Franklyn Clark: Investor Complaint Alleged Unsuitable, Over-Concentrated Treasury Securities

Franklyn ClarkPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on November 21, 2018 indicate that former Maryland-based United Brokerage Services broker/adviser Franklyn Clark has received a customer dispute and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Clark (CRD# 1960303).

Franklyn Clark has spent 29 years in the securities industry and was most recently registered with United Brokerage Services in Bethesda, Maryland (2011-2018). Previous registrations include Wells Fargo Advisors in Washington, DC (2006-2011) and Morgan Stanley DW in Bethesda, Maryland (1989-2006). He has passed seven securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 2, 2002; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 28, 1989; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 31 (Futures Managed Funds Examination), which he obtained on April 23, 1998; Series 7 (General Securities Representative Examination), which he obtained on August 19, 1989; Series 10 (General Securities Sales Supervisor – General Module Examination), which he obtained on February 8, 2008; and Series 9 (General Securities Sales Supervisor – Options Module Examination), which he obtained on September 28, 2007. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and three denied customer complaints.

In October 2018 a customer alleged Franklyn Clark, while employed at United Brokerage Services, unsuitable recommended an over-concentrated, illiquid investment in 18-year treasury STRIPs. The complaint settled for more than $31,600.

In 2007 a customer alleged Franklyn Clark, while employed at Morgan Stanley & Company, executed an unauthorized purchase of an unsuitable annuity. The customer sought $19,5000 in damages in the complaint, which was denied.

In 2006 a customer alleged Franklyn Clark, while employed at Morgan Stanley DW, made unauthorized trades, recommended unsuitable investments, and omitted material facts regarding certain investments. The customer sought $1,000,000 in damages in the complaint, which was denied.

In 2003 a customer alleged he, while employed at Morgan Stanley DW, failed to inform them regarding certain features of a variable annuity investment. The customer sought unspecified damages in the complaint, which was denied.

If you or someone you know has a complaint regarding Franklyn Clark, call the attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.