According to records provided by the Financial Industry Regulatory Authority (FINRA), Florida-based International Assets Advisory broker Carlos Benavidez has signed a letter of Acceptance, Waiver and Consent (AWC Letter) settling allegations of misconduct. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Benavidez (CRD# 5013554).
Carlos Benavidez has spent nine years in the securities industry and has been registered with International Assets Advisory in Orlando, Florida since March 2015. He was previously registered with Waddell & Reed in Louisville, Kentucky (2006-2015). He is a registered broker in four US states: Florida, Indiana, Kentucky, and Massachusetts.
According to his BrokerCheck report, Carlos Benavidez is the subject of one pending customer complaint and was discharged from his position at Waddell & Reed.
In 2015 FINRA sanctioned Carlos Benavidez following allegations he exercised discretion in eighty customer accounts without first obtaining written authorization from the customers or written approval from his employer, Waddell & Reed. According to FINRA’s allegations, Mr. Benavidez also “participated in the backdating of 26 customer notes to falsely reflect that he or another representative had conversations with those customers on August 29, 2014.” Mr. Benavidez has signed an AWC letter agreeing to a $10,000 fine and a two-month suspension from associating with any FINRA member firm in any capacity.
In 2015 Carlos Benavidez was discharged from his position at Waddell & Reed following allegations he used discretion in multiple client accounts without obtaining prior written authorization.
In 2015 a group of customers alleged Carlos Benavidez, while employed at Waddell & Reed, purchased an unsuitable closed-end fund, over-concentrated the account, and caused them to pay taxes on the dividends for a product that lost value. The customers are seeking unspecified damages in the pending complaint.
If you have lost money investing with Carlos Benavidez, you may be able to recoup lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta accepts all cases on contingency: we only receive payment 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.