Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dean Jaeger (Jaeger), currently associated with Raymond James Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Jaeger 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 December 22, 2021.

Client alleged advisor did not manage account in their best interest. Allegation Activity Dates: 10/29/2019 – 12/22/2021.

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

FINRA BrokerCheck shows a settled customer complaint on December 22, 2021.

The complainant alleges that beginning on or around March 2019, their registered representative recommended that they invest all their Roth IRA into one mutual fund, which resulted in a 55% loss. The complainant further states their registered representative knew that they did not want to take any unnecessary risks with their investing.

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

FINRA BrokerCheck shows a settled customer complaint on December 17, 2021.

Violations of FINRA rules, Negligence, Breach of Fiduciary Duty

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Herman Kahn (Kahn), previously associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kahn 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 $110,000.00 on December 29, 2021.

Claim alleges that the FP and firm failed to disclose the risky nature of 2 investments and that the transactions were not suitable based on investment objectives and risk tolerance.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Willard Pugh (Pugh), currently associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Pugh 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 $100,000.01 on December 22, 2021.

THE MATTER IS REPORTED BASED ON THE INFORMATION FILED BY PRIOR EMPLOYING FIRM: DAWSON JAMES SECURITIES, INC. (“DJS”). FOLLOWING IS THE EXPLANATORY SUMMARY FILED BY DJS WITH RESPECT TO THE REPORTED MATTER: “CLAIMANTS ALLEGE THAT RESPONDENT DID NOT CONDUCT A REASONABLE DUE DILIGENCE ON HIT, THAT THE RISKS OF THIS INVESTMENT WAS NOT DISCLOSED TO THEM, AND THAT THIS INVESTMENT WAS UNSUITABLE FOR THEM BECAUSE THE RISKS WERE NOT DISCLOSED TO THEM AND THIS INVESTMENT RECOMMENDATION WAS INCONSISTENT WITH THEIR INVESTMENT OBJECTIVES AND RISK TOLERANCE”

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

FINRA BrokerCheck shows a settled customer complaint on December 17, 2021.

Time Frame: June 14, 2019 to December 15, 2021\, The client’s son in law who has authorization alleges the fee structure was not suitable for an 84 years old, whose husband is recently deceased and has approximately less than $2 million in fixed income.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Shopoff (Shopoff), currently associated with Shopoff Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Shopoff 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 December 21, 2021.

Plaintiff alleges misstatements and omissions, and related claims, in connection with Tenant-in-Common/1031 Exchange investment transactions in real estate property in late 2016.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Burton Carter (Carter), previously associated with J.w. Cole Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Carter 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 $101,544.00 on December 21, 2021.

Client alleges registered representative breached his fiduciary duty and was negligent when assisting her conservators in liquidating her account.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Woods (Woods), previously associated with Oppenheimer & CO. INC., has at least one disclosable event. These events include one customer complaint, alleging that Woods 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 $6,989,702.00 on December 28, 2021.

Woods was a subject of the customers’ complaint against his member firm that asserted the following causes of action: violations of FINRA Rules; breach of fiduciary duty; aiding and abetting breach of fiduciary duty; breach of contract and breach of the duty of good faith and fair dealing; unlawful sales of securities; and respondeat superior/agency by estoppel liability.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Heublein (Heublein), currently associated with Cetera Advisors LLC, has at least one disclosable event. These events include one customer complaint, alleging that Heublein 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 $140,000.00 on December 31, 2021.

Client is requesting compensation for option losses in which she alleges the representative provided poor advice.

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