Robert MacDonald Abee of Raleigh North Carolina is a stockbroker formerly registered with Transamerica Financial Advisors Inc. who is the subject of a customer initiated investment related arbitration claim, which settled for $250,000.00 in damages supported by allegations that Abee (1) made misrepresentations to the customer concerning the terms and fees relating to the customer’s mutual fund and variable annuity transactions and (2) effected transactions that were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-03045 (Aug. 16, 2017).
FINRA Public Disclosure reveals that on January 18, 2008, a customer filed an investment related written complaint that concerned Abee’s conduct, in which the customer requested $10,000.00 in damages founded on accusations that while Abee was associated with Intersecurities, Inc., he made misrepresentations to the customer concerning the features and costs of a variable universal life insurance contract. The customer claimed to have been issued a policy containing a rider that the customer never consented to and contended that the insurance policy was not appropriate for the customer.
Abee’s registration with Transamerica Financial Advisors was terminated on April 22, 2016, and his employment with Cambridge Investment Research, Inc. commenced on April 19, 2016.
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