Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ryan Derks (Derks), previously associated with Berthel, Fisher & Company Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Derks 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 $600,000.00 on July 28, 2023.

Unauthorized sale of stock.

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

FINRA BrokerCheck shows a pending customer complaint on July 31, 2023.

The Personal Representative (“Executor”) of a deceased client alleged that, in 2015, certain features of rate-linked Certificate of Deposits (“CDs”) were not disclosed, and further alleges the CDs were not suitable for the purchasers.

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

FINRA BrokerCheck shows a pending customer complaint on July 31, 2023.

Plaintiffs allege, among other things, that they were misled into purchasing variable annuities and insurance after liquidating mutual funds at a prior firm. They also allege that the recommended variable annuity purchased in April 2021 was inappropriate for their needs.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Victor Carrizal (Carrizal), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Carrizal 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 $37,036.00 on July 26, 2023.

Client  alleges unsuitable investment recommendations. Activity dates January 2020 to February 2023.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gus Mask (Mask), currently associated with Charles Schwab & Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Mask 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 $150,000.00 on July 27, 2023.

The Statement of Claim alleges the financial professional recommended a complex, alternative investment without regard for the impact it might have on the client.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Dukes (Dukes), currently associated with Westpark Capital, INC., has at least one disclosable event. These events include one customer complaint, alleging that Dukes 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 $25,000.00 on August 02, 2023.

Unsuitability, Breach of fiduciary duty, Negligence and Negligent Misrepresentation, Breach of Contract, Failure to Supervise, and Violation of Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Walls (Walls), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Walls 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 $60,000.00 on July 26, 2023.

Trustee complained that the financial advisor sold securities in a discretionary account after having been instructed not to do so. (10/17/2022-8/15/2023)

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rick Smith (Smith), currently associated with State Farm Vp Management Corp., has at least one disclosable event. These events include one customer complaint, alleging that Smith 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 $296.80 on July 26, 2023.

Theft complaint – Customer had an auto policy & his ex-wife called to change the address but not the payment info which was Brad’s credit card.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Neil Lance (Lance), currently associated with Advanced Advisor Group, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lance 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 $653,187.00 on July 26, 2023.

Claimant alleges representative recommended they invest in an unsuitable Tenants-In-Common investment in 2007

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Craig Emerson (Emerson), currently associated with Cetera Advisor Networks LLC, has at least one disclosable event. These events include one customer complaint, alleging that Emerson 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 $215,000.00 on July 31, 2023.

Claimants allege breach of fiduciary duty.

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