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Broker Spotlight: Raymond Clark (Woodstock Financial Group)

Raymond ClarkPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 5, 2016 indicate that New York-based Woodstock Financial Group broker Raymond Clark has received several customer complaints. The securities and investment fraud law firm is interested in speaking to investors who have complaints regarding Mr. Clark (CRD# 2865619).

Raymond Clark has spent 19 years in the securities industry and has been registered with Woodstock Financial Group in Staten Island, New York since 2013. Previous registrations include Chelsea Financial Services in Staten Island, New York; JP Turner & Company in Tinton Falls, New Jersey; Grayson Financial, which has since been expelled by FINRA, in Red Bank, New Jersey; and MS Farrell & Company in Syosset, New York. He is a registered broker and investment adviser with 25 US states and territories.

According to his BrokerCheck report, Raymond Clark has received five customer complaints.

In 2013, a customer alleged Raymond Clark, while employed at JP Turner & Company, mismanaged the account, acted negligently, and breached his fiduciary duty. The complaint settled in 2014 for $700,000.

In 2010, a customer alleged Raymond Clark, while employed at JP Turner & Company, breached his fiduciary duty, churned the account, acted negligently, committed fraud, and misrepresented material facts. The complaint settled in 2011 for $70,000, to which Mr. Clark individually contributed $70,000.

In 2010, a customer alleged Raymond Clark, while employed at JP Turner & Company, misrepresented material facts, sold unsuitable securities, executed excessive and unauthorized trades, breached his fiduciary duty, and committed fraud. The complaint settled for $38,000, to which Mr. Clark individually contributed $38,000.

In 2003, a customer alleged Raymond Clark, while employed at Grayson Financial, misrepresented material facts and executed unauthorized trades. The complaint settled for $23,000, to which Mr. Clark individually contributed $23,000.

In 2003, Raymond Clark resigned from his position at Grayson Financial following “allegations regarding abuse of margin, failure to execute trades and unauthorized trades.”

In 2002, a customer alleged Raymond Clark, while employed at Grayson Financial, recommended unsuitable investments. The complaint settled in 2003 for $40,000.

If you have lost money investing with Raymond Clark, you may be entitled to recoup your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.