Four investor complaints have been filed against Raul Benitez (CRD#: 4457185, Aventura, Florida), as revealed by the Financial Industry Regulatory Authority (FINRA) through his BrokerCheck record. Suitability and misrepresentation are the issues highlighted in one of these complaints.
Benitez, on his part, has denied all allegations of violation of sales practices.
Securities industry record of Benitez
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Between 2014 and 2018, Benitez worked as a securities broker for SunTrust Investment Services in Miami. He also operated as a financial advisor for SunTrust Investment Services between 2014 and 2016 and as one for SunTrust Advisory Services between 2016 and 2018.
Thereafter, he joined Wells Fargo Clearing Services in Aventura, Florida, and Hialeah, Florida.
He worked for Chase Investment Services Corp. before he joined SunTrust.
Summary of complaints
A client of Chase Investment Services Corp. filed a dispute claiming that the signatures on their mutual funds account documentation were not authentic, which tantamounted to misconduct. The claim of the client was refuted by Chase Investment Services Corp.
In February 2019, a client of SunTrust Investment Services filed a claim on the basis of the unsuitability of the transactions done by Benitez. The client claims to have incurred losses in the investments made in the managed account recommended by Benitez. This case appears to have been settled by SunTrust Investment Services for $8.486.24.
In December 2020, a complaint was filed by a client of Wells Fargo Clearing Services, once again contending unsuitable advice and misrepresentation. In this case, the strategy, which the client followed on the recommendation of Benitez, required collateralizing the client’s portfolio for a loan. Damages sought in this case amount to $700,000.
In July of 2021, a FINRA arbitration claim was filed by a client of SunTrust Investment Services, naming Benitez, claiming his recommendation for buying a Northstar investment to be unsuitable. The client who filed the complaint apparently lost money on what was sold as a guaranteed contract of investment. An amount of $218,707 has been sought by the claimant as compensation.
Are you concerned about your dealings with Raul Benitez?
If you have had dealings with Benitez and are concerned you could have been adversely affected as a result, you can speak with a skilled investment lawyer, Haselkorn & Thibaut, P.A., to explore your options for recovery. We have supported many clients in their claims against several financial advisors and their brokerage firms.
works on a contingency basis. In other words, they bear all costs in case of non-recovery. They can be reached at 1-800-856-3352.