JOSE IVAN ACOSTA JORDAN is currently employed as a Broker and/or Investment Adviser at NATIONWIDE PLANNING ASSOCIATES INC. located at 31 Calaf St, Hato Rey, PR, 00918.
JOSE IVAN ACOSTA JORDAN has worked at NATIONWIDE PLANNING ASSOCIATES INC. since January 29, 2016
Disclosure History
JOSE IVAN ACOSTA JORDAN has 6 Disclosure Event(s).
Date: February 01, 2018 Category: Customer Dispute Allegations: Claimant alleges that Financial Consultant investment recommendations to purchase and to hold P.R. securities were unsuitable in light of the clients' risk tolerance. Claimants also allege that recommendations made by the Financial Consultant were particularly egregious in light of Puerto Rico's well known deteriorating financial condition. Damage Amount Requested: $1,600,000.00
Date: May 23, 2016 Category: Customer Dispute Allegations: Claimants allege that Financial Consultant made misrepresentations and omissions in order to persuade Claimants to hold the UBS Tax Free P.R. Fund, Inc. instead of selling or reducing their exposure to this illiquid and speculative investment. Claimants also allege that they were not advised of the risk associated with holding a concentrated position representing the entire value of their account. Damage Amount Requested: $60,000.00 Settlement Amount: $17,500.00
Date: April 11, 2016 Category: Customer Dispute Allegations: The customer alleges unsuitable investment recommendations and misrepresentation and omission of material facts from September 2003 to April 2009. Damage Amount Requested: $709,619.00 Settlement Amount: $70,000.00
Date: June 05, 2015 Category: Customer Dispute Allegations: OVERCONCENTRATION IN PR INVESTMENTS Damage Amount Requested: $400,000.00
Date: November 17, 2014 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE THAT FINANCIAL CONSULTANT MADE UNSITABLE INVESTMENT RECOMMENDATIONS TO PURCHASE PUERRO RICO GENERAL BONDS; P.R. CLOSE END FUNDS; AND DORAL, WESTERNBANK, POPULAR INC. STOCKS RESULTING IN AN OVER CONCENTRATED AND HIGH RISK PORTFOLIO, WHICH WERE UNSUITABLE INVESTMENT POSITIONS IN LIGHT OF THE CLIENT'S RISK TOLERANCE AND WISH TO PRESERVE HIS CAPITAL. CLAIMANTS ALSO ALLEGE THAT FINANCIAL CONSULTANT MADE FALSE AND MISLEADING REPRESENTATIONS REGARDING THE PRODUCTS RISKS AND FAILED TO ADVISE AS TO THE CURRENT STATUS OF THEIR INVESTMENTS. Damage Amount Requested: $1,000,000.00 Settlement Amount: $237,500.00
Date: March 24, 2003 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE "ACTIONS TAKEN BY MR. ACOSTA WERE NOT CONSISTENT WITH THE INVESTMENT OBJECTIVES..." AND THAT "REPRESENTATIONS BY MR. ACOSTA REGARDING THE MUTUAL FUNDS WERE NOT TRUE." DAMAGES ESTIMATED TO EXCEED $5,000. Damage Amount Requested: $5,000.00 Settlement Amount: $30,000.00
More Information
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