Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 16, 2018 indicate that Texas-based TCFG Wealth Management broker Don Traywick was recently sanctioned by FINRA in connection to alleged rule violations and suspended from acting as a broker. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Traywick (CRD# 2410109).
Don Traywick has spent 24 years in the securities industry and has been registered with TCFG Wealth Management in Missouri City, Texas since January 2017. Previous registrations include Grown Capital Securities in San Clemente, California (2000-2016); Linsco/Private Ledger Corporation in Boston, Massachusetts (1997-2000); First Allied Securities in San Diego, California (1995-1997); and Chatfield Dean & Company in Greenwood Village, Colorado (1993-1995). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on December 7, 1993; Series 7 (General Securities Representative Examination), which he obtained on December 1, 1993; and Series 24 (General Securities Principal Examination), which he obtained on August 23, 1997. He is a registered broker with ten US states: Arizona, California, Colorado, Kentucky, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, and Washington.
According to his BrokerCheck report, he has received one FINRA sanction and two customer complaints.
In April 2018 FINRA sanctioned him following allegations he recommended and executed unsuitable short-term switches of Class A mutual fund shares in client’s accounts. According to FINRA’s findings, his recommendations “resulted in the customer paying unnecessary front-end sales loads with each new recommended purchase” and the customer experiencing losses totaling $5,113. According to FINRA, Mr. Traywick did not have a reasonable basis to believe the transactions were suitable for the client. He was issued a 3-month suspension and ordered to pay a fine of $5,000 and disgorgement of $10,000.
In 1998 a customer alleged he recommended unsuitable investments and executed unauthorized trades. The complaint settled for $33,500.
In 1997 a customer alleged Don Traywick, while employed at First Allied Securities, breached his fiduciary duty, misrepresented material facts, recommended unsuitable investments, and acted negligently. The complaint settled for $28,500.
If you or someone you know has lost money investing with Don Traywick, 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.