Timothy David Ballard (also known as Tim Ballard) of Danville California a stockbroker employed by National Planning Corporation is referenced in a customer initiated investment related arbitration claim where the customer sought more than $100,000.00 in damages supported by allegations that (1) the customer’s account was handled in a negligent manner (2) fiduciary obligations were breached (3) false or misleading statements had been made to the customer (4) due diligence was not conducted on stocks before recommendations were made (5) transactions effected in the customer’s account were unsuitable given the risks and the concentration of speculative investments in the customer’s account and (6) trades had been executed on an excessive basis. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01154 (May 21, 2018).
FINRA Public Disclosure reveals that Ballard is referenced in four more customer initiated investment related disputes that concern accusations of his violative conduct while employed with National Planning Corporation and SunAmerica Securities Inc. A customer initiated investment related arbitration claim regarding Ballard’s activities was resolved for $77,500.00 in damages founded on allegations of the customer’s account having been administered negligently; fiduciary duties being breached; the customer’s account being churned; and the customer having been victim to fraudulent options and equities trades.
On May 9, 2016, a customer filed an investment related complaint in regard to Ballard’s conduct in which the customer requested more than $5,000.00 in damages supported by allegations that the customer was not provided information about margin based investing when transactions had been placed; and inappropriate equities positions were held in the customer’s account causing the customer losses. Another customer filed an investment related complaint on May 9, 2016 involving Ballard’s activities where the customer sought $12,207.33 in damages founded on accusations that the customer’s investment portfolio had been mismanaged resulting in unwarranted poor performance.
Ballard’s employment with National Planning Corporation has been terminated as of April 22, 2015. He was registered with Securities America Inc. between April 21, 2015 and November 30, 2016, at which point he was discharged based upon allegations of him violating the firm’s procedures and policies.
