Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on December 4, 2018 indicate that Texas-based LPL Financial broker/adviser Celia Scott has been involved in a customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Scott (CRD# 2870484).
Celia Scott has spent 21 years in the securities industry and has been registered with LPL Financial in Beaumont, Texas since 2015. Previous registrations include AXA Advisors in Beaumont, Texas (2007-2016); AIG Financial Advisors in Beaumont, Texas (2005-2008); SunAmerica Securities in Phoenix, Arizona (1997-2005); and PFS Investments in Duluth, Georgia (1997). She has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which she obtained on December 2, 1999; Series 63 (Uniform Securities Agent State Law Examination), which she obtained on May 14, 1997; SIE (Securities Industry Essentials Examination), which she obtained on October 1, 2018; Series 7 (General Securities Representative Examination), which she obtained on January 20, 2010; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which she obtained on August 27, 1997. She is a registered broker and investment adviser with five US states and territories: the District of Columbia, Florida, Louisiana, Texas, and the US Virgin Islands.
According to her BrokerCheck report, she has received one customer complaint.
In 2016 a customer alleged Celia Scott, while employed at AXA Advisors, misrepresented material facts in connection to the purchase of a variable annuity investment in 2011. The complaint settled in January 2018 for $60,000.
Variable annuities are investment products similar in nature to mutual funds, though they three noteworthy additional features: a tax-deferred treatment of earnings, a death benefit, and payout options that can provide guaranteed income for the rest of the investor’s life. A common complaint regarding variable annuity investments is that a broker or investment adviser failed to inform an investor about the various sales charges and fees associated with variable annuities, for instance the surrender charge—a sales fee incurred when investors withdraw money from the variable annuity within a certain period of time after the purchase, and which usually pay a commission to the broker or investment adviser tied to the amount withdrawn. Brokers who fail to properly educate their customers about a product’s surrender charge may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Celia Scott, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.