Customer Sues PlanMember For Misrepresentation

Raymond Adam Menna, of PlanMember Securities Corporation, is the subject of a customer initiated investment related arbitration claim, where the customer sought $1,000,000.00 in damages supported by accusations that Menna made misrepresentations and omissions to the customer, effected transactions in the customer’s account that were not suitable, and traded equities without the customer’s consent. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02977 (Nov. 8, 2017).

FINRA Public Disclosure also reveals that on February 1, 2008, a customer filed an investment related written complaint involving Menna’s conduct, in which the customer requested $56,754.00 in damages founded on allegations that while Menna was associated with Prime Capital Services, Inc., he failed to follow the customer’s instructions of investing in annuity sub accounts and mutual funds without risk to the customer’s principal.

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