SAMUEL ELLIOT RODRIGUEZ is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 1333 W. MCDERMOTT DRIVE, SUITE 150, ALLEN, TX, 75013.
SAMUEL ELLIOT RODRIGUEZ has worked at LPL FINANCIAL LLC since September 16, 2016
SAMUEL ELLIOT RODRIGUEZ has 1 Disclosure Event(s).
Date: May 14, 2012 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE RESPONDENTS SET UP THEIR ACCOUNTS WITH AN INACCURATE RISK TOLERANCE THAT WAS TOO AGGRESSIVE AND UNSUITABLE FOR THEIR SITUATION. CLAIMANTS FURTHER ALLEGE THEY REQUESTED THAT THE ACCOUNTS BE INVESTED MORE CONSERVATIVELY AND RESPONDENTS DID NOT MAKE THE REQUESTED CHANGES. AS A RESULT, CLAIMANTS ALLEGEDLY SUFFERED DAMAGES AND REQUEST $32,000 IN COMPENSATORY DAMAGES AND $7,200 IN PUNITIVE DAMAGES. Damage Amount Requested: $32,000.00 Settlement Amount: $9,736.60 Broker Comment: I AM NOT THE ADVISOR THAT SET UP THE CLIENT'S ACCOUNT WITH THE ORIGINAL RISK TOLERANCE. I DO BELIEVE THAT THEIR INVESTMENTS WERE APPROPRIATE FOR THEIR SITUATION, RISK TOLERANCE AND WHAT THEY WANTED THE ACCOUNTS TO DO FOR THEM. DURING MY TIME AS THE CLIENT'S ADVISOR EACH TIME THE CLIENT EXPRESSED CONCERN WE WOULD DISCUSS THEIR CONCERN, WHAT THAT WOULD MEAN TO THE ACCOUNT, AGREE ON WHAT ACTION TO TAKE AND ACT ACCORDINGLY. I ALSO BELIEVE THAT A SIGNIFICANT PORTION OF THE DROP IN THE ACCOUNT WAS DUE TO THE CLIENT TAKING INCOME FROM THE ACCOUNT, NOT MARKET CONDITIONS.AMERIPRISE CHOSE TO SETTLE THE MATTER IN ORDER TO AVOID THE COSTS ASSOCIATED WITH FINRA ARBITRATION.
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