Warning to Investors: Ausdal Financial Partners, Inc. Broker Christopher Neston Investment Losses
Posted on Tuesday, November 5th, 2019 at 11:42 am
There are options for customers of Ausdal Financial Partners, Inc. broker Christopher Neston (CRD# 2741497) who suffered investment losses. Neston has been registered with Ausdal Financial Partners, Inc. in North Oaks, Minnesota since 2011.
Neston has been the subject of two customer complaints between 2017 and 2019, according to his CRD report:
May 2019. “Customer alleges Representative made unsuitable recommendations resulting in concentrated illiquid, alternative investments because they paid high commissions. The customer also alleges receipt of inaccurate information about the performance of the investments.” The customer is seeking $466,800 in damages and the case is currently pending. The complaint took place while Neston was registered with Ausdal Financial Partners.
September 2017. “Client alleges recommendation to move money from defined benefit plan to Jackson annuity, in 2009 and prior to joining AFP, was unsuitable. Also, that a subsequent purchase of UDF in December 2015 was unsuitable and speculative. Client also alleges that investments for his wife’s retirement funds were unsuitable and speculative.” The customer sought $225,012.80 in damages and the case was settled for $75,000. This case is regarding variable annuities, equipment leasing, common and preferred stocks, and real estate securities. The complaint took place while Neston was registered with NEXT Financial Group, Inc. and Ausdal Financial Partners, Inc.
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, Ausdal Financial Partners, Inc. may be liable for investment or other losses suffered by Neston’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.