The Wolper Law Firm is currently investigating claims against John Raleigh, a Financial Advisor at Summit Brokerage Services in Sarasota, FL. John Raleigh has been in the securities industry since 1993 and previously worked at American Express Investment Services.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on November 7, 2017, a customer filed a complaint against John Raleigh, alleging unsuitable investment recommendations in connection with the sale of a life insurance annuity investment. The alleged damages are $600,000 and the matter remains pending. In November 2016, a second customer filed a customer complaint, alleging impropriety regarding an annuity distribution.
To review a full copy of John Raleigh’s FINRA disclosure report, click https://brokercheck.finra.org/individual/summary/2061366#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Trading long-term investment vehicles in short duration is per se improper as it presents very little benefit to the customer and only benefits the Financial Advisor, who earns commissions. 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 of John Raleigh and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org 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.