Articles Posted in Reg BI

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

FINRA BrokerCheck shows a pending customer complaint on January 18, 2023.

Customer alleges representative, his half-brother, transferred funds out of customer’s UTMA account on several occasions during the time period 2015-2021 and deposited the funds into a checking account belonging to another family member.

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

FINRA BrokerCheck shows a settled customer complaint on January 13, 2023.

Claimants allege FA recommended they invest heavily in unsuitable and purportedly high-risk oil and gas investments. Allegation Activity Dates: 2010 – 2018.

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

FINRA BrokerCheck shows a settled customer complaint on January 12, 2023.

Client alleges RR recommended an unsuitable managed account in 2022.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Davenport (Davenport), previously associated with Silver Oak Securities, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Davenport 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 $24,000.00 on January 20, 2023.

In November 2022, the clients, a married couple, made an oral complaint to the firm concerning the representative and their accounts. Subsequently, in December 2022, one client complained in writing, alleging, with respect to discretionary advisory accounts, that unspecified investments were not suitable for the clients, that stop-loss orders were not used to protect the account from declining in value as the overall market declined, and that the portfolio was over-diversified, among other things.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Theodore Ecker (Ecker), previously associated with Ausdal Financial Partners, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ecker 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 $698,000.00 on January 20, 2023.

Unsuitable recommendations of alternative investments.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frank Guarascio (Guarascio), previously associated with Madison Avenue Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Guarascio 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 $698,000.00 on January 20, 2023.

Unsuitable recommendations of alternative investments.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Elliott (Elliott), currently associated with Raymond James Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Elliott 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 $100,000.00 on January 17, 2023.

Claimants allege that FA provided “incorrectly calculated tax basis figures” for assets that they inherited. Allegation Activity Dates: 5/21/2021 – 9/31/2021.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Cain (Cain), previously associated with Voya Financial Advisors, INC., has at least one disclosable event. These events include one customer complaint, alleging that Cain 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 $46,100.00 on January 19, 2023.

Claimant alleges that representative recommended investments that were largely concentrated in illiquid, speculative, low-quality, and high commission non-traded real estate investment trusts and/or Business Development Companies.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Anderson (Anderson), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Anderson 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 $423,191.01 on January 13, 2023.

Time Frame: August 2nd, 2021 to March 8th, 2022\, \, What were the allegations against the individual? The trustee alleges misrepresentation and unsuitability in regards to the death benefit to which the trust and beneficiaries are entitled. The trustee further alleges that decisions regarding the trust were made on the FA’s advice that the death benefit would not decrease if deferred, which proved incorrect.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Julie Jones (Jones), previously associated with Oppenheimer & CO. INC., has at least 3 disclosable events. These events include 3 customer complaints, alleging that Jones 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 $580,000.00 on January 18, 2023.

Claimants allege John Woods, James Woods, Michael Mooney, Iris Israel and Julie Jones conducted a Ponzi Scheme. From 2013-2021.

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