Terance Treadwell Power of Beverly Hills California a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint which settled for $65,413.00 on April 26, 2018 supported by accusations that in September 2017, misrepresentations had been made to the customer concerning investments and mutual fund transactions were effected in the customer’s account that were not suitable for the customer.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Power has been identified in four additional customer initiated investment related disputes containing allegations of his misconduct while employed with UBS Financial Services Inc. Specifically, on October 6, 2003, a customer filed an investment related complaint involving Power’s conduct where the customer requested damages estimated to exceed $5,000.00 founded on accusations that the customer was placed in over-the-counter equities which failed to conform to the customer’s risk tolerance.
On October 22, 2009, another customer filed an investment related complaint involving Power’s activities in which the customer requested damages estimated to exceed $5,000.00 supported by accusations that the customer was not provided information concerning the risks of structured products investments at the time that the transactions had been executed in the customers’ investment account. Thereafter, a customer initiated investment related arbitration claim involving Power’s conduct was resolved for $82,500.00 in damages founded on allegations including breach of contract, breach of fiduciary duty, negligence, omissions and misrepresentations relating to Lehman Brothers Principal Protected Notes. FINRA Arbitration No. 09-04076 (Sept. 13, 2010).
Further, a customer initiated investment related arbitration claim concerning Power’s activities was settled for $19,200.00 in damages supported by allegations that misleading and unsuitable recommendations had been made to the customer regarding mutual fund and covered call option products. FINRA Arbitration No. 11-00734 (Nov. 7, 2011).
Power has been registered with Merrill Lynch since November 14, 2008.
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