Erez Law is currently investigating former SagePoint Financial, Inc. broker Delio Londono (CRD# 2695744), who faces multiple customer complaints for investment losses. He was registered with SagePoint Financial, Inc. in La Crescenta, California, from 2010 to 2020. He was previously terminated from Advisor Group in 2020 regarding, “Client contends that representative return certain funds to client after investment without knowledge of the firm.”
Delio Londono Customer Complaints
He has been the subject of eight customer complaints between 2005 and 2022, three of which were denied, according to his CRD report:
April 2022. “Claimant alleges that certain unnamed REITS and “direct participation programs were recommended to the client that were not in keeping with her investment objectives and needs, and that the risks and other characteristics of the investments were not fully explained.” The customer is seeking $250,000 in damages and the case is currently pending.
December 2020. “The clients allege certain investment recommendations were not in keeping with the client’s needs and were either misrepresented or not fully disclosed to the clients.” The customer sought $250,000 in damages, and the case was settled for $125,000. The complaint took place while he was registered with SagePoint Financial, Inc., and the complaint was regarding direct investments and real estate securities losses.
December 2020. “The client alleges certain unspecified investment recommendations were not in keeping with the client’s needs and were either misrepresented or not fully disclosed.” The customer sought $800,000 in damages, and the case was settled for $395,000. The complaint took place while he was registered with SagePoint Financial, Inc., and the complaint was regarding direct investments and real estate securities losses.
October 2020. “The client alleged mispresentations concerning certain investments and alleges the representative shared certain commissions with the client.” The customer sought $100,000 in damages, and the case was settled for $20,000. The complaint took place while he was registered with SagePoint Financial, Inc., and the complaint was regarding fixed annuities and real estate securities losses.
April 2018. “Client alleges investments in mutal funds, REITs and direct placement were not suitable.” The case was settled for $20,000. The complaint took place while he was registered with SagePoint Financial, Inc., and the complaint was regarding direct investments, mutual funds, and real estate securities losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, SagePoint Financial, Inc. may be liable for investment or other losses suffered by Delio Londono’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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