According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ian Prukner (Prukner), previously associated with PFS Investments INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Prukner recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint on October 16, 2025.
Plaintiffs allege they purchased e-commerce stores and digital real estate from champion e-com, which was operated by lan prukner, jake fruge, melton weaver and another individual. Plaintiffs allege, among other things, that the e-commerce stores and digital real estate were unregistered securities. Plaintiffs were not customers of pfs investments and the complaint indicates that they made their purchases after prukner, fruge and weaver were no longer associated with pfs investments.
FINRA BrokerCheck shows a final customer complaint on November 28, 2023.
Without admitting or denying the findings, Prukner consented to the sanctions and to the entry of findings that he engaged in an OBA as an owner and co-chief executive officer of a company that engaged in e-commerce and lead generation without providing prior written notice to his member firm. The findings stated that the OBA’s customers-including certain firm customers and registered representatives-each paid an up-front fee of at least $40,000 per e-commerce storefront and $4,000 per digital real estate website. The OBA’s customers then received a percentage of any income those storefronts and websites generated. Prukner orally discussed the e-commerce storefront component of the OBA with senior compliance personnel at the firm’s parent company. The firm then approved the e-commerce storefront component of Prukner’s OBA, by which time more than 33 customers had already paid substantial fees to the OBA. Approximately six months later, the digital real estate component of the OBA was reported to the firm. By this time, over 200 OBA customers had already purchased over 900 digital real estate websites, and Prukner had earned substantial income from his involvement with the OBA. Following its approval of the e-commerce storefront component of Prukner’s OBA, the firm learned that the OBA had been marketed to other firm registered representatives, potentially creating a conflict of interest with Prukner’s firm business. The firm warned Prukner to stop this conduct and requested further information about the company, including the names of any firm customers or registered representatives who had purchased e-commerce storefronts. Prukner did not provide the requested information. Failure to provide complete and prior written OBA disclosures to the firm undermined its ability to ‘evaluate’ the OBA and determine whether to restrict or prohibit Prukner’s participation in it. The firm later directed Prukner to stop engaging in any marketing activities for the e-commerce storefront component, which was the only component of the OBA Prukner had disclosed to the firm. Nonetheless, Prukner continued to market products of the company. The firm made Prukner choose between his OBA and working for it. Prukner chose to continue with his OBA and after winding down his firm business, he left the firm.
Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened.
The care obligation also requires the broker to address the client’s specific needs through obtaining specific investment profile information on the client. The associated person typically will ask the customer for information such as the investor’s risk tolerance or ability to withstand account value declines or increases; experience with investments available; investment objectives and goals; investment time horizon; liquidity needs; assets such as investment accounts held at other financial institutions; tax information; their age and retirement plans; and other information that a customer may want to provide to the advisor to help them to properly address the services needed. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest. There are different sub-parts of the Reg BI rule that financial professionals must comply with when providing advice. Among those is the duty of care obligation that mandates associated persons to evaluate investment options, review and be knowledgeable the risks and rewards of the investment or service, compare alternative investment products, and ensure that the overall investment strategy aligns with the client’s goals and is in their best interests.
The care obligation also requires the broker to address the client’s specific needs through obtaining specific investment profile information on the client. The associated person typically will ask the customer for information such as the investor’s risk tolerance or ability to withstand account value declines or increases; experience with investments available; investment objectives and goals; investment time horizon; liquidity needs; assets such as investment accounts held at other financial institutions; tax information; their age and retirement plans; and other information that a customer may want to provide to the advisor to help them to properly address the services needed. Finally, the advisor must use their knowledge of the first two elements to consider reasonably available investment option alternatives and come to the conclusion that there is a reasonable basis to believe that the recommendation or advice being provided is in the retail investor’s best interest. Finally, an advisor must also analyze the specific account features offered and determine whether their client can benefit from them in order to meet their care obligations. While securities and investments come with costs that must be considered, the type of securities account also has changes the cost equation for the investor and can change the retail customers’ future investment returns. The associated person must consider the different types of securities accounts for their client and determine whether or not the cost or features are reasonably needed for the client or if the customer’s current account costs and features are superior to solutions available to the advisor. In any event, the type of account and services recommended must be in the investor’s best interest.
Prukner has been in the securities industry for more than 15 years. Prukner has been registered as a Broker with PFS Investments INC. since 2007.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.