Raymond James denies mishandling retiree's account
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by Mike Caswell
Raymond James Ltd.'s Lori Pinkowski and Seth Allen deny that they did anything wrong in handling the portfolio of a disgruntled North Vancouver retiree. They say that the client understood his investments were going into a discretionary account and that he received confirmations for every trade. They also point out that his account was profitable.
The denials come in response to a lawsuit filed by Ian Clive Dungate, an 80-year-old retired food agent. In a notice of claim filed on Dec. 1, 2017, Mr. Dungate complained about the handling of an $870,400 portfolio that he moved to Ms. Pinkowski and Mr. Allen in 2015. He claimed to have come to Raymond James on the understanding that he would have a non-discretionary account that would retain five companies he did not want to sell. He said that Raymond James carried out several unauthorized transactions in which it sold those shares.
| RAYMOND JAMES |
| Lori Pinkowski |
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