Robert Charles Wynn of Glendale California a stockbroker formerly employed by Park Avenue Securities LLC is referenced in a customer initiated investment related complaint where the customer requested unspecified damages founded on accusations that (1) the customer was placed into an unsuitable fixed indexed annuity during the time that he was associated with Park Avenue Securities and (2) the annuity was sold outside the auspices of his securities broker dealer employer.
FINRA Public Disclosure reveals that Wynn is identified in five additional customer initiated investment related disputes containing allegations of his misconduct while employed with Park Avenue Securities. In particular, Wynn is the subject of a customer initiated investment related complaint in which the customer sought more than $5,000.00 in damages based on accusations of false or misleading statements being made by the stockbroker in regard to a life insurance policy he sold to the customer.
Another customer filed an investment related complaint concerning Wynn’s conduct where the customer requested $140,000.00 in damages supported by allegations that Wynn placed the customer in a variable annuity, variable universal life insurance policy, and mutual fund products that were in no way suitable for the customer given the customer’s goals, risk tolerance, or overall circumstances; a fiduciary duty Wynn owed was breached; and false or misleading statements induced the customer’s investment and insurance transactions. Wynn is also the subject of a customer initiated investment related arbitration claim which was resolved for $32,000.00 in damages based upon accusations that mutual funds, variable annuities and variable life policies were all inappropriate; false statements were made in reference to these products; and Wynn breached a fiduciary obligation to the customer.
Also, a customer filed an investment related complaint involving Wynn’s activities in which the customer requested $520,816.00 in damages founded on allegations that the customer, who had insufficient financial resources and memory problems, had been steered by Wynn towards investing in an annuity without the stockbroker explaining that the product was not revocable. In addition, Wynn is referenced in a customer initiated investment related arbitration claim which was settled for $75,000.00 in damages supported by accusations that trades Wynn placed in the customer’s brokerage account lacked the customer’s consent; and stock trades were wholly unsuitable. FINRA Arbitration No. 17-01457 (July 17, 2017).
Wynn’s registration with Park Avenue Securities has been terminated as of November 9, 2017.
