Mark Emerson Despelder, of Grosse Pointe, Michigan, a stockbroker formerly registered with Citizens Securities, Inc., has been named in a customer initiated investment related arbitration claim on January 6, 2017, in which the customer requested $19,052.90 in damages based upon allegations that Despelder misinformed customers regarding the terms and conditions of variable annuity products, and effected transactions that were not suitable for the customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on September 17, 1999, during which point Despelder was associated with prior employers, First of America Brokerage Services, Inc. and NatCity Investments, Inc., a customer filed an investment related written complaint involving his conduct, where the customer requested $16,550.67 in damages based upon allegations that Despelder misrepresented mutual funds products that were effected in the customer’s investment account.
Despelder’s registration with Citizens Securities, Inc. was terminated on April 17, 2017. Since April 19, 2017, he has been associated with Infinex Investments, Inc.
Guiliano Law Group
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