- December 8, 2019
- Western International Securities
Stuart Myles Godin (CRD # 223476) is a Financial Advisor at Western International Securities, Inc. in Los Angles, CA. Stuart Godin has been in the securities industry since 1961 and previously worked at Financial West Group, RBC Capital Markets, LLC, Citigroup Global Markets Inc., Morgan Stanley, Prudential Securities, Bear, Stearns, Oppenheimer and Merrill Lynch.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Stuart Godin has been the subject of eight customer complaint disclosures, including the following:
• May 2019 – “Misrepresentation and incompetence on stock selections from 2018 to 2019.”
• November 2017 – “Claimant alleges losses due to the financial advisor’s unsuitable recommendation to invest in a managed futures fund.” The matter settled for $20,000.
• September 2016 – “Client alleges he lost nearly all of his investment in a Managed Futures program from 10/2014 to 06/2016, after he was told that he could not lose more than 20% of his investment.” The matter settled for $15,000.
• January 1989 – “THE COMPLAINT ALLEGES THAT THE CUSTOMER LOST $12,768.97 IN ACTUAL DAMAGES WHILE THE ACCOUNT WAS AT BEAR STEARNS. THE COMPLAINT ALLEGED VIOLATIONS OF FEDERAL SECURITIES LAWS, SUITABILITY RULES AND NEGLIGENT HIRING AS THE BASIS FOR ITS CLAIMS. IN ADDITION TO ACTUAL DAMAGES, THE COMPLAINT SEEKS PUNITIVE DAMAGES OF NO LESS THAN 2MM AGAINST BEAR STEARNS AND OPPENHEIMER & CO.” An arbitration panel awarded the claimant $126,000 in damages.
For a copy of Stuart Godin’s CRD, click https://brokercheck.finra.org/individual/summary/223476#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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