Andrew James Pravlik of Pittsburgh Pennsylvania a stockbroker formerly employed by Prospera Financial Services Inc. is the subject of a customer initiated investment related civil action brought in the Court of Common Pleas of Allegheny County Pennsylvania where the customer sought $175,000.00 in damages supported by allegations that while Pravlik was registered with Prospera Financial Services, unit investment trust and real estate security transactions had been executed in the customer’s account that were unsuitable for the customer given the customer’s financial profile and goals for investing. Civil Action No. 1795375 (Dec. 19, 2017).
Pravlik is also the subject of a customer initiated investment related written complaint in which the customer requested unspecified damages founded on accusations that while Pravlik was registered with Prospera Financial Services, the customer was not provided a sufficient explanation of the terms and fees that pertained to unit investment trust and variable annuity products sold to the customer; and those investments failed to be suitable for the customer.
FINRA Public Disclosure additionally reveals that Pravlik has twice been terminated from a securities broker dealer based upon allegations of his misconduct on the job. Specifically, Pravlik was discharged by Hefren-Tillotson Inc. on September 3, 2009 supported by accusations that he potentially entered unauthorized investment orders, failing to comply with industry standards. Pravlik was then discharged by Prospera Financial Services on January 27, 2017 founded on allegations of his violation of the firm’s correspondence policy.
Moreover, Pravlik has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected improper mutual fund redemptions from customer accounts; conduct violative of NASD (National Association of Securities Dealers) Rule 3310 and FINRA Rule 2010.
Persson has been employed by Coastal Equities Inc. since February 23, 2017.
