Breach of Fiduciary Duty

Archive | Breach of Fiduciary Duty

Money Concepts Stockbroker Accused Of Breach Of Fiduciary Duty

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Stockbroker Negligence   |   Comments Off on Money Concepts Stockbroker Accused Of Breach Of Fiduciary Duty

Dustin Paul Shafer of Springfield Illinois a stockbroker formerly registered with Money Concepts Capital Corp is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $150,000.00 in damages supported by accusations of unsuitable direct participation program interests and limited partnership interests for their account during the time that […]

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Investors File Securities Arbitration Claim Against LPL Financial For Breach Of Fiduciary Duty

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure to Conduct Due Diligence, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against LPL Financial For Breach Of Fiduciary Duty

Jeffrey Guy LaBelle (also known as Jeff LaBelle) of Sarasota Florida a stockbroker formerly registered with LPL Financial LLC and First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $350,000.00 in damages based upon allegations that LaBelle breached a contract and breached a […]

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Investors File FINRA Securities Arbitration Claim Against David Lerner For Misrepresentation

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Securities Arbitration Claim Against David Lerner For Misrepresentation

Daniel Todd Lerner of White Plains New York a stockbroker currently registered with David Lerner Associates Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $450,000.00 in damages founded upon accusations of misrepresentations and omissions regarding mutual fund transactions and a private placement offering during […]

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Investors File Arbitration Claim Against Geneos Wealth Management

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Direct Participation Programs, Investment and Regulatory News   |   Comments Off on Investors File Arbitration Claim Against Geneos Wealth Management

Richard Mark Braverman (also known as Rich Braverman) of Lancaster Pennsylvania a stockbroker and investment adviser representative of Geneos Wealth Management is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $1,000,000.00 in damages based on accusations that Braverman gave unsuitable advice concerning direct investments including direct participation programs […]

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Investors File FINRA Arbitration Claim Filed Against Presidential Brokerage For Fraud

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Churning, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File FINRA Arbitration Claim Filed Against Presidential Brokerage For Fraud

Michele George Savarese (also known as Michael Savarese and as Mike Savarese) of San Diego California a stockbroker and investment adviser representative of Presidential Brokerage Inc. (now known as Forta Financial Group) is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages founded upon accusations […]

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Investors Allege Fraud In FINRA Securities Arbitration Claim Against Summit Brokerage

October 19, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors Allege Fraud In FINRA Securities Arbitration Claim Against Summit Brokerage

Bruce Anthony Ciallella of Boca Raton Florida a stockbroker formerly registered with Summit Brokerage Services Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $100,000.00 in damages supported by accusations of fraud and the violation of Florida Securities and Investor Protection Act concerning the sale of […]

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First Allied Securities Stockbroker Accused Of Fraud

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Over Concentration, Stockbroker Negligence   |   Comments Off on First Allied Securities Stockbroker Accused Of Fraud

David Robert Kennon of Sarasota Florida a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related written complaint on July 22, 2021 where the customer sought more than $100,000.00 in damages based on accusations of Kennon’s negligence and breach of contract during the period in which he […]

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FINRA Investigates SW Financial Stockbroker For Churning

October 08, 2021  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, Churning, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on FINRA Investigates SW Financial Stockbroker For Churning

Arthur Mel Coffey (also known as Mel Coffey) of Miller Place New York a stockbroker currently registered with SW Financial is referenced in a FINRA investigation which may lead to Department of Enforcement bringing a disciplinary action against him for possibly churning customer accounts and making unsuitable trades in violation of FINRA rules. FINRA Case […]

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Investors Accuse NPB Financial Group Of Breach Of Fiduciary Duty

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Stockbroker Theft, Unauthorized Trading   |   Comments Off on Investors Accuse NPB Financial Group Of Breach Of Fiduciary Duty

Cynthia Diane Cowden (also known as Cynthia Case) a stockbroker formerly registered with NPB Financial Group LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $300,000.00 in damages based upon allegations of the violation of federal and state securities laws and the breach of a fiduciary […]

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Investors Accuse Worden Capital Stockbroker Of Securities Fraud

October 08, 2021  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, Investment and Regulatory News   |   Comments Off on Investors Accuse Worden Capital Stockbroker Of Securities Fraud

Joseph Francis Valdini of Melville New York a stockbroker formerly registered with Worden Capital Management is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,277,631.00 in damages founded on allegations of misrepresentation and churning of stocks and over-the-counter equities by Valdini when he was employed by Worden Capital […]

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Four Points Capital Partners Stockbroker Sanctioned By FINRA

