Douglas Harry Chapman, of Clark, New Jersey, a stockbroker registered with Securian Financial Services Inc., was the subject of a customer initiated investment related complaint filed on November 15, 2021, in which the customer requested compensatory damages based upon allegations that Chapman made misrepresentations of material fact about a living benefit rider on a variable annuity when Chapman was associated with Securian Financial Services Inc. The complaint was denied.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Chapman is referenced in five other customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. On June 20, 2001, a customer initiated investment related complaint involving Chapman’s conduct was settled for $9,800.00 in compensatory damages based upon allegations that Chapman failed to execute a bond purchase according to the customer’s instructions when Chapman was associated with WS Griffith Co. Inc.
On April 8, 2015, another customer filed an investment related complaint involving Chapman’s conduct in which the customer requested $5,000.00 in damages based upon allegations that Chapman misrepresented a variable annuity contract when Chapman was associated with Securian Financial Services.
On October 3, 2016, a different customer filed an investment related complaint involving Chapman’s conduct in which the customer requested compensatory damages based upon alleged misrepresentations concerning a death benefit guarantee on an insurance product. The complaint also alleged that the guarantee was neither understood nor requested by the customer.
Chapman was also referenced in a customer initiated investment related complaint that was settled on January 13, 2017, for $90,000.00 in damages based upon allegations that Chapman made unsuitable recommendations in index life insurance products during the time that Chapman was associated with Securian Financial Services. The complaint alleged that the indexed life policy was unsuitable given the customer’s needs and that fees charged in her investment advisory accounts were unjustified.
Chapman was also referenced in a customer initiated investment related complaint that was settled on April 15, 2019, for $8,835.02 in damages based upon allegations that Chapman failed to follow the customer’s instructions in November of 2018 in connection with the sale of mutual funds when Chapman was associated with Securian Financial Services.
Chapman was associated with Securian Financial Services Inc. in Clark, New Jersey from June 10, 2004, to August 10, 2023. He has been associated with Cetera Advisor Networks LLC in Clark, New Jersey, and Toms River, New Jersey since August 10, 2023. He is also associated with Cetera Investment Advisers LLC in the same locations since August 10, 2023.
