DID WINSTON WADE TURNER CAUSE YOU INVESTMENT LOSSES?

Winston Turner Formerly With Pruco Securities Has 25 Customer Complaints For Alleged Broker Misconduct

Who is Winston Turner formerly with Pruco Securities?

Winston Turner (CRD #5965386) who was formerly registered with Pruco Securities and located in Sarasota, Florida is a subject of one of our many securities industry sales practice abuse investigations.

Winston Turner Customer Complaints

Winston Turner has been the subject of 25 customer complaints that we know about. Twenty of Winston Turner’s 25 customer complaints were settled in favor of investors. Five of Winston Turner’s customers’ complaints were denied and, to date, the customers have not taken any further action.

Allegations Against Winston Turner

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

• Claimant alleged Winston Turner engaged in unsuitable annuity exchanges and conversion of funds provided for investment.
• Claimants alleged Winston Turner engaged in unsuitable sales, churning, conversion and fraud. This activity is alleged to have begun and to have continued during and after, his association with the firm.
• Claimants alleged Winston Turner engaged in unsuitable sales, churning, conversion and fraud. This alleged activity began prior to his association with the firm and continued for three years.
• Client alleged that Winston Turner promised a 5% return on his investment, did not disclose that his money would be invested aggressively in a variable annuity, did not disclose surrender charges, and provided inaccurate information to the firm about his personal risk tolerance, investment objectives, personal financial information, and prior investment experience.
• Complaint was not initially reported because it was received verbally. The U5 is being Amended because of the settlement amount.
• Customer alleged Winston Turner misrepresented the variable annuity purchased.
• Customer alleged Winston Turner did not explain withdrawal fees when a variable annuity was purchased.
• Customer alleged Winston Turner misrepresented the variable annuities purchased. No specific compensatory damages were alleged.
• Customer alleged Winston Turner misrepresented the variable annuity purchased.
• Customer alleged Winston Turner misrepresented the variable annuity purchased. No specific compensatory damages were alleged.
• Customer alleged Winston Turner misrepresented the variable annuity purchased. No specific compensatory damages were alleged.
• Customer alleged that he provided a check to Winston Turner made out to a company for an alleged investment.
• Regarding the annuity, the client alleged that Winston Turner advised him to surrender the contract less than one year into the contract. The client also alleged he incurred surrender charges. Additionally, he also made a personal loan to the representative.
• Winston Turner allegedly did not disclose surrender charges or market value adjustment charge in connection with surrender of an annuity, misrepresented the tax consequences of such transaction, and misrepresented that there would be no surrender charges due to customer’s disability and that such charges would be returned to her account. RR made some personal payments to the customer and misrepresented them to be reimbursements of the surrender charges. The client alleged that the representative stole money from her and that she lost the money plus interest that could have been gained during that time. Customer alleged that the rep did not fully disclose all the facts regarding Guarantees and Risks.
• The client alleged that Winston Turner did not explain that she would incur annuity surrender charges and that funds she gave to the representative for purchase of a Prudential product were used to purchase a product issued by a different insurer.
• The client alleged Winston Turner’s misrepresentation concerning unauthorized electronic signature.
• The client alleged that Winston Turner did not fully disclose all the facts regarding the guarantees and risks, expenses and fees. The initial customer complaint- the compensatory damages was subsequently settled by the company.
• The client alleged that Winston Turner made several misrepresentations regarding the guaranteed minimum percentage growth and surrender charges provisions of his policies.
• The client alleged that Winston Turner recommended a surrender of a Metlife annuity and did not fully disclose all the facts regarding the tax consequences incurred as a result,.
• The complainants alleged that Winston Turner misrepresented the variable annuities they purchased. The complainants believed that the variable annuities were unsuitable and should not have been recommended. As a result of these purchases, the complainants incurred surrender charges in funding the variable annuities, and were looking to recoup the damages they had sustained.
• The customer alleged that Winston Turner promised a 10% bonus and a 5% year over year growth on the amount deposited into his annuity.

Winston Turner Red Flags & Your Rights As An Investor

Of course, Winston Turner did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Winston Turner at Pruco Securities on alert to review carefully the activity and performance of their accounts and question whether Winston Turner has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Pruco Securities also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Pruco Securities Due To Winston Turner

If you have questions about Pruco Securities and/or Winston Turner and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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