June 2017-Somonauk, IL
According to publicly available records Michael A. Jump (CRD#1146669) , a stockbroker currently registered with Chelsea Financial Services discloses 2 regulatory events, four customer disputes and a termination.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 2015 FINRA fined Jump about $6,000 and suspended him for two months to resolve allegations that he negligently misrepresented information pertaining to the fees associated with replaced variable annuities.
In 9/2016 a customer of Investment Planners settled a claim that they were sold an unsuitable indexed based annuity.
In January of 2016, Jump was discharged from Investment Planners, Inc. , who made the following allegation in connection therewith: “Rep used discretion in client’s account without permission in performing unauthorized mutual fund trades.”
Michael Jump has been employed by Chelsea Financial Services since 8/2016. His prior employment history includes Mutual Trust Company of America Securities and Investment Planners.
If you have losses in an account handled by Michael Jump , contact us to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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