The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Minnesota-based Woodbury broker/adviser Eugene Muenchau (CRD# 1346532).
Eugene Muenchau has spent thirty years in the securities industry and has been registered with Woodbury Financial Services in Oakdale, Minnesota since 2006. Previous registrations include Sammons Securities Company in Edina, Minnesota (2003-2006); Woodbury Financial in Oakdale (1986-2003); and U.S. Capital Services (1985-1986). Mr. Muenchau is a registered broker and adviser in fourteen US states and territories.
According to his BrokerCheck report, Eugene Muenchau is the subject of two customer complaints.
In 2013 a customer alleged Eugene Muenchau, while employed at Woodbury Financial Services, failed to adequately explain the risk involved in two investments that turned out to be unsuitable. The complaint settled in 2015 for $50,000.
In 2013 a customer alleged Eugene Muenchau, while employed at Woodbury Financial Services, misrepresented the benefits and features of an unsuitable investment in equipment leasing. The complaint settled in 2014 for $58,000.
FINRA rules and federal securities law require brokers and financial advisers like Eugene Muenchau to recommend only investments that are suitable for their clients. They must consider such factors as age, investment goals, investment needs, income, and risk tolerance. Brokers may not misrepresent or omit material facts connected to the product in a manner that encourage cause clients to invest unsuitably. Brokerage firms like Woodland Financial have a supervisory duty to ensure that their brokers adhere with these rules. Brokers and firms who recommend unsuitable transactions may be subject to disciplinary action.
If you have complaints regarding Eugene Muenchau. or Woodbury Financial Services, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be qualified to recover your losses. All cases are taken on contingency: 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.