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Sagepoint Broker, Scott Aabel: Complaints

shutterstock_123948847The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Florida-based Sagepoint broker/adviser Scott Aabel (CRD# 1493667).

Scott Aabel has spent 24 years in the securities industry and has been registered with Sagepoint Financial Services in Nokomis, Florida since 2013. Previous registrations include Prime Capital Services in Nokomis, Florida (1991-2013) and Lutheran Brotherhood Securities in Minneapolis, Minnesota (1991). Mr. Aabel is a registered broker and investment adviser in Florida and Washington, DC.

According to his BrokerCheck report, Scott Aabel is the subject of three customer complaints, six customer complaints that were closed or denied, one regulatory sanction, and three tax liens.

In 2012 the Florida Division of Securities sanctioned Scott Aabel, while he was employed at Prime Capital Services, following allegations he violated Florida statutes, National Association of Securities Dealers (NASD) rules, and Financial Industry Regulatory Authority (FINRA) rules. Mr. Aabel was ordered to pay restitution of $100,000 and issued a fine of $70,000.

In 2009 a customer alleged Scott Aabel, while employed at Asset & Financial Planning Ltd., charged advisory fees that caused a partial loss of a living benefit rider. The complaint settled for more than $6,000.

In 2007 a customer alleged Scott Aabel, while employed at Prime Capital Services, misrepresented the performance, surrender charges, and fees associate with a variable annuity purchase. The customer sought more than $13,000 in damages in the complaint, which was denied.

In 2005 a customer alleged Scott Aabel, while employed at Prime Capital Services, recommended an unsuitable investment in promissory notes, which constituted an unregistered security. The complaint settled in 2006 for $117,000.

In 2004 a customer alleged Scott Aabel, while employed at Prime Capital Services, recommended an unsuitable investment in an unregistered security. The complaint settled in 2006 for $130,000.

In 2004 a customer alleged Scott Aabel, while employed at Prime Capital Services, unsuitably recommended two variable annuities. The customer sought $130,000 in damages in the complaint, which was denied.

The Internal Revenue Service (IRS) has reported three outstanding tax liens against Scott Aabel: in 2013 for more than $45,000; in 2012 for more than $203,000; and in 2012 for more than $88,000.

If you or someone you know has a complaint regarding Scott Aabel, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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