Robert Charles Wynn of Glendale California a stockbroker formerly registered with Park Avenue Securities LLC is referenced in a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages founded on allegations that common and preferred stock transactions conflicted with the customer’s objectives for investing and caused losses to be sustained in the customer’s Park Avenue Securities account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01351 (Sept. 8, 2020).
Wynn has been identified in six additional customer initiated investment related disputes concerning accusations of his sales practice violations while employed by Park Avenue Securities. FINRA Public Disclosure reveals that a customer filed an investment related complaint involving Wynn’s activities in which the customer sought $8,456.57 in damages based upon allegations that misrepresentations had been made to the Park Avenue Securities customer by Wynn concerning the customer’s purchase of a variable life insurance policy.
Another customer filed an investment related complaint regarding Wynn’s conduct where the customer requested $140,000.00 in damages supported by accusations of bad advice by Wynn concerning mutual funds, annuities and life insurance policies purchased by the Park Avenue Securities customer. According to the claim, misrepresentations had been made in regard to these investments. A fiduciary duty that was owed to the customer had allegedly been breached.
Wynn is the subject of another customer initiated investment related arbitration claim which was resolved for $32,000.00 in damages founded on allegations of bad mutual funds, variable life and variable annuity transactions. The claim alleges that the investments were not accurately represented and that the stockbroker violated his fiduciary duty to the customer.
Another customer filed an investment related complaint involving Wynn’s conduct in which the customer sought $520,816.00 in damages based upon accusations that the customer was not provided clear information in regard to the irrevocability of an annuity purchased through Wynn at Park Avenue Securities. According to the customer, the product was not appropriate and failed to allow the customer to maintain a diversified portfolio.
Wynn is also referenced in a customer initiated investment related arbitration claim which was settled for $75,000.00 in damages supported by allegations of unauthorized stock trades being executed in the customer’s account by Wynn. FINRA Arbitration No. 17-01457 (July 17, 2017). The claim also alleges that trades were not suitable for the customer and resulted in losses for the customer’s securities account.
On June 28, 2018, another customer filed an investment related complaint involving Wynn’s activities where the customer requested more than $5,000.00 in damages founded on accusations of unsuitability by Wynn. According to the claim, the customer was sold a product by Wynn outside the auspices of Park Avenue Securities.
Wynn’s registration with Park Avenue Securities has been terminated as of November 9, 2017.
