The allegations read: Client deceased (1/15/2024), complainant is [redacted] who is personal representative on his estate and was former guardian on ira account (as of 3/27/2023). Complainant alleges unsuitable investments and breach of fiduciary duty. Client transferred into firm, following rr's transition to the firm, in june 2019. Client bought a position in june 2000 and three additional positions in december 2000. The remaining transactions were unsolicited sales to generate funds for distributions either by the client or the complainant/guardian. The dates involved in the allegations would be june 2019 to january 2024. The actual net losses on the account given the market value of the account received in june 2019, less distributions either to the client, or for taxes, was approximately $4500.
