Brad William McDowell of Niles Illinois a stockbroker formerly registered with J.P. Morgan Securities LLC is referenced in a customer initiated investment related written complaint which was resolved for $44,098.67 on July 17, 2017 founded on accusations that the customer was placed into an annuity that failed to be suitable for the customer during the time that McDowell was employed by J.P. Morgan Securities LLC.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McDowell is referenced in three additional customer initiated investment related disputes containing allegations of McDowell’s violative conduct while employed with J.P. Morgan Securities LLC and National Securities Corp. In particular, a customer filed an investment related complaint concerning McDowell’s activities where the customer sought damages estimated to exceed $5,000.00 based upon accusations that while McDowell was associated with National Securities Corp., the customer was provided bad investment recommendations in regards to stock, over-the-counter equities and corporate debt products; placed into speculative investments that failed to be suitable for the customer given the customer’s financial profile; and sustained unwarranted poor performance on those equities investments.
Thereafter, a customer initiated investment related complaint regarding McDowell’s activities was settled to resolve allegations that false or misleading statements were made to the customer concerning the terms, conditions or risks which pertained to the mutual fund products sold to the customer during the time that McDowell was associated with J.P. Morgan Securities LLC.
Also, a customer initiated investment related arbitration claim concerning McDowell’s conduct was resolved for $14,999.00 in damages on January 28, 2015 supported by accusations that while McDowell was employed by National Securities Corp, fiduciary obligations to the customer were breached, and common or preferred stock transactions had been executed in the customer’s account which failed to be suitable for the customer.
McDowell was discharged by J.P. Morgan Securities LLC on September 17, 2016 founded on allegations that McDowell failed to comply with the procedures or policies of the firm in regard to the security of customers’ private and confidential information.
