Bruce Musselman Accused of Unsuitable Investment Recommendations and Sales

According to publicly available records with the Financial Industry Regulatory Authority (FINRA), Fortune Financial Services broker Bruce Musselman has been subject to nine customer complaints and one criminal regulatory action. In February 2013, Musselman allegedly recommended unsuitable investments, misrepresented securities, over-concentrated customer funds into aggressive investments and excessively used margin. From 2007 until 2009, a customer alleged that Mr. Musselman recommended highly risky investments that were unsuitable and inappropriate to the customer’s needs. These are all against securities laws and internal firm rules. A broker has a duty to do his due diligence on every security he recommends or sells by taking into account the customer’s age, net worth, investment objectives and investment sophistication, among other things. He also has a duty to disclose all the risks associated with every investment. If he does not do so, his brokerage firm may be liable for investment losses, because the firm had a duty to reasonably supervise him while he was registered with that firm. The firm may be liable on a contingency fee basis if you suffered money losses because of Bruce Musselman’s investment recommendations.
According to online records with FINRA, Bruce Mussel man is not currently registered within the securities industry. Previously, he was registered with Ameriprise in Cocoa, Florida from October 1996 until 2009, Newbridge Securities Corp in Heathrow, Florida from November 2010 until February 2013, IFS Securities in Cocoa from February 2013 until March 2015 and Fortune Financial Services in Cocoa from July 2015 until December 2017. He has nine customer disputes against him and one criminal matter.