Tag Archives: NEXT Financial Group Inc.

NEXT Stockbroker Barred By FINRA In Selling Away Investigation

January 03, 2021  |   Posted by :   |   Investment and Regulatory News, Selling Away and Outside Activities   |   Comments Off on NEXT Stockbroker Barred By FINRA In Selling Away Investigation

Brian Radoo of North Woodmere New York a stockbroker formerly registered with Next Financial Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Radoo failed to comply with FINRA when he was under investigation for possibly engaging in outside business activities. Letter of […]

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Berthel Fisher Sued By Investors For Fraud

June 03, 2020  |   Posted by :   |   Alternative Investments, Direct Participation Programs, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Berthel Fisher Sued By Investors For Fraud

Jerry Dewayne McCutchen Sr. of Mobile Alabama a stockbroker formerly associated with Berthel Fisher Company Financial Services and NEXT Financial Group has been referenced in a customer initiated investment related arbitration claim in which the customer requested $168,000.00 in damages based upon allegations that misrepresentations and omissions had been made to the customer concerning equipment […]

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FINRA Bars NEXT Financial Stockbroker In Investigation

May 12, 2020  |   Posted by :   |   Securities Arbitration Claims, Unsuitable Investment Recommendations   |   Comments Off on FINRA Bars NEXT Financial Stockbroker In Investigation

Charles Lawrence Doraine of Corpus Christi Texas a stockbroker formerly registered with NEXT Financial Group Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Doraine neglected to cooperate with the regulator during the course of an investigation into his allegedly unsuitable investment advice. […]

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Next Financial Stockbroker Sanctioned By FINRA

March 12, 2020  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Steven S. Maher Sr.of Oradell New Jersey a stockbroker formerly registered with Next Financial Group has been fined $10,000.00 and suspended for two months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings of Maher causing customers to provide him with signed but otherwise incomplete disclosure forms relating […]

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Investors File FINRA Arbtration Claims Against First Allied Over Alternative Investments

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 […]

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Next Financial Sued By Investors For Bad Mutual Fund Trades

Charles Lawrence Doraine of Corpus Christi Texas a stockbroker formerly registered with Next Financial Group Inc. is referenced in a customer initiated investment related arbitration claim in which the customer sought $500,000.00 in damages founded on accusations that between 2012 to 2018: (1) the customer’s diminished capacity had been exploited by the stockbroker (2) mutual […]

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Next Financial Group Accused Of Unauthorized Trading

November 15, 2019  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   0 Comments

Harold Mandell (also known as Hal Mandell) of San Antonio Texas a stockbroker formerly registered with Next Financial Group Inc. is the subject of a customer initiated investment related written complaint which was settled for $17,500.00 on June 20, 2019 based upon allegations that (1) Mandell executed speculative and aggressive trades in the customer’s account […]

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Investors Accuse Next Financial Of Providing Bad Investment Advice

Stephen Joe Williams of Madison Alabama a stockbroker currently registered with Next Financial Group is the subject of a customer initiated investment related written complaint which was resolved for $24,000.00 on November 2, 2018 supported by accusations that the customer was sold illiquid and inappropriate real estate securities that have since become worthless. Financial Industry […]

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Investors Accuse NEXT Financial Of Unsuitable REIT Recommendations

Charles Chester Kulch of Nashua New Hampshire a stockbroker currently employed by Next Financial Group Inc. is the subject of a customer initiated investment related written complaint on August 11, 2017 in which the customer requested $150,000.00 in damages based upon allegations that the customer was inappropriately advised by Kulch in regard to real estate […]

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Next Financial Stockbroker Caught Unauthorized Trading

May 03, 2019  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   0 Comments

Steven Elliott Zerbarini of Safety Harbor Florida a stockbroker formerly employed by Next Financial Group Inc. has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based uponconsenting to findings that Zerbarini executed transactions in Next Financial Group Inc. customers’ accounts without the customers having provided […]

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Customer Sues Next Financial For Mutual Fund Fraud

July 31, 2018  |   Posted by :   |   Investment and Regulatory News, Mutual Fund Fraud   |   0 Comments

Charles Lawrence Doraine of Corpus Christi, Texas, a stockbroker currently registered with Next Financial Group, Inc., is referenced in a customer initiated investment related arbitration claim where the customer sought $2,500,000.00 in damages founded on allegations that between 2012 and 2017, Doraine engaged in a pattern of in-and-out trading with respect to the customer’s mutual […]

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FINRA Arbitration Lawyers Sue Next Financial For REIT Fraud

June 12, 2018  |   Posted by :   |   Investment and Regulatory News, Non-traded REITs   |   0 Comments

Mark Lee Tevebaugh of Indian Harbour Beach Florida a stockbroker currently employed by Next Financial Group Inc. is the subject of a customer initiated investment related written complaint on February 6, 2018 where the customer sought $110,000.00 in damages based upon accusations that Tevebaugh effected a real estate investment trust transaction in the customer’s account […]

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Next Financial Discharges Stockbroker Bad Recommendations

Arshad Hussain of Jasper Alabama a stockbroker formerly employed by Next Financial Group Inc. has been discharged by the firm on March 14, 2018 based upon allegations that Hussain (1) effected short-term trades of investments that were designed for long-term investors and (2) misstated account applications and disclosure forms in order to conceal the customers’ […]

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Next Financial Sued By Customer For Omissions

Gautam B. Bose of Bethesda Maryland is a stockbroker formerly registered with Next Financial Group Inc. who is the subject of a customer initiated investment related arbitraton claim that settled for $44,000.00 in damages supported by allegations that Bose omitted information concerning the risks and features of a variable annuity and real estate investment trust […]

