Brian Radoo (CRD#: 2558458), a former registered representative, has been terminated from Next Financial Group, Inc., according to his BrokerCheck record accessed on January 20, 2020.
What happened? Next Financial Group, Inc. found that Brian Radoo participated in outside business activities without requesting and receiving the firm’s prior approval. As a result, the firm terminated him.
According to his BrokerCheck, this is not the first time that Brian Radoo has been terminated from a firm. On February 13, 2008, Chase Investment Services Corporation terminated Brian Radoo after it found that he falsified where an annuity document was signed. FINRA, the Financial Industry Regulatory Authority, also issued Brian Radoo a “Letter of Caution.”
Brian Radoo’s BrokerCheck also lists two settled customer disputes. On April 16, 2008, a client alleged that the Unit Investment Trust (UIT) that they purchased was unsuitable given their investment objectives. The dispute was settled for $15,981.36. Investors should do their research before investing in a unit investment trust. A unit investment trust (UIT) is a company that holds a group of securities (typically stocks and bonds), selling them to investors as redeemable units for a set amount of time. UITs can be appealing to investors because the required initial investment is low. UITs are not actively traded, and thus have lower management fees than mutual funds. There is also a disadvantage to this. Dividends are not reinvested into the trust, so some investors may be better off directly investing in mutual funds or stocks.
On October 27, 2005, a customer alleged that Brian Radoo sold him an unsuitable investment product. The client claims that he was seeking a short-term liquid investment with around a 3% interest rate, but that was not what Brina Radoo recommended. The client requested $13,178 in damages, and the matter was settled for that sum.
Brian Radoo is not currently registered as a broker. Over his 24-year career in the securities industry, he has worked for the following brokerage firms:
- Next Financial Group, Inc. (CRD#: 64214)
- Chase Investment Services Corp. (CRD#: 25574)
- HSBC Securities (USA) Inc. (CRD#: 19585)
- HSBC Brokerage (USA) Inc. (CRD#: 6956)
- Citicorp Investment Services (CRD#: 23988)
- Chase Investment Services Corp. (CRD#: 25574(
- Chemical Investment Services Corp. (CRD#: 36312)
If Brian Radoo was your broker and you have concerns about your investments, don’t hesitate to contact a securities attorney. Call (877) 238-4175 or email email@example.com for your free consultation with the securities attorneys of Fitapelli Kurta.