Carl Duval Cress is currently employed as a Broker and/or Investment Adviser at CAMBRIDGE INVESTMENT RESEARCH, INC. located at 1215 Corperate Cir, Ste 202, Roanoke, VA, 24018.
Carl Duval Cress has worked at CAMBRIDGE INVESTMENT RESEARCH, INC. since March 16, 2016
Disclosure History
Carl Duval Cress has 1 Disclosure Event(s).
Date: January 31, 2011 Category: Customer Dispute Allegations: 10/1/08-1/31/11; THE CLIENT ALLLEGED THAT OUR FA DID NOT FOLLOW HIS INSTRUCTIONS ON THE SALE OF SECURITIES IN HIS ACCOUNT IN 2008 AND THAT THIS INACTION RESULTED IN LOSSES. THE CLIENT ALSO STATED THAT THE FA FAILED TO FOLLOW HIS INSTRUCTIONS FOR THE PURCHASE OF AN $11,000 CD IN 2008. THE CLIENT FURTHER ALLEGED THAT THE FA FAILED TO TRANSFER THE BROKERAGE ACCOUNT TO ANOTHER BROKER DEALER IN A TIMELY MANNER. THE CLIENT STATED THAT THE FA ALSO CONTINUED TO CONTACT HIM IN VIOLATION OF THE DO-NOT-CALL RULES. Damage Amount Requested: $5,000.00 Broker Comment: THE FINANCIAL ADVISOR STATED THAT THERE WERE NO INSTRUCTIONS PROVIDED TO HIM TO LIQUIDATE THE CLIENT'S MUTUAL FUNDS IN JULY OF 2008. OUR INVESTIGATION DID NOT REVEAL ANY SYSTEM NOTES INDICATING THAT THE CLIENT PROVIDED INSTRUCTIONS TO SELL HIS MUTUAL FUNDS. THERE WERE SEVERAL DISCUSSIONS WITH THE CLIENT IN THE FALL OF 2008 REGARDING THESE ASSETS. EVENTUALLY IN FEBRUARY OF 2009, THE CLIENT ELECTED TO LIQUIDATE HIS MUTUAL FUNDS. THERE WERE NO INSTRUCTIONS PROVIDED BY THE CLIENT TO PURCHASE A FIVE YEAR CD. SINCE THE CLIENT ELECTED TO KEEP ONE OF THE BONDS, THE FUNDS WERE NOT AVAILABLE TO PURCHASES A CD.THE CLIENT'S GIRLFRIEND'S MOTHER'S ACCOUNT DID NOT IMMEDIATELY TRANSFER, BECAUSE THE CLIENT SIGNED A DOCUMENT TO STOP THIS TRANSFER. AT A LATER DATE, WHEN THE FA WAS AWAY FROM THE OFFICE, ANOTHER TRANSFER REQUEST CAME IN. SINCE THE BRANCH OFFICE ADMINISTRATOR WAS UNABLE TO OBTAIN THE CLIENT'S SIGNATURE ON A DOCUMENT TO HALT THE TRANSFER, THE ASSETS WERE TRANSFERRED TO ANOTHER BROKER DEALER. ALTHOUGH THE CLIENT WAS ON A DO NOT CALL LIST, THE FA COULD STILL CONTINUE TO CONTACT HER AS LONG AS SHE HAD AN ACCOUNT WITH OUR FIRM.
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for Carl Duval Cress, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
×
BrokerSearch Removal
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.