Former Securities America, Inc. and Brecek and Young Broker Matthew Baltz Variable Annuity Losses

Posted on Monday, March 9th, 2020 at 9:28 pm    

Matthew Baltz

Erez Law is currently investigating former Securities America, Inc. and Brecek and Young broker Matthew Baltz (CRD# 2635133) regarding variable annuity losses. Baltz has been registered with Cambridge Investment Research, Inc. in Auburn, California from 2014 to 2017. Previously, Baltz was registered with Investors Capital Corp. in Auburn, California from 2011 to 2014 and with Securities America, Inc. in Auburn, California from 2009 to 2011.

Baltz has been the subject of three customer complaints between 2016 and 2018, one of which was denied, according to his CRD report:

December 2018. “The client alleges the representative misrepresented his Variable Annuity benefits.” The customer is seeking $124,972.24 in damages and the case is currently pending. The complaint was regarding variable annuities and took place while Baltz was registered with Brecek and Young.

April 2018. “The client alleges misrepresentation of the Guaranteed Minimum Withdrawal Benefit on a Variable Annuity Contract.” The customer sought $109,368 in damages and the case was settled for $100,638.87. The complaint was regarding variable annuities and took place while Baltz was registered with Securities America, 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, Cambridge Investment Research, Inc., Securities America, Inc., and Brecek and Young may be liable for investment or other losses suffered by Baltz’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.