Forty year industry veteran Lawrence Brazie (CRD# 857097) of Westminster Financial Securities, Inc. receives customer complaint for unsuitable investment recommendations. Brazie has been registered with Westminster Financial Securities, Inc. in Dayton, Ohio since 1987.
Brazie has been the subject of two customer complaints between 2001 and 2019, according to his CRD report:
June 2019. “The client alleges unsuitable investments, negligent hiring, failure to supervise, misrepresentations and omissions, and breach of purported settlement agreement.” The customer is seeking $468,249.17 in damages and the case is currently pending.
September 2001. “Customer alleged activity in a managed investment account was unsuitable, negligent and represented a breach of fiduciary duty. Representative was broker of record though the customer had executed a discretionary managed account agreement with the related third party manager.” The customer sought $150,000 in damages and the case was settled for $23,000. This case was regarding stocks.
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, Westminster Financial Securities, Inc. may be liable for investment or other losses suffered by Brazie’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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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