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NEXT Financial Group Sued For Misrepresentation

November 21, 2017  |   Posted by :   |   Variable Annuites   |   0 Comments

Dion Rey Padilla of San Antonio, Texas, a stockbroker formerly registered with Next Financial Group, Inc., is the subject of a customer initiated investment related arbitration claim on July 18, 2017, in which the customer sought $900,000.00 in damages based upon allegations that a variable annuity was sold to the customer, in which the terms […]

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Next Financial Stockbroker Fined For Excessive Trading

November 01, 2017  |   Posted by :   |   Churning, Investment and Regulatory News   |   0 Comments

Joseph Leigh Cotter, of Charlotte, North Carolina, a stockbroker with Next Financial Group, Inc., has been fined $15,000.00, disgorged of $100,549.42 in commissions, and suspended for nine months from having any association with a FINRA member by consenting to findings that he effected transactions in an investor’s accounts on an unsuitable and excessive basis. Letter […]

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NEXT Financial Group Stockbroker Suspended For Misrepresentation

February 27, 2017  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Dion R. Padilla, of San Antonio, Texas, a stockbroker with Next Financial Group, Inc., was fined $10,000.00 and suspended for fifteen months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon an Office of Hearing Officers’ Order Accepting Offer of Settlement containing findings that Padilla made an unauthorized variable […]

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Next Financial Group Named In Customer Securities Fraud Arbitration

Eduardo Guillermo Diaz, of Biloxi, Mississippi, a former stockbroker formerly  registered with Next Financial Group, Inc., has been subject to a customer initiated investment related arbitration action in which the customer received $250,000.00 in damages based upon allegations that Diaz made misrepresentations to the customer concerning investments, failed to provide the customer with information concerning […]

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Customer Clams Mount Against Next Financial Group

Charles C. Kulch, of Nashua, New Hampshire, a stockbroker with Next Financial Group, recently disclosed that he settled a customer dispute for $120,000.00 on June 22, 2016, based upon allegations that Kulch mismanaged the customer’s securities account. FINRA BrokerCheck reveals that Kulch has been subject to seven other customer disputes. Particularly, on April 21, 2015, […]

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Next Financial Group Stockbroker Barred In Conversion Investifgation

Tye C. Williams, of Frisco, Texas, a stockbroker with Next Financial Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm any capacity after he consented to findings that he obstructed an investigation into allegations that Williams converted funds from customers, effected transactions in customer accounts which were unauthorized, […]

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The Next Lawsuit Filed Against Next Financial Group For Mismanagement

September 27, 2016  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News   |   0 Comments

Joseph L. Cotter, of Wall, New Jersey, a stockbroker formerly with Next Financial Group, Inc., is subject to a pending customer dispute from June 22, 2016, in which a customer has requested $625,000.00 in damages in connection with allegations against Cotter of mismanaging the customer’s brokerage assets. Public Disclosure records also reveal that on March […]

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Altoona Pennsylvania Stockbroker Alleged to Have Sold Fake Investments

The Guiliano Law Group, P.C.  has filed a securities arbitration claim before the Financial Industry Regulatory Authority or FINRA, against Next Financial Group, Inc., in connection with the sale of unregistered securities, by its former registered representative, Douglas P. Simanski in violation of the federal securities laws and the Pennsylvania Securities Act of 1972,  and […]

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NEXT Financial Group Stockbroker Charged With Securities Fraud

Dion R. Padilla, of San Antonio, Texas, a stockbroker with Next Financial Group, Inc., was charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement in a Complaint alleging that that Padilla engaged in willful securities fraud and effected an unauthorized annuity purchase. Department of Enforcement v. Padilla, No. 2014040362001 (June 9, 2016). According to […]

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Next Financial Group Assistant Barred In Misappropriation

Gwendolyn M. Berry, an employee with Next Financial Group, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she failed to cooperate with a FINRA investigation into allegations that she misappropriated customer assets. Letter of Acceptance, Waiver and Consent, No. 2015047059701 […]

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Brokerage Firms Fined for Stealing Customer Discounts

Key Investment Services, LLC, Next Financial Group, Inc., Stephens Inc., Bankers & Investors Co., and J.J.B. Hilliard, W.L. Lyons LLC were all recently censured and fined by Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to certain customers’ eligible purchases of unit investment trusts (“UITs”) in violation of FINRA Rule 2010; […]

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Next Financial Group Broker Suspended for Unsuitable Recommendations

Betsy Marcom of Georgetown, Texas, a Stockbroker with Next Financial Group, Inc. was fined $15,000 and suspended for four months from association with any Financial Industry Regulatory Authority (FINRA) member firm after consenting to findings that she made unsuitable investment recommendations to her client, HTCC, a non-profit parish church. Letter of Acceptance, Waiver and Consent, […]

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Stockbroker Faces Discipline for Unsuitable Trading and Switching in Vulnerable Customers’ Accounts

February 22, 2012  |   Posted by :   |   Investment and Regulatory News, Retirement Planning Fraud   |   0 Comments

Clyde M. Thornburg, a former stockbroker with NEXT Financial Group Inc., was charged earlier this month with unsuitable short-term trading and switching in the accounts of elderly and unsophisticated investors. The FINRA Complaint On Feb. 9, the Financial Industry Regulatory Authority (FINRA) filed a complaint against Thornburg, a Florida-based registered representative with NEXT. The affected […]

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