William Frederick Fox (also known as Bill Fox and Billy Fox), of Austin, Texas, a stockbroker registered with LPL Financial LLC, was the subject of a customer initiated investment related “complaint” that was settled for $8,000.00 in damages on November 23, 2022, based upon alleged “poor performance in direct investments and real estate securities” recommended…
Daniel Edward Brunette (also known as Dan Brunette), of Indianapolis, Indiana, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related complaint that was settled on June 24, 2022, for $12,500.00 in damages based upon allegations that Brunette made unsuitable recommendations, failed to supervise certain representatives, committed fraud,…
Rene Adolfo Bolivar (also known as Rene Bolivar) of Salinas, California, a stockbroker registered with First Allied Securities Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Bolivar failed to testify and provide information and documents to FINRA when it investigated possible violations of FINRA rules….
Benjamin William Belanger (also known as Ben Belanger), of Glendale, Arizona, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $75,000.00 in damages based upon allegations that Belanger made unsuitable investment recommendations, failed to perform due diligence, breached his…
Jeffrey Brian Forehand (also known as Jeff Forehand) of Myrtle Beach, SC, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $14,600.00 in damages based upon allegations that Forehand made unsuitable recommendations, breached a contract, was negligent, and failed…
Kyle Robert Franklin of Roseville, California, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $15,000.00 in damages based upon allegations that Franklin made unsuitable recommendations, breached his fiduciary duties, breached a contract, was negligent, and failed to supervise…
Ronald Reed McCook (also known as Ron Reed McCook Jr.), of Scottsdale, Arizona, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $1,961,500.00 in compensatory damages because First Allied Securities Inc. was held liable for sales practice…
Edward Chong Yoon of Pasadena, California, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $36,250.00 in damages based upon allegations that Yoon made unsuitable recommendations, breached a contract, breached his fiduciary duties, and was negligent in connection with the…
Robert Steven Weissbein (also known as Bob Weissbein), of Plantation, Florida, a stockbroker registered with First Allied Securities Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $35,000.00 in damages based upon allegations that Weissbein made unsuitable recommendations, breached his fiduciary duties,…
Larry Glenn Boggs of Atlanta, Georgia, a stockbroker formerly registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $99,000.00 based upon allegations that Boggs made misrepresentations with regard to the recommendation and sale of variable annuities when Boggs was associated with…
Chad Ryan Barancyk of Chicago, Illinois, a stockbroker formerly registered with First Allied Securities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $260,000.00 in damages based upon allegations that Barancyk breached a contract, breached a fiduciary duty, acted negligently, and effected unsuitable transactions in…
Brian F. Donnelly of Iselin, New Jersey, a stockbroker formerly registered with First Allied Securities Inc., has been suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Donnelly engaged in private securities transactions when he was associated with First Allied Securities. Letter of…
Masood Husain Azad (also known as Mike Azad) of League City, Texas, a stockbroker formerly registered with First Allied Securities Inc., is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $500,000.00 in damages founded on accusations of breach of contract, misrepresentation, and negligent supervision of the customer’s…
William Michael Robertson of Deer Park, Texas, a stockbroker formerly registered with First Allied Securities Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $100,000.00 in damages based upon allegations of negligence and breach of contract in regard to real estate security transactions executed by Robertson during…
William Danny Chancellor (also known as Danny Chancellor), of Ridgeland, Mississippi, a stockbroker formerly registered with First Allied Securities Inc., is identified in a customer initiated investment related FINRA securities arbitration claim where the customer requested $132,000.00 in damages based upon allegations that he made the unsuitable recommendation of alternative investments when he was associated…
Michael Earl Reither, of Saint Louis, Missouri, a stockbroker formerly registered with First Allied Securities Inc., has been fined $10,000.00 and barred by the State of Missouri from being a stockbroker or an investment adviser representative according to an Order containing findings that Reither borrowed from a customer without authorization from First Allied Securities and…
Mark Alan Haenny of Loveland Colorado a stockbroker formerly registered with First Allied Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $55,000.00 in damages based upon accusations including negligence and unsuitable recommendations by Haenny as it pertained to LPs and DPPs during the period that…
