Russell Al Stone (also known as Russell Alan Stone) of East Windsor Connecticut a stockbroker formerly registered with Broker Dealer Financial Services Corp. has been named a State of Connecticut Department of Banking investigation on April 25, 2017 in regard to Stone’s activities affecting the account of a customer who lodged a complaint with the regulator.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Stone is referenced in two customer initiated investment related disputes pertaining to allegations of Stone’s improper conduct while employed with Broker Dealer Financial Services Corp. Specifically, on February 10, 2015, a customer initiated investment related complaint regarding Stone’s activities was resolved for $10,000.00 in damages founded on accusations that Stone placed the customer in an exchange traded fund that was not suitable for the customer and caused the customer to maintain the exchange traded fund in the customer’s account for an unreasonable period of time.
Thereafter, on April 25, 2017, a customer filed an investment related complaint involving Stone’s conduct (which prompted the Connecticut investigation into Stone’s activities) where the customer sought $9,425.00 in damages based upon allegations that Stone sold the customer exchange traded funds that were inappropriate for the customer.
Stone’s registration with Broker Dealer Financial Services Corp. has been terminated as of November 17, 2016.
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