Reg BI

Broker Brian Lombardi in Sutter Securities Incorporated / