 2019
- Park Avenue Securities
John T. Alexander, III (CRD # 46173) was a Financial Advisor at Park Avenue Securities LLC. in Scharlotte, NC. John Alexander was in the securities industry since 1999 and previously worked at NYLife Securities.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), since 2014, John Alexander has been the subject of two customer complaints alleging the following:
- October 2017 – “THE CUSTOMERS VOICED CONCERNS THAT RECOMMENDATIONS REGARDING BOTH REGISTRED PREODUCTS AND FIXED INSURANCE POLICIES THAT WERE ESTABLISHED IN OR AROUND APRIL 1998 THROUGH MARCH 2017 DID NOT TAKE INTO CONSIDERATION THEIR BEST INTERESTS. THE CUSTOMERS QUESTIONED THE FUNDING, OPTIONS AND BENEFITS ASSOCIATED WITH SEVERAL INVESTMENTS AND REQUESTED A REVIEW OF THEIR ACCOUNTS.” The matter settled for $93,052.21.
- January 2016 – “THE CUSTOMERS ALLEGE THAT FUNDS WITHDRAWN FROM A BANK ACCOUNT, WHICH WAS ESTABLISHED WITHOUT THEIR AUTHORIZATION WITH PROCEEDS FROM EXISTING ACCOUNTS, ARE UNACCOUNTED FOR.” The matter settled for $243,147.27.
For a copy of John Alexander’s CRD, click https://brokercheck.finra.org/individual/summary/3124742.
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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