Robert Charles Mulcahy of Invest Financial Corporation a customer initiated investment related complaint involving Mulcahy’s conduct was settled on July 27, 2015 for $15,681.33 in damages supported by accusations that Mulcahy failed to deliver the annuity contract to the customer or discuss the fees that the customer would be charged at the time that the annuity was purchased.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Mulcahy has been identified in three more customer initiated investment related disputes pertaining to allegations of his violative conduct while employed with INVEST Financial Corporation and Vestax Securities Corporation. Particularly, a customer initiated investment related arbitration claim involving Mulcahy’s activities was resolved for $23,000.00 in damages based upon accusations that Mulcahy made unsuitable purchases and sales of investments for the customers’ accounts, and made misrepresentations to the customers concerning the risks and surrender charges pertaining to a variable annuity. National Association of Securities Dealers (NASD) Arbitration No. 02-05759-5-CH (Mar. 11, 2004).
Subsequently, a customer initiated investment related arbitration claim was settled for $46,000.00 in damages founded on allegations that the customer was placed in a variable annuity that had been misrepresented, and unsuitable investment transactions were placed in the customer’s accounts. National Association of Securities Dealers (NASD) Arbitration No. 03-01266 (May 14, 2004).
On June 29, 2015, another customer filed an investment related complaint concerning Mulcahy’s activities in which the customer requested unspecified damages supported by accusations that Mulcahy failed to inform the customer about the costs pertaining to an annuity purchased by the customer, and failed to provide the customer with a variable annuity contract.
On July 2, 2015, Mulcahy’s registration was terminated by Invest Financial Corporation. He became employed by WFG Investments, Inc. from June 30, 2015 and September 21, 2017. As of November 13, 2017, he has been employed with Regulus Advisors, LLC.
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