Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frank Avallone (Avallone), currently associated with Ceros Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Avallone 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 $2,707,818.00 on November 28, 2022.

Client claimed unsuitability, conflict of interest, failure to supervise, breach of duty of loyalty, and Respondeat Superior.

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

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $22,924,541.00 on November 30, 2022.

John Priebe was a subject of the customer’s complaint against his member firm that asserted the following causes of action: violation of federal regulations; violation of the Securities and Exchange Act of 1934; violation of Minn. Stat. \\u00a7 45.026; violation of Minn. Stat. \\u00a780A.68; violation of FINRA rules; fraud; breach of fiduciary duty; negligence; breach of contract; respondeat superior; and negligent supervision.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Simpson (Simpson), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Simpson 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 November 28, 2022.

The client alleged the advisor did not follow her January 2022 instructions to process a full surrender of her variable annuity.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Peter Radvanyi (Radvanyi), previously associated with Newbridge Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Radvanyi 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 $180,000.00 on November 30, 2022.

Breach of Fiduciary Duty, Breach of Contract,  Suitability , failure to  Supervise, Violation of the Federal Securities Law, Violation of FINRA Rules 2210,IM 2310-20and 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ronald Mcleod (Mcleod), previously associated with Moloney Securities Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Mcleod 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 November 28, 2022.

Negligence; breach of fiduciary duty; negligent supervision

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Boblis (Boblis), previously associated with Fsc Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Boblis 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 $10,000.00 on November 30, 2022.

Client alleges that advisor did not invest his funds in a timely manner and he was charged advisory fees while sitting in cash when he thought the advisor would invest his funds.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Saul Rothberger (Rothberger), currently associated with Avantax Investment Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Rothberger 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 $4,000,000.00 on November 30, 2022.

Client alleged the representative utilized an unsuitable investment strategy.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Donald Rhodes (Rhodes), previously associated with American Equity Investment Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Rhodes 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 $120,000.00 on November 30, 2022.

Claimant purchased a $120,000 bond with GWG Holdings Inc. in April, 2021. In April 2022, GWG Filed for Chapter 11 bankruptcy reorganization, which is still pending. Claimant alleges the bond was unsuitable and the respondent did not sufficiently convey the risks involved.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Margarita Flores (Flores), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Flores 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 November 28, 2022.

Customer alleges that he was not informed of fees, taxes and charges related to his additional investment into an existing variable universal insurance policy in November 2022. Customer has requested the cancellation of the additional investment and the return of his funds without penalty or fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Edward Balmes (Balmes), currently associated with Moloney Securities Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Balmes 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 $99,000.00 on November 28, 2022.

Suitability/negligence

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