Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Kelly (Kelly), currently associated with UBS Financial Services INC., has at least 4 disclosable events. These events include 4 customer complaints, alleging that Kelly 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 $6,000,000.00  on April 24, 2020.

Time frame:   Unspecified \<char_lb_r>\, Claimant’s counsel alleges unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jack Cayce (Cayce), currently associated with Purshe Kaplan Sterling Investments, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Cayce 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 $100,000.00  on April 21, 2020.

Client claims that investment was unsuitable and Firm did not conduct its proper due diligence prior to selling GPB to its clients.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephen Ferencik (Ferencik), currently associated with Arkadios Capital, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Ferencik recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 23, 2020.

Unsuitable product during 2018-2019

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Marcus Johnson (Johnson), currently associated with Edward Jones, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Johnson 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 $400,000.00  on April 23, 2020.

The Claimant, a living trust, alleges that the trustor was not an authorized party on the trust account the trustor opened, and therefore, the trustor was not authorized to give the financial advisor instruction to withdraw $400,000.00 from the account in early 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Arturo Colon (Colon), currently associated with Kovack Securities INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Colon 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 $35,000.00  on April 22, 2020.

Client alleges over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise, breach of duty of good faith and fair dealing (Puerto Rico bonds). Includes request for rescission, punitive damages, interest, costs and fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Dvorak (Dvorak), currently associated with Principal Securities, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Dvorak 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 $85,166.66  on April 23, 2020.

Client alleges she took an unsuitable early distribution from her IRA account in August 2016 at the advice of her registered representative.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Shirley Washam (Washam), currently associated with Ameriprise Financial Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Washam 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 $71,375.65  on April 20, 2020.

Client alleges unauthorized sale of an annuity. Allegation Activity Dates: 3/21/2019 – 4/20/2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Smith (Smith), currently associated with Valic Financial Advisors, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Smith recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $20,677.12  on April 20, 2020.

Client alleges she met with advisor on February 19th and requested he change her account allocations. Client further alleges this requested change was not made until February 25th causing her to incur losses.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Booth (Booth), previously associated with LPL Financial LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Booth recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 20, 2020.

Clients allege misappropriated funds.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Arensdorf (Arensdorf), currently associated with Wells Fargo Advisors Financial Network, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Arensdorf recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 21, 2020.

Client complained that the financial advisor did not sell as instructed. (4/16/2020-4/21/2020)

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