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Churning, Excessive Trading, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Four Points Capital Partners Stockbroker Sanctioned By FINRA

Blake H. Kiernan of Melville New York a stockbroker registered with Four Points Capital Partners LLC has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded upon allegations that Kiernan did not comply with a FINRA Arbitration Award in which he was required to pay a customer $69,250.00 […]

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Investors File FINRA Securities Arbitration Against IFG Over Unsuitable Alternative Investments

October 08, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Direct Participation Programs, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Investors File FINRA Securities Arbitration Against IFG Over Unsuitable Alternative Investments

William Aubrey Morrow (also known as W. Aubrey Morrow) of San Diego California a stockbroker and investment adviser representative of Independent Financial Group (IFG) is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages founded upon allegations that they were placed into unsuitable direct investments […]

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Alliance Global Partners Peter Schiff Accused Of Breach Of Fiduciary Duty

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Alliance Global Partners Peter Schiff Accused Of Breach Of Fiduciary Duty

Peter David Schiff of Newport Beach California a stockbroker currently registered with AGP Alliance Global Partners is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $45,000.00 in damages founded upon accusations of breach of contract and breach of fiduciary duty as it pertained to private placements sold […]

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National Securities Stockbroker Accused Of Unsuitable Investment Advice

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on National Securities Stockbroker Accused Of Unsuitable Investment Advice

Rodrigue Lors (also known as Rodrique Lors) of Westbury New York a stockbroker formerly registered with National Securities Corporation is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $200,000.00 in damages founded upon allegations that Lors provided unsuitable recommendations as it pertained to private placements during the […]

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Investors Accuse Cadaret Grant Stockbroker Of Breach Of Fiduciary Duty

October 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors Accuse Cadaret Grant Stockbroker Of Breach Of Fiduciary Duty

Gerald Roger Dewes of East Amherst New York a stockbroker formerly registered with Cadaret Grant Co. Inc. is referenced in a customer initiated investment related written complaint on April 7, 2021, in which the customer requested more than $5,000.00 in damages based on allegations of a breach of fiduciary duty by Dewes as it pertained […]

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FINRA Bars Merrill Lynch Stockbroker In Investigation

September 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on FINRA Bars Merrill Lynch Stockbroker In Investigation

Scott Geoffrey Madison of Riverhead New York a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to cooperate with FINRA’s investigation into why Merrill Lynch terminated his registration as stockbroker. Letter […]

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Investors Accuse VFG Securities Of Breach Of Fiduciary Duty

September 16, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Investment and Regulatory News, Non-traded REITs, Over Concentration   |   Comments Off on Investors Accuse VFG Securities Of Breach Of Fiduciary Duty

Mark Andrew Trewitt of Plano Texas a stockbroker formerly registered with VFG Securities Inc. is the subject of a customer initiated investment related written complaint on October 15, 2020 where the customer requested $4,000,000.00 in damages based on accusations that unsuitable alternative investments were recommended by Trewitt while he was associated with VFG Securities as […]

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Investors Accuse Concorde Of Unsuitable Private Placements

September 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Private Placement Fraud   |   Comments Off on Investors Accuse Concorde Of Unsuitable Private Placements

Robert Scott Smith of Newberg Oregon a stockbroker formerly registered with Concorde Investment Services is the subject of a customer initiated investment related written complaint on May 10, 2021 in which the customer sought $678,500.00 in damages supported by accusations that they had been sold unsuitable private placements by Smith while he was registered with […]

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IFS Stockbroker Sanctioned For Outside Business Activities

September 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Investment and Regulatory News   |   Comments Off on IFS Stockbroker Sanctioned For Outside Business Activities

Robert Henderson Jr of Miami Lakes Florida a stockbroker formerly registered with IFS Securities has been fined $30,000.00 and suspended for 13 months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on a FINRA Hearing Panel Decision containing findings that Henderson engaged in unapproved outside business activities and had […]

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Ameriprise Financial Stockbroker Accused Of Breach Of Fiduciary Duty

September 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Elder Financial Abuse, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Ameriprise Financial Stockbroker Accused Of Breach Of Fiduciary Duty

Bryant Edwin Caveness of Kingsport Tennessee a stockbroker formerly registered with Ameriprise Financial Services LLC has been referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $230,000.00 in damages supported by accusations of unsuitable trades and breach of fiduciary duty by Caveness when he was associated with Ameriprise […]

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Cetera Stockbroker Accused By Investors Of Unsuitable REIT Sales

September 16, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Investment and Regulatory News, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on Cetera Stockbroker Accused By Investors Of Unsuitable REIT Sales

