The Law Offices of Robert Wayne Pearce have assisted clients in recovering investment losses caused by Spartan Capital Securities, an institution which has been subject to customer complaints, regulatory actions, as well as allegations of fraud and negligence.
Investors have complained that brokers at this firm advised them to follow unsuitable trading plans that resulted in large financial losses. Furthermore, FINRA has opened multiple investigations into claims of illegal trading and churning by brokers from this firm.
Poor Customer Service
Spartan Capital Securities prides itself on being client-centric and providing top quality investment advice, but recent customer complaints and backlash against one of their representatives has damaged its image. For an accurate and informed evaluation, it’s vital that one conducts their own investigation using FINRA’s Broker Check.
Numerous complaints have been lodged against Spartan Capital Securities over communication failures, misrepresentation of investment products, and account management disputes. Although such issues are an inevitable part of today’s volatile financial markets, their severity should be taken into consideration when evaluating a brokerage firm like Spartan Capital Securities. Analyzing complaints against it can provide valuable insight into its strengths and weaknesses; areas in need of improvement; as well as help investors make more informed decisions when selecting stockbrokers or advisors as well as prevent costly errors that lead to investment losses.
Misrepresentation of Investment Products
Spartan Capital Securities Complaints of New York specializes in stock buying and selling. Registered with FINRA – an industry watchdog – it has come under scrutiny many times due to customers complaining of investment plans not suitable for them, excessive trading on their behalf, costing customers money as well as creating stress. FINRA has checked into Spartan Capital multiple times due to such misdeeds; over the years this led FINRA to investigate complaints that their advisors suggested plans which weren’t appropriate and made mistakes costing both time and money while costing customers money as well as stress. FINRA has investigated multiple times due to complaints that suggested suggestions were not suitable investment plans proposed or excessive trading activities on their customers behalf, costing both them money as well as creating stress.
People often voice complaints about churning, meaning that they were coaxed into making many trades to generate commissions but at their own peril lost money. Unsuitable advice by brokers also contributes to this dissatisfaction as these professionals fail to comply with rules designed to take account of an individual’s goals, risk tolerance and current financial position when providing advice.
If you believe you have lost money due to excessive trading or poor advice by a Spartan Capital broker, legal options may exist for recouping it. Speak with an investment lawyer immediately so they can assess your case and advise accordingly.
Account Management
Spartan Capital Securities experiences client grievances similar to any brokerage firm. Stories range from successful gains and accounts of lost investments. But common threads emerge; concerns over investments handling, trading executions and account management services tend to surface frequently in these tales of woe.
Spartan Capital Securities often receives complaints from investors about discrepancies in account statements and communication lapses, two key areas where Spartan should prioritize. They should work towards strengthening their internal protocols and client communication platforms in order to resolve them more quickly.
Spartan Capital Securities must ensure its fees and commissions are clear and transparent for its clients, or their charges could impede overall investment performance and customer satisfaction. A careful assessment of these claims, relative to industry norms and competitor practices, can help to discern whether they represent systemic issues or singular events.
Fees and Commissions
Spartan Capital Securities Complaints may stem from mismanaged accounts, disagreements over investment advice, issues with trading execution or fees and commissions as well as concerns regarding customer service. While such issues are fairly standard in the financial industry, how Spartan Capital Securities responds can play a crucial role in their client satisfaction levels.
Complaints against Spartan Capital Securities brokers allege they recommended unsuitable investments based on their clients’ financial situations, goals, risk tolerances and needs – in violation of FINRA’s “know your customer” and suitability rules.
Dean Kajouras was one former broker who received numerous complaints from customers alleging he invested their retirement funds in high-risk investments and churned their accounts. Both FINRA and Massachusetts Secretary of State William Galvin filed regulatory actions against Kajouras’ inappropriate and costly activities; since leaving Spartan Capital Securities he has been barred from the securities industry and some affected investors were compensated by them.