older woman

Andrew James Pravlik of Pittsburgh Pennsylvania a stockbroker formerly registered with Prospera Financial Services is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $27,000.00 in damages supported by allegations that five unsuitable alternative investments had been recommended by Pravlik during the time that he was associated with Prospera. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01800 (Jan. 4, 2021). According to the claim, Prospera failed to supervise Pravlik. The claim also alleges misrepresentation and breach of fiduciary duty.

Pravlik has been identified in two additional customer initiated investment related disputes regarding accusations of his misconduct during the time that he was employed by Prospera. Andrew James Pravlik confirms that a customer filed an investment related complaint regarding Pravlik’s conduct where they sought compensatory damages based upon allegations of the stockbroker omitting the liquidity and fees of a unit investment trust and variable annuity.

On December 19, 2017, another customer filed an investment related civil action involving Pravlik’s conduct in which they sought $175,000.00 in damages founded on accusations that they were sold unsuitable unit investment trusts and real estate securities because of Pravlik. Civil Action No. 1795375.

FINRA Public Disclosure additionally reveals that Pravlik has been fined $5,000.00 and suspended for three months from associating with any FINRA member in any capacity based on findings that he falsified information on a customer’s mutual fund redemption requests. Pravlik violated FINRA Rule 2010 and National Association of Securities Dealers (NASD) Rule 3110.

Pravlik was discharged by Prospera on January 27, 2017 based upon allegations that he violated its communications policy. Since February 23, 2017, he has been registered with Coastal Equities Inc. as a stockbroker, and since October 13, 2017, he has been registered with Coastal Investment Advisors as an investment adviser representative.