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Chadwick Watson: Oil & Gas Complaint Against Charter Financial Advisor
Annapolis financial advisor Chadwick Watson (CRD# 2183286) has received investor complaints alleging unsuitable sales and other forms of misconduct. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Lincoln Financial Advisors Corporation. He is a representative of Charter Financial Group.
Mr. Watson’s BrokerCheck report discloses two investor complaints. The most recent, filed in July 2022, alleges that as a representative of Lincoln Financial Advisors Corporation, he recommended an unsuitable oil and gas investment. The pending complaint alleges unspecified damages believed to be more than $5,000.
In a statement on the pending complaint’s disclosure, Mr. Watson defended himself against the allegations. “The oil and gas investment was part of a holistic financial plan looking at cash needs, risk tolerance, and keeping the asset allocation of the entire portfolio in mind,” he wrote, continuing: “The investment represented less than 5% of the clients liquid net worth and did not raise the risk tolerance. All risks were explained, documented, and signed off not only by the client but by a principal of LFA, our broker-dealer. All compensation was established and disclosed to the clients. I believe the complaint is without merit in every way. I still work with one of the clients mentioned.”
An earlier investor complaint, filed in 2017, alleged that as a representative of Lincoln Financial Advisors, he made unsuitable sales and disclosure failures in connection with investments in a variable annuity, a real estate investment trust, a third-party managed account, and an oil and gas program. In 2018 the complaint reached a settlement of $150,000.
According to the Financial Industry Regulatory Authority, Chadwick Watson holds 30 years of securities industry experience. Based in Annapolis, Maryland, he has been a broker and an investment advisor with Lincoln Financial Advisors since 1992 and 1993, respectively. He is a representative of Charter Financial Group. He was previously registered with the Lincoln National Life Insurance Company in Fort Wayne, Indiana from 1992 until 2006. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 42 state licenses. (Information current as of August 26, 2022.)
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