Kimberly Ann Barentsen (also known as Kimberly Ann Berentsen, Kimberly Ann Bietema, and Kimberly Ann Bielema) of Walnut Creek California a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based on allegations…
Kevin Kimball Meadows of Liverpool New York a stockbroker formerly registered with First Allied Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he refused to cooperate with FINRA when it investigated allegations of a customer complaint against the stockbroker at First Allied…
Masood Husain Azad (also known as Mike Azad) of League City Texas a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon allegations of negligence and breach of contract relating to investments in Direct…
Kyle Robert Franklin of Cameron Park California a stockbroker formerly registered with First Allied Securities is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon accusations of negligence and breach of contract as it pertained to real estate investment trusts and variable annuities purchased…
Shlomo Strugano (also known as Shlomy Strugano and as Solomon Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $750,000.00 in damages supported by accusations of elder abuse and misappropriation. Financial Industry Regulatory Authority (FINRA)…
Ronald Reed McCook of Scottsdale Arizona a stockbroker currently registered with First Allied Securities Inc. and an investment adviser representative of Cetera investment Advisers LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by allegations that the customer had been placed in real estate…
Andrew Raymond Scheirer II (also known as Andy Haas) of Lake Mary Florida a stockbroker formerly registered with First Allied Securities Inc. and Kovack Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $49,000.00 in damages based upon allegations that a fiduciary duty that was owed to…
William Michael Robertson of Denver Colorado a stockbroker registered with First Allied Securities is the subject of a customer initiated investment related arbitration claim which was resolved for $8,000.00 in damages based upon accusations of (1) negligence (2) breach of a fiduciary duty (3) unsuitable real state security transactions and (4) First Allied Securities’ failure…
Sean Aaron Brady of Saint Louis Missouri a stockbroker registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages based upon accusations of the customer being defrauded on direct participation program interests or limited partnership interests sold by Brady between 2012…
Larry Glenn Boggs of Birmingham Alabama a stockbroker formerly employed by First Allied Securities Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages founded on accusations of (1) the violation of Alabama Deceptive Trade Practices Act (2) breach of a contract pertaining…
Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly associated with First Allied Securities Inc. is the subject of a customer initiated investment related complaint on January 21, 2020 in which the customer requested $30,636.16 in damages based upon allegations of the stockbroker misrepresenting an annuity sold to the First Allied Securities customer. Westenbarger…
Douglas Keith Hyer (also known as Doug Hyer) of Great Neck New York a stockbroker currently associated with First Allied Securities Inc. and NEXT Financial Group Inc. has been referenced in a customer initiated investment related arbitration claim which has been settled for $15,000.00 in damages supported by allegations that (1) purchases of real estate…
Shlomo Strugano (also known as Shlomy Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he declined to testify in a FINRA investigation concerning allegations of forgery. Letter of…
Robert Steven Weissbein (also known as Bob Weissbein) of Davie Florida a stockbroker currently registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages founded on allegations that (1) the customer’s account was administered negligently during the period in which Weissbein…
Gregory Alan Levine (also known as Greg Alan Levine) of Fort Lauderdale Florida a stockbroker formerly employed by First Allied Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Levine neglected to respond to an inquiry that FINRA made regarding his activities possibly…
Michael Eugene Health of Ladera Ranch California a stockbroker formerly employed by First Allied Securities has been fined $12,500.00 and suspended for forty-five days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part upon Health consenting to findings that he used unwarranted investment performance summaries when consulting with…
William Danny Chancellor of Ridgeland Mississippi a stockbroker formerly employed by First Allied Securities, Inc. is referenced in a customer initiated investment related arbitration claim which settled for $20,000.00 in damages based upon allegations that (1) misrepresentations and omissions had been made to the customer concerning the risks and fees of direct participation program or…
Mark William Chamberlain of Chesterton Indiana a stockbroker currently employed by First Allied Securities Inc. is the subject of a customer initiated investment related complaint in which the customer requested $94,000.00 in damages founded on allegations that the customer was not provided information about the tax liability pertaining to the activation of a rider that…
