Nineteen-year industry veteran Truist Investment Services, Inc. broker Edward Cohen (CRD# 4693017) is accused of unsuitable investment recommendations related to a Guaranteed Income Contract (GIC). He has been registered with Truist Investment Services, Inc. in Bal Harbour, Florida, since 2007 and with Truist Advisory Services, Inc. in Bal Harbour, Florida, since 2016.
A GIC is an agreement between an investor and an insurance company that is used in retirement plans. The insurer guarantees the investor a designated rate of return. In exchange, the investor holds the deposit for a specified period of time. These investments appeal to risk-averse investors or those looking for a conservative investment. GICs are risky because the low return rate puts them at risk of inflation.
Edward Cohen Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
October 2023. “Client alleges the investment was unsuitable.” The case is currently pending. The complaint took place while he was registered with Truist Investment Services, Inc., and it was regarding an unsuitable investment in a GIC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Truist Investment Services, Inc. may be liable for investment or other losses suffered by Edward Cohen’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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