Reg BI

There are Recent Customer Complaints with Broker Michael Wynn in Firm Gwn Securities INC.

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Wynn (Wynn), currently associated with Gwn Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Wynn 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 $166,377.00 on July 05, 2023.

[REDACTED] allege that they were convinced to give up their previously held policies in order to purchase three separate Prudential VUL investments. The allegations state that these policies were sold to them by an insurance agent who misleadingly held himself out to be knowledgeable and properly licensed to sell variable insurance within the State of New Jersey. In addition, the agent completed the applications and unbeknownst to the client’s used registered representative Michael Wynn to witness the signatures after the fact.

There are Recent Customer Complaints with Broker Krishnamurthy Prasad in Firm Nylife Securities LLC

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Krishnamurthy Prasad (Prasad), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Prasad 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 $9,265.13 on July 03, 2023.

The Customer accepted the Company’s written offer of a one-time settlement after a requested review of the customer’s accounts, which showed the purchase of a fixed annuity in November 2016 contained proceeds of two existing variable annuities, which provided a better rate.

Broker Timothy Sweeney in Centaurus Financial, INC. Firm Has Customer Complaint

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Sweeney (Sweeney), currently associated with Centaurus Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Sweeney 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 $45,000.00 on June 29, 2023.

In July 2020, the customer alleges that the Registered Representative recommended a high-risk, illiquid and unsuitable investment.

Broker Michael Moultrie in Cetera Investment Services LLC Firm Has Customer Complaint

August 28, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on June 30, 2023.

Claimant alleges their registered rep misrepresented the investments

There are Recent Customer Complaints with Broker Richard Beckert in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Beckert (Beckert), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Beckert recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on July 03, 2023.

Customer alleges that the registered representative did not act in the customers best interest regarding fees and commissions charged in March 2022.

Broker James Saar in Center Street Securities, INC. Firm Has Customer Complaint

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Saar (Saar), previously associated with Center Street Securities, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Saar 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 $50,000.00 on July 03, 2023.

Client alleges registered representative recommended an unsuitable investment.

Broker Jonathan Way in Wedbush Securities INC. Firm Has Customer Complaint

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jonathan Way (Way), previously associated with Wedbush Securities INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Way recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 29, 2023.

Without admitting or denying the findings, Way consented to the sanctions and to the entry of findings that he refused to provide documents and information requested FINRA in connection with an investigation. The findings stated that this matter originated from FINRA’s review of a Form U5 filed by Way’s member firm, that stated that he was permitted to resign while under internal review for potential sales practice violations. Way responded to FINRA’s initial request, however, he ultimately refused to produce the information and documents requested.

There are Recent Customer Complaints with Broker Jeffrey Molinari in Firm American Veterans Group, Pbc

August 28, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on June 30, 2023.

Client complained about the size of several municipal bond positions acquired between 2017 and 2019 and questioned the performance/value of such bonds.

Broker Ernest Harris in Union Capital Company Firm Has Customer Complaint

August 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ernest Harris (Harris), previously associated with Union Capital Company, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Harris 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 $15,000.00 on June 27, 2023.

Poor performance/advise

Broker Parker King in LPL Financial LLC Firm Has Customer Complaint

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Parker King (King), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that King 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 $5,000.00 on July 11, 2023.

Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest.