Reg BI

There are Recent Customer Complaints with Broker Frank Guarascio in Firm Madison Avenue Securities, LLC

October 20, 2025 | by Staff Attorney

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.

Broker Robert Elliott in Raymond James Financial Services, INC. Firm Has Customer Complaint

October 20, 2025 | by Staff Attorney

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.

There are Recent Customer Complaints with Broker Michael Cain in Firm Voya Financial Advisors, INC.

October 20, 2025 | by Staff Attorney

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.

Broker Robert Anderson in UBS Financial Services INC. Firm Has Customer Complaint

October 20, 2025 | by Staff Attorney

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.

Broker Julie Jones in Oppenheimer & CO. INC. Firm Has Customer Complaint

October 20, 2025 | by Staff Attorney

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.

Broker Alyssa Thornton in Edward Jones Firm Has Customer Complaint

October 19, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on January 24, 2023.

The client alleges the financial advisor opened an incorrect account type for an IRA inherited from her husband and that the financial advisor did not discuss tax consequences for taking an early distribution.

There are Recent Customer Complaints with Broker Klay Nichol in Firm Galaxy Digital Partners LLC

October 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Klay Nichol (Nichol), previously associated with Galaxy Digital Partners LLC, has at least one disclosable event. These events include one customer complaint, alleging that Nichol 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 $3,991,791.00 on April 13, 2023.

In April 2023, the [REDACTED] commenced an arbitration against Galaxy Digital Partners LLC (“GDP”). In their statement of claim, the [REDACTED] allege that Mr. Nichol recommended investments that were unsuitable for the [REDACTED] given their investment objectives and respective ages. The [REDACTED] allege that Mr. Nichol made these purported recommendations between July 2021 and April 2022. Mr. Nichol is not a party to the arbitration. GDP settled this dispute with the [REDACTED] on or about February 21, 2024, with no party admitting or acknowledging any fault or liability. As part of this settlement, the [REDACTED] terminated the arbitration with prejudice, and released all claims that they have, had or May have against GDP and its affiliates, including Mr. Nichol.

Broker Walter Collins in Nylife Securities LLC Firm Has Customer Complaint

October 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Walter Collins (Collins), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Collins 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 $12,488.88 on April 18, 2023.

The customer alleged RR Collins advised him he would receive a yield of 4.78% or approximately $23,000 on a $500k par T-bill purchase made in or around March 2023. After the purchase, the RR realized he inadvertently provided incorrect information to the customer about the estimated dollar amount of the returns.

Broker Kenan Bell in MML Investors Services, LLC Firm Has Customer Complaint

October 19, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 17, 2023.

The complainant alleges that, beginning in August 2020, the rep provided her with investment advice related to stock sales and her retirement accounts, which he wasn’t qualified to do, and which caused her to lose money.

Broker Cynthia Anderson in LPL Financial LLC Firm Has Customer Complaint

October 19, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Cynthia Anderson (Anderson), currently associated with LPL Financial LLC, 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 $20,947.18 on March 23, 2023.

Prior to being securities registered, Ms. Anderson held an insurance license. During this time, she sold a fixed annuity to a client. The daughter of the client verbally complained that she felt the client was taken advantage of. She stated that her father did not have enough money to invest that much into an annuity. However, the information provided showed that he had sufficient funds for this purchase. However, the daughter later stated that she had put extra money into the client’s account so that he would qualify for a home loan. Ms. Anderson was not made aware of this. Based on the information provided, the trade was suitable.