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Investor Alleges Russell Cappelen Made Unsuitable Mutual Fund Investments

Russell CappelenPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 23, 2018 indicate that Florida-based UBS Financial Services broker/adviser Russell Cappelen has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Cappelen (CRD# 1261781).

Russell Cappelen has spent 34 years in the securities industry and has been registered with UBS Financial Services in Vero Beach, Florida 1999. Previous registrations include New York, New York (1988-1999) and Merrill Lynch (1984-1988). He has received five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on September 13, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 6, 1984; Series 3 (National Commodity Futures Examination), which he obtained on January 5, 1990; Series 7 (General Securities Representative Examination), which he obtained on May 19, 1984; and Series 8 (General Securities Sales Supervisor Examination [Options Module & General Module]), which he obtained on July 25, 1994. He is a registered broker and investment adviser with 21 US states and territories: Alabama, California, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Vermont, and Virginia.

According to his BrokerCheck report, he has four customer complaints and one pending customer complaint.

In April 2018 a customer alleged Russell Cappelen, while employed at UBS Financial Services, recommended unsuitable mutual fund investments. The customer is seeking unspecified damages in the pending complaint.

In 2000 a customer alleged Russell Cappelen, while employed at Prudential Securities, executed an unauthorized purchase. The complaint settled for more than $15,500.

In 1999 a customer alleged Russell Cappelen, while employed at Prudential Securities, recommended an unsuitable investment in Iridium World Communications stock. The complaint settled for $4,300.

In 1993 a customer alleged he, while employed at Merrill Lynch, misrepresented material facts, breached his fiduciary duty, made unsuitable recommendations, and breached contract. The complaint settled for $95,000.

In 1993 a customer alleged he, while employed at Merrill Lynch, breached his fiduciary duty, acted negligently, breached contract, and failed in his supervisory duties. The complaint settled for $14,000.

If you or someone you know has lost money investing with Russell Cappelen, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect 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.