Gary Kenneth Rasmussen, of Laguna Niguel, California, a stockbroker formerly registered with J.W. Cole Financial, Inc., is the subject of a customer initiated investment related arbitration claim, which settled on July 11, 2017, for $30,000.00 in damages founded on allegations of suitability pertaining to the customer’s equity portfolio.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Rasmussen has been identified in three customer initiated investment related disputes pertaining to allegations of his misconduct while registered with Spelman & Co., Inc. and Girard Securities.
Specifically, a customer initiated investment related arbitration claim regarding Rasmussen’s conduct was settled on July 3, 2003, for $7,500.00 in damages based on allegations that Rasmussen negligently handled the customer’s investment account and effected variable annuity and equity transactions that were not suitable given the customer’s financial status and age.
Moreover, a customer initiated investment related arbitration claim concerning Rasmussen’s conduct was filed on September 25, 2012, wherein the customer sought $475,000.00 in damages supported by allegations of suitability, financial abuse, violations of federal and state securities laws, failure to conduct due diligence, breach of contractual and fiduciary duties concerning the customer’s purchase of non-traded real estate investment trusts. Subsequently, a customer initiated investment related complaint involving Rasmussen’s activities was filed on September 25, 2013, for $100,000.00 in damages founded upon accusations of unsuitable over-the-counter equities recommendations having been made to the customer by Rasmussen.
Rasmussen was terminated by J.W. Cole Financial, Inc. on October 10, 2016.
Guiliano Law Group
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