Jeffrey Gerard Meyers (also known as Jeff Meyers) of Overland Park Kansas a stockbroker currently registered with Cetera Advisor Networks LLC is the subject of a customer initiated investment related written complaint on June 9, 2021 where the customer sought compensatory damages supported by allegations of Meyers’ unsuitable real estate security transactions while he was […]

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Investors File FINRA Arbitration Claim Against Four Points For Sale Of Unsuitable Investments

September 03, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Stockbroker Negligence, Unsuitable Investment Recommendations   |   Comments Off on Investors File FINRA Arbitration Claim Against Four Points For Sale Of Unsuitable Investments

Allan Perry Montalbano of Garden City New York a stockbroker formerly registered with Four Points Capital Partners LLC and Worden Capital Management LLC is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $543,163.00 in damages founded on accusations that they had received unsuitable investment recommendations from Montalbano […]

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Investors File Arbitration Claim Against American Trust Investment Services

September 03, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Selling Away and Outside Activities, Unit Investment Trusts (UITs)   |   Comments Off on Investors File Arbitration Claim Against American Trust Investment Services

David Richard Geake of Northbrook Illinois a stockbroker currently registered with American Trust Investment Services is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages supported by accusations that Geake breached a fiduciary duty and placed the customer into securities that were not suitable for them […]

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Worden Capital Stockbroker Accused Of Breach Of Fiduciary Duty

September 01, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Excessive Trading, FINRA Securities Arbitration, Investment and Regulatory News   |   Comments Off on Worden Capital Stockbroker Accused Of Breach Of Fiduciary Duty

David Michael Murray of New York New York a stockbroker formerly registered with Worden Capital Management LLC is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $653,700.00 in damages based upon accusations that between August of 2017 and December of 2019, stock and over-the-counter equities transactions […]

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Investors File Arbitration Claim Against Cetera For Sale of Unsuitable Investments

August 26, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Over Concentration, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Cetera For Sale of Unsuitable Investments

George Craig Merhoff Jr of Klamath Falls Oregon a stockbroker formerly registered with Cetera Advisors LLC is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested between $500,000.00 and $1,000,000.00 in damages based upon accusations that the customer’s account had been overconcentrated by Merhoff in unsuitable investments including […]

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Investors File Arbitration Claim Against Raymond James For Sale of Unsuitable Investments

August 26, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Raymond James For Sale of Unsuitable Investments

Steven Paul Reznik of Tallahassee Florida a stockbroker formerly registered with Raymond James Financial Services is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $100,000.00 in damages based on allegations that the customer was sold unsuitable equities by Reznik while he was associated with Raymond James Financial Services. […]

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SagePoint Stockbroker Investigated For Unauthorized Trading

August 26, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Excessive Trading, FINRA Securities Arbitration, Forgery, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on SagePoint Stockbroker Investigated For Unauthorized Trading

David John Melilli of Moorestown New Jersey a stockbroker formerly registered with SagePoint Financial Inc. is the focus of a FINRA investigation on April 1, 2021 in which FINRA has determined that disciplinary action should be taken against Melilli for allegedly making excessive and unsuitable trades and for forging customer signatures. Case No. 20190636810 (Apr. […]

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Investors File Arbitration Claim Against Alexander Capital For Churning

August 15, 2021  |   Posted by :   |   Boilerroom Sales, Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Arbitration Claim Against Alexander Capital For Churning

Michael Alejandro Castillero of New York New York a stockbroker formerly registered with Alexander Capital LP is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $62,181.00 in damages founded on accusations that the customer’s account was churned and overconcentrated in stocks because of Castillero during the time that […]

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Capital Financial Services Accused Of Breach Of Fiduciary Duty

August 15, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs   |   Comments Off on Capital Financial Services Accused Of Breach Of Fiduciary Duty

Steven Roland Knuttila of Perham Minnesota a stockbroker formerly registered with Capital Financial Services Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought more than $5,000.00 in damages founded on allegations that a contract between the customer and Capital Financial Services had been breached and that […]

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Allegis Stockbroker Sanctioned For Misrepresentation

August 15, 2021  |   Posted by :   |   Breach of Fiduciary Duty, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Allegis Stockbroker Sanctioned For Misrepresentation

Brandon Curt Stimpson of Logan Utah a stockbroker formerly registered with Allegis Investment Services LLC has been fined $125,000.00 and barred by Utah Securities Division from being a stockbroker in the state based on allegations of Stimpson omitting and misrepresenting investment information about index options and for committing fraud when he was associated with Allegis […]

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