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Luis Mendoza: Did Truist Advisor Misrepresent Investment?
Potomac, Maryland financial advisor Luis Mendoza (CRD# 4373652) was recently involved in an investor complaint alleging his conduct resulted in losses. Records maintained by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with Truist Investment Services.
Mr. Mendoza’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2022, alleges that as a representative of SunTrust Investment Services, he misrepresented the terms of a callable fixed rate note. In February 2023 the complaint reached a settlement of $41,618.96.
An earlier investor complaint, filed in 2008, alleged that as a representative of HSBC Securities, he omitted information regarding the sale of auction rate securities. The complaint resolved with the firm’s repurchase of the securities at par value, for $1,000,000.
A third investor complaint, filed in 2015, alleged that he sold two variable universal life insurance policies “that were not what [the customers] wanted.” The complaint alleged damages of $47,000 and was denied by the firm.
A fourth investor complaint, filed in 2013, alleged that he recommended unsuitable mutual fund investments while at HSBC Securities. The complaint alleged damages of $11,857 and was denied by the firm.
According to the Financial Industry Regulatory Authority, Luis Mendoza holds 21 years of securities industry experience. Based in Potomac, Maryland, he has been a broker and an investment advisor with Truist Investment Services since 2015 and 2016, respectively. His past registrations include SunTrust Investment Services (Rockville, Maryland; 2015-2016), HSBC Securities (Washington, DC; 2007-2015), SunTrust Investment Services (Washington, DC; 2004-2007), and Morgan Stanley (Chevy Chase, Maryland; 2002-2004). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Delaware, the District of Columbia, Florida, Georgia, Maryland, New York, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. (Information current as of March 12, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.