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Richard Russo Formerly With Chelsea Financial Services And IFS Securities Has 9 Customer Complaints For Alleged Broker Misconduct

Who is Richard Russo formerly with Chelsea Financial Services?

Richard Russo (CRD #843283) who was formerly registered with Chelsea Financial Services and located in Ladeca Ranch, California is a subject of one of our many securities industry sales practice abuse investigations. Prior to Chelsea Financial Services, Richard Russo was associated with IFS Securities and other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Richard Russo Customer Complaints

Richard Russo has been the subject of 9 customer complaints that we know about. Seven of Richard Russo’s 9 customer complaints were settled in favor of investors. Two of Richard Russo’s customers’ complaints were denied and, to date, the customers have not taken any further action

Allegations Against Richard Russo

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Richard Russo’s alleged excessive trading, churning and unsuitability.
  • Client alleged that various investments on mutual funds made by Richard Russo were not appropriate for her, once they declined in value.
  • Unsuitable Investments allegedly by Richard Russo that resulted in a loss of principal.
  • Customer alleged that she had requested Richard Russo to send her a check for all of her money. She alleges in the complaint the check was $2k less than expected then follows up by saying that she believes that interest should be paid and accusing the representative of using $12,000 for personal use.

Richard Russo Red Flags & Your Rights As An Investor

Of course, Richard Russo did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Richard Russo at Chelsea Financial Services and IFS Securities on alert to review carefully the activity and performance of their accounts and question whether Richard Russo has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Chelsea Financial Services and IFS Securities also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Chelsea Financial Services and IFS Securities Due To Richard Russo

If you have questions about Chelsea Financial Services, IFS Securities, and/or Richard Russo and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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