Can I recover losses due to investment recommendations by Northern Trust Securities, Inc. broker Russell Andersen (CRD# 2288717)? He has been registered with Northern Trust Securities, Inc. in Bonita Springs, Florida, since 1999.
Russell Andersen Customer Complaints
He has been the subject of two customer complaints between 2011 and 2024, one of which was denied, according to his CRD report:
April 2024. “Claimant alleges his request to liquidate his portfolio and lock in profits when it had reached approximately $5 million was declined and instead he was advised to hold the portfolio until it reached $7 million and borrow $1 million to boost the value of relationship. The Financial Advisor denies the allegations and states that at all times he followed the instructions of Claimant, who made his own investment decisions and had been a licensed professional in the securities industry for 20+ years.” The customer is seeking $5,000,000 in damages, and the case is currently pending. The complaint was regarding equity OTC, equity listed, penny stocks, and banking products other than CDs.
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, Northern Trust Securities, Inc. may be liable for investment or other losses suffered by Russell Andersen’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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