RedFlags, Allegations and Complaints against Lynda Louise Parker
Disclosure #1 for Lynda Parker
- Event Date: 7/6/2021
- Disclosure Type: Customer Dispute
- Resolution: Denied
- Allegations: On July 6, 2021, the firm received a written complaint, dated June, 25, 2021, addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm. The complaint, written by a financial representative at an outside institution and signed by the client, contained an allegation that a Guaranteed Lifetime Income Annuity (GLIA) recommended by a financial representative of the firm and purchased from BLC in March of 2021 was unsuitable due to liquidity concerns. The complaint also alleged the client did not understand the features, benefits or the expenses of the annuity and requested that the annuity be cancelled, without surrender charges. BLC denied the complaint and determined that the GLIA was suitable for the client at the time it was recommended and further determined that the terms of the annuity were explained to the client. While the annuity sold to client was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the BLC annuity came from the sale of securities recommended by a financial representative of this Firm.
- Damage Amount Requested: $10,943.00
- Arbitration Docket Number:
Should I file a FINRA complaint against brokers like Lynda Louise Parker?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
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