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Woodbury Financial Services: 7 Customer Complaints, 20 Regulatory Sanctions

Woodbury Financial ServicesPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on June 20, 2019 indicate that Minnesota-based brokerage and advisory firm Woodbury Financial Services has received customer complaints and regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Woodbury Financial Services (CRD# 421).

Established in Minnesota in 1968, Woodbury Financial Services is headquartered in Oakdale, Minnesota and registered with 52 US states and territories. Organized as a corporation, its fiscal year ends in December. According to the firm’s BrokerCheck report, Woodbury Financial Services has received seven customer complaints and 20 regulatory sanctions.

In 2019 FINRA sanctioned Woodbury Financial Services in connection to allegations of supervisory failings related to the suitability of mutual fund transactions. In connection with these findings, the firm was censured and issued a fine of $225,000.

In 2017 a customer alleged Woodbury Financial Services breached its fiduciary duty, misrepresented and omitted material facts, churned investments, committed fraud, recommended unsuitable investments, failed in its supervisory duties, and executed unauthorized trades. The complaint resulted in an award to the customer of more than $1,091,500.

In 2014 a customer alleged Woodbury Financial Services breached its fiduciary duty, misrepresented material facts, recommended unsuitable investments, and acted negligently. The complaint resulted in an award to the customer of $9,600.

In 2010 a customer alleged the firm breached its fiduciary duty, made misrepresentations of material facts, omitted material facts, recommended unsuitable investments, executed unauthorized trades, breached contract, made erroneous charges, failed in its supervisory duties, made margin calls, and acted negligently. The complaint resulted in an award to the customer of more than $171,400.

In 2009 a customer alleged the firm engaged in unspecified misconduct. The complaint resulted in an award to the customer of more than $605,800.

In 2005 a customer alleged the firm breached contract, failed in its supervisory duties, and acted negligently. The complaint resulted in an award to the customer of $122,300.

In 2001 a customer alleged the firm breached its fiduciary duty, made misrepresentations of material facts, recommended unsuitable investments, and failed in its supervisory duties. The complaint resulted in an award to the customer of more than $111,300.

In 2000 a customer alleged the firm breached its fiduciary duty, breached contract, and acted negligently. The complaint resulted in an award to the customer of more than $171,700.

If you or someone you know has lost money investing with Woodbury Financial Services, call the experienced attorneys at 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.