Jorge Menendez: $800K Complaint Against Citi Advisor

Miami financial advisor Jorge Menendez (CRD# 5138358) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Citigroup Global Markets.

Mr. Menendez’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2023, alleges that as a representative of Citigroup Global Markets, he over-concentrated the investors’ portfolio in “esoteric Auto-callable Structured Notes.” The pending complaint alleges damages of $800,000.

A second investor complaint, filed in 2014, alleged that as a representative of BB&T Investment Services, he recommended an unsuitable unit investment trust and misrepresented material facts regarding the product. In 2014 the complaint reached a settlement of $49,500. A comment included with the disclosure states that “BB&T found no fault with their representative’s actions or advice” and settled the complaint “to avoid the uncertainty and expense of litigation.”

According to the Financial Industry Regulatory Authority, Jorge Menendez holds 16 years of securities industry experience. Based in Miami, Florida, he has been a broker and an investment advisor with Citigroup Global Markets since 2013. His past registrations include BB&T Investment Services (Miami, Florida; 2012-2013), Morgan Keegan & Company (Coral Gables, Florida; 2010-2012), Amtrust Investment Services (Coral Gables, Florida; 2007-2010), and Quest Capital Strategies (Laguna Hills, California; 2007). His credentials include the passage of four securities industry qualifying exams: 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 is licensed in California, Delaware, Florida, Georgia, Massachusetts, New York, Puerto Rico, Texas, Virginia, and Washington. (Information current as of February 10, 2024.)

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