Don Traywick, formerly with Crown Capital Securities, Suspended Three Months
Have you lost money with financial advisor Don Traywick from Orange, California? We are investigating allegations made by FINRA (the Financial Industry Regulatory Authority) made against Don Traywick. FINRA alleged that Don Traywick made unsuitable recommendations to his customers to switch from Class “A” shares of one mutual fund to another. To settle these allegations, Traywick was suspended from the securities industry for three months, fined $5,000, and ordered to disgorge $10,000 in commissions.
“A” shares of mutual funds typically have upfront commissions of 3% to 5%, and Traywick was recommending that one of his clients exchange these shares on 61 occasions between April 2012 and July 2014, with an average holding period of 175 days. As such, these clients were paying 3% to 5% commissions on a short term basis, and FINRA alleged that this was excessive and unsuitable.
Don Traywick was a registered representative and financial advisor with Crown Capital Securities from 2000 to December 2016. He has also been affiliated with TCFG Wealth Management. He worked out of branch offices in Orange and Laguna Niguel, California. Traywick has been the subject of at least two customer complaints.
Broker-dealers like Crown Capital Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, such as to refrain from excessively trading a customer’s account or switching mutual funds. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Our firm represents investors throughout the country who are victims of financial advisors’ negligence and fraud. Our firm has offices in Denver and Seattle, but we continue to represent investors throughout the U.S., including California.
Click to view: Traywick, Don FINRA AWC
Click to view: Traywick, Don BrokerCheck 4.27.18
If you have lost money with Don Traywick and Crown Capital Securities, and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or CONTACT us at 720-599-3505.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.