Former Baton Rouge, Louisiana-based LPL Financial broker Patrick Coogan (CRD# 4576580) has been barred by the Financial Industry Regulatory Authority...Read More
Derrick Trussell: San Antonio Financial Advisor Barred by FINRA
A disciplinary action taken by the Financial Industry Regulatory Authority against former San Antonio, Texas broker and investment advisor Derrick Trussell (CRD# 5197550) barred him after finding he refused to provide information in connection with a FINRA investigation into possible misconduct. A former representative of PFS Investments, Trussell was barred from acting as a broker or otherwise associating with a broker-dealer firm.
FINRA records show that Derrick Trussell was barred in December, 2018, after he failed to request termination of a suspension issued in August 2018. The suspension resulted from his failure to respond to a FINRA request for information. It also followed his termination in May 2017 from PFS Investments over allegations that he participated in an “unapproved outside business activity and/or an undisclosed private securities transaction” involving the use of a customer’s funds to purchase unapproved securities without the customer’s awareness or authorization.
Derrick Trussell has also received four customer complaint’s detailing similar allegations—that he sold investments not approved by the firm. One such complaint, filed in March 2019, alleged that he misrepresented investments that were not offered by his member firm—PFS Investments, also known as Primerica. The complaint reached a settlement of $8,872.57. Another complaint filed that month alleged that Derrick Russell misrepresented to the claimant that her funds were being invested with Primerica. The complaint reached a settlement of $8,000. A third complaint filed in 2019 alleged that Derrick Trussell made an unauthorized transaction. The complaint reached a settlement of $33,000. A fourth complaint, alleging that he misrepresented investments not sold by Primerica, reached a settlement of $50.
Derrick Trussell is currently not registered as a broker or investment advisor. His employment history includes PFS Investments in San Antonio, Texas, where he was registered from 2006 until 2017. He currently holds zero state licenses and has passed four securities industry qualification examinations.