Ronald Reed McCook of Scottsdale Arizona a stockbroker currently employed by First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $1,000,000.00 in damages based upon accusations including (1) fraud (2) failure to supervise (3) omissions and misrepresentation (4) breach of fiduciary duty (5) breach of…
Sean Aaron Brady of Saint Louis Missouri a stockbroker formerly employed by First Allied Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide documents and information to FINRA in an investigation into allegations of his sales practice…
Kevin James Palmer of Scottsdale Arizona a stockbroker formerly registered with First Allied Securities Inc. has been discharged by the firm on February 6, 2018 founded on accusations that Palmer violated the firm’s policies by placing trades in two customer accounts on a discretionary basis without first procuring written authorization from the customer and First…
William Michael Robertson of Deer Park Texas a stockbroker formerly registered with First Allied Securities Inc. and advisor with First Allied Advisory Services has been referenced in a customer initiated investment related written complaint on January 5, 2018 where the customer sought $22,000,000.00 in damages founded on allegations that (1) investment recommendations had been made…
Sean Aaron Brady of Saint Louis Missouri is a stockbroker formerly registered with First Allied Securities Inc. who has been fired on October 20 2017 supported by allegations that Brady violated the firm’s policies relating to the falsification of signatures on customer account documentation and improper use of consolidated account statements. Financial Industry Regulatory Authority…
Charles Terrence Lundell of Bellevue, Washington, a stockbroker formerly registered with First Allied Securities, Inc., has been fined $5,000.00 and suspended for a month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected unauthorized trades in customers’ investment accounts. Letter of Acceptance, Waiver and…
Gregory Alan Levine, of Fort Lauderdale, Florida, a stockbroker registered with First Allied Securities, Inc., was fired on June 21, 2017, based upon accusations that he sold away from the firm, and failed to notify First Allied that he was subject of a customer initiated investment related complaint in which he was accused of effecting…
Masood Husain Azad, of League City, Texas, a stockbroker formerly registered with First Allied Securities, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of Azad selling away from the firm and engaging in unapproved…
John Kaleihiehie Kai, of Hilo, Hawaii, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not provide FINRA staff with information about Kai’s business activities. Case No. 2017053680001 (September 12, 2017). Kai was previously suspended on July 3, 2017, but did not…
Kelly Gene Richards, of Phoenix, Arizona, a stockbroker formerly registered with Capital Investment Group, Inc., has been named in a customer initiated investment related arbitration claim on June 27, 2016, in which customers collectively requested $650,000.00 in damages based upon allegations that Richards breached his fiduciary duties to the customers, negligently managed the customers’ investment…
Andrew Raymond Scheirer II, of Lake Mary, Florida, a stockbroker formerly registered with First Allied Securities, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $30,000.00 in damages based upon allegations that Scheirer defrauded the customer, breached his contractual duties, and effected private equity transactions in…
Larry Westly Farmbry, of Philadelphia, Pennsylvania, a stockbroker formerly registered with First Allied Securities, Inc., 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 trades in customer accounts on a discretionary basis in violation of his firm’s…
First Allied Securities, Inc., a broker-dealer headquartered in San Diego, California, was censured and fined $950,000.00 by Financial Industry Regulatory Authority (FINRA) after the firm consented to findings of misconduct that included, inter alia, the firm’s failure to appropriately supervise the sales of structured products. Letter of Acceptance, Waiver and Consent, No. 2015045234401 (Nov. 2,…
The Cetera Firms, which include Cetera Advisor Networks LLC, (headquartered in El Segundo, California), Cetera Financial Specialists LLC (headquartered in Schaumburg, Illinois), First Allied Securities, Inc. (headquartered in San Diego, California), Summit Brokerage Services, Inc. (headquartered in Boca Raton, Florida), and VSR Financial Services, Inc. (headquartered in Overland Park, Kansas), were censured and fined by…
Ameritas Investment Corp., Cetera Advisors LLC, Comerica Securities, Inc., Fifth Third Securities, Inc., First Allied Securities, Inc., Park Avenue Securities, LLC, Securities America, Inc., Huntington Investment Company, Cetera Advisor Networks LLC, Commonwealth Financial Network, MetLife, and Infinex Investment, Inc., were all recently censured and fined by Financial Industry Regulatory Authority (FINRA) for failing to apply…
Thomas R. Fortino, a former broker with First Allied Securities Inc., was fined and suspended by the Financial Industry Regulatory Authority (FINRA) after he engaged in business outside his firm, often called selling away, and misled his firm about these activities. Fortino submitted a Letter of Acceptance, Waiver and Consent (AWC) that resolved the FINRA…