ROBERT C FROSS is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 910 OLD CAMP ROAD STE 90, THE VILLAGES, FL, 32162.
ROBERT C FROSS has worked at LPL FINANCIAL LLC since February 14, 2018
ROBERT C FROSS has 3 Disclosure Event(s).
Date: May 01, 2013 Category: Customer Dispute Allegations: CUSTOMER CLAIMS INVESTMENT WAS UNSUITABLE FOR THEIR IRA. Damage Amount Requested: $144,368.53 Broker Comment: IT WAS DETERMINED AFTER AN INVESTIGATION BY MR. FROSS' BROKER DEALER THAT THE REIT PURCHASE WAS A SUITABLE RECOMMENDATION FOR THE CLIENTS IRA.
Date: April 01, 2013 Category: Customer Dispute Allegations: CLIENTS ALLEGE UNSUITABLE AND INAPPROPRIATE INVESTMENT RECOMMENDATIONS INVOLVING THE SWITCHING OF ANNUITY CONTRACTS AND PURCHASE OF SPECULATIVE ILLIQUID REIT. Damage Amount Requested: $112,000.00 Settlement Amount: $14,000.00 Broker Comment: MR. FROSS DENIES ENGAGING IN ANY WRONGDOING OR HAVING ANY LIABILITY WITH RESPECT TO THE CLAIMS MADE IN THIS ARBITRATION. THE SETTLEMENT WAS MADE TO AVOID THE COST OF LITIGATION AND MR. FROSS DID NOT PARTICIPATE IN ITS NEGOTIATION OR MAKE ANY CONTRIBUTION TOWARD IT.
Date: September 02, 2011 Category: Customer Dispute Allegations: CLIENT ALLEGES SHE WANTED NO RISK AND FEELS THE TWO ANNUITY CONTRACTS SHE PURCHASES IN 2010 ARE UNSUITABLE AND CANNOT GET OUR DUE TO EARLY WITHDRAWAL PENALTY. Broker Comment: COMPLAINT WAS DENIED BECAUSE IT HAD NO MERIT. CLIENT'S ACCOUNTS WERE ALL UP IN VALUE WHILE SHE WAS WITH OUR FIRM. CLIENT'S CHIEF FINANCIAL CONCERN WAS OUTLIVING HER INCOME AND THIS WAS ADDRESSED BY THE WITHDRAWL GUARANTEES ON HER VARIABLE ANNUITIES, WHICH WERE LESS THAT 50% OF HER PORTFOLIO. CLIENT CLEARLY UNDERSTOOD THE RISKS ASSOCIATED WITH THE MARKET EXPOSURE, AS WELL AS THE CONTINGENT DEFERRED SALES CHARGES. WE ALSO KEPT A LARGE PERCENTAGE OF HER PORTFOLIO LIQUID AND ALWAYS MANAGED ALL ACCOUNTS IN ACCORDANCE WITH HER RISK TOLERANCES.
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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.
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