Dean Robert Nowak of Winter Park Florida a stockbroker formerly registered with TCM Securities Inc. is the subject of a customer initiated investment related complaint on April 22, 2019 where the customer sought $66,666.67 in damages based upon accusations of misrepresentations and omissions of investment information being made by the stockbroker when advising the customer to purchase NorthStar Healthcare Income Real Estate Investment Trust.
Financial Industry Regulatory Authority (FINRA) Public Disclosure indicates that Nowak is the subject of four more customer initiated investment related disputes pertaining to allegations of his bad business practices during the period in which the stockbroker was employed by securities broker dealers including Signator Investors Inc, Taylor Capital Management, Summit Brokerage Services Inc. and TCM Securities.
A customer initiated investment related arbitration claim pertaining to Nowak’s conduct was settled for $10,000.00 in damages. According to the FINRA Arbitration, transactions were effected in violation of Florida securities laws when Nowak was employed by Signator Investors Inc. The claim also alleges that a fiduciary duty owed to the customer had been violated and that the customer was defrauded through purchasing annuity and insurance products.
Another customer filed an investment related complaint concerning Nowak’s activities where the customer sought $45,000.00 in damages founded on accusations that when Nowak was employed by Summit Brokerage Services, false or misleading statements had been made in regard to variable annuity investments and that the customer was defrauded. Nowak is also referenced in a customer initiated investment related complaint which had been resolved on March 18, 2019 for $17,602.33 in damages founded on accusations of false statements and omissions with regard to the customer’s exchange of a variable annuity issued by Nationwide with an indexed annuity issued by Security Benefit.
FINRA Public Disclosure also reveals that prior securities broker dealer employer Summit Brokerage Services discharged Nowak based upon allegations of Nowak making unsuitable investment recommendations. On August 12, 2019, his employment with TCM Securities was terminated and on August 22, 2019, the stockbroker became registered with Newbridge Securities Corporation.
