Goodman & Nekvasil P.A., May Recover Investor Losses – Carlos Benavidez Jr. (Carlos Benavidez) Suspended from Securities Industry and Fired by Waddell & Reed, Inc.
From 2006 to 2015, Carlos Benavidez was licensed with Waddell & Reed, Inc. Carlos Benavidez was subsequently licensed with International Assets Advisory, LLC. According to FINRA’s records, Carlos Benavidez was fired by Waddell & Reed, Inc. on January 27, 2015. Waddell & Reed, Inc. reported to FINRA that Carlos Benavidez’ firing related to allegations that Carlos Benavidez used discretion in multiple client accounts without written authorization in violation of Waddell & Reed, Inc.’s policies and falsification of client notes.
Subsequent to Carlos Benavidez’ firing by Waddell & Reed, Inc. FINRA investigated Carlos Benavidez and brought a disciplinary action against Carlos Benavidez. Carlos Benavidez consented to a 2 month suspension from the securities and investment banking industry and a $10,000 fine. Carlos Benavidez also consented to findings that Carlos Benavidez exercised discretion in effecting hundreds of securities transactions in customers’ accounts without obtaining prior written authorization from the customers or prior written approval from Waddell & Reed, Inc. The findings stated that Carlos Benavidez participated in the backdating of customers’ notes that had been created in the firm’s SmartOffice program in order to falsely reflect that Carlos Benavidez or another representative had conversations with the customers on a previous date, before the trades were effected. The findings also stated that Carlos Benavidez therefore caused the firm to have inaccurate records.
If you lost any money on investments with Carlos Benavidez you may be able to recover your losses from Waddell & Reed, Inc. and/or International Assets Advisory, LLC. This is because Waddell & Reed, Inc. and International Assets Advisory, LLC had a duty to supervise Carlos Benavidez.
If you lost money on investments with Carlos Benavidez and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Waddell & Reed, Inc. and/or International Assets Advisory, LLC concerning Carlos Benavidez’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq, formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Carlos Benavidez and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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