Fred Shlesinger of Addison Texas a stockbroker formerly employed by Principal Securities Inc. is the subject of a customer initiated investment related complaint on October 14, 2018 regarding Shlesinger’s conduct where the customer sought damages estimated to exceed $5,000.00 based upon accusations that misrepresentations were made to the customer concerning the funding of a variable universal life insurance policy sold to the customer while Shlesinger was employed by Principal Securities Inc.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Shlesinger is referenced in eight additional customer initiated investment related disputes containing allegations of his violative conduct while employed with Princor Financial Services Corporation (Principal Securities Inc.). Particularly, on January 1, 2016, a customer filed an investment related complaint involving Shlesinger’s activities in which the customer requested unspecified damages supported by accusations of the customer being placed into a variable annuity that was not appropriate resulting in the customer experiencing unwarranted losses.
Subsequently, on January 22, 2016, a customer filed an investment related complaint concerning Shlesinger’s conduct where the customer sought unspecified damages founded on allegations that omissions had been made to the customer concerning the fees and other details on mutual fund and variable annuity products sold to the customer. On July 23, 2018, another customer initiated investment related complaint in regard to Shlesinger’s conduct settled for $18,945.92 in damages based upon accusations that it was unsuitable for the customer’s assets to be moved from the customer’s 401(k) into an individual retirement account annuity and placed into speculative investments.
Additionally, a customer initiated investment related arbitration claim concerning Shlesinger’s activities was resolved for $14,999.00 in damages supported by allegations that mutual fund and insurance transactions effected in the customer’s account failed to be suitable for the customer. FINRA Arbitration No. 17-02558 (Oct. 11, 2018).
Shlesinger has been registered with Principal Securities Inc. since August 12, 2005.
