Securities Lawyers Blog

When “Democratizing” Access to Alternatives Becomes a Risk for Main Street Investors Featuring commentary by securities arbitration attorney Adam Gana

February 18, 2026 | by Staff Attorney

For many American retirees, the dream of a secure retirement is built on decades of prudent saving, workplace retirement accounts, and a belief that financial advice from licensed professionals will protect their nest egg. But a recent article in The Guardian highlights a troubling trend that may undermine that belief by expanding access to complex, high-risk financial products to everyday investors—without commensurate investor protections.

Read the full Guardian article here.

The report, titled “I feel like I’m in a financial prison”: Trump Wall Street plan puts ‘mom and pop’ investors at risk, examines how recent regulatory shifts and executive actions are opening the door for “mom and pop” investors to be sold alternative investments traditionally reserved for sophisticated, institutional buyers.

When Private Placements Collapse: What the Inspired Healthcare Capital Bankruptcy Means for Investors – Featuring commentary by securities arbitration attorney Adam Gana

February 18, 2026 | by Staff Attorney

Private placements and alternative investments sold through networks of broker-dealers often appear “stable” on account statements, sometimes persist for years without valuation changes, and can outperform in normal markets. But when economic conditions shift, rising costs and cash-flow stress can expose weaknesses that leave investors with large losses and few real options.

That dynamic is on display in the recent Chapter 11 filing by Inspired Healthcare Capital, a senior housing and assisted living developer that raised funds through a network of independent broker-dealers. The bankruptcy leaves investor noteholders and private placement purchasers on the hook and may spark litigation as investors look for ways to recover losses.

InvestmentNews covered the story here.

There are Recent Customer Complaints with Broker Jeffrey Rettman in Firm Stifel, Nicolaus & Company, Incorporated

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Rettman (Rettman), currently associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Rettman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $30,106.00 on May 10, 2021.

The client alleges the financial advisor did not inform him the liquidation of a 529 account would result in tax consequences.

There are Recent Customer Complaints with Broker Jette Ziesemer in Firm Securian Financial Services, INC.

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jette Ziesemer (Ziesemer), previously associated with Securian Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ziesemer recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $7,043.82 on May 06, 2021.

Client alleged RR misrepresented policy at the time of sale in 11/2018. Client would like his coverage terminated and surrender charges waived.

Broker Kevin Kim in J.P. Morgan Securities LLC Firm Has Customer Complaint

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Kim (Kim), currently associated with J.P. Morgan Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kim recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $43,000.00 on May 07, 2021.

Client alleges poor recommendation/poor advice regarding the sale of managed account resulting in a tax liability. Activity Dates: 11/05/2020 through 11/05/2020.

There are Recent Customer Complaints with Broker Mark Haye in Firm Nylife Securities LLC

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Haye (Haye), previously associated with Nylife Securities LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Haye recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on May 06, 2021.

The policyowner alleges that when she transferred her $29,000 IRA in March of 2017 for the benefit of an account with an IPR rider (14 days prior to her 72nd birthday), the RR did not disclose that exercising the IPR would lock funds in until 15 years in the future to almost age 87. She also claims that the loss of money to transfer out of this policy was not disclosed and requests assistance to resolve this matter.

There are Recent Customer Complaints with Broker Mariana Ng Meyerson in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mariana Ng Meyerson (Meyerson), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Meyerson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on May 05, 2021.

The customer alleges unsuitable investment recommendations from May 2020 until May 2021

There are Recent Customer Complaints with Broker Jeremy Crews in Firm Pickwick Capital Partners, LLC

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeremy Crews (Crews), previously associated with Pickwick Capital Partners, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Crews recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $5,000.00 on May 07, 2021.

Customer completed an application to purchase a fixed annuity contract in May, 2020. A portion of the purchase proceeds were to come from another annuity contract owned by the customer in a 1035 exchange transaction. Customer alleges that representative’s delay in transmitting the instructions to the insurance company allowed the existing annuity contract to renew by it’s terms, permitting contractual surrender penalties when the surrender ultimately took place.

Broker Richard Williams in Madison Avenue Securities, LLC Firm Has Customer Complaint

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Williams (Williams), previously associated with Madison Avenue Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Williams recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $30,000.00 on May 10, 2021.

Claimants allege unsuitable recommendations of multiple alternative investments, failure to supervise and complete loss of an investment in a company run by the representative.

Broker Perry De Leeuw in PFS Investments INC. Firm Has Customer Complaint

February 18, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Perry De Leeuw (De Leeuw), previously associated with PFS Investments INC., has at least one disclosable event. These events include one customer complaint, alleging that De Leeuw recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $152,715.00 on May 06, 2021.

Customer alleges she gave mr. De leeuw money to invest in outside businesses which were not disclosed to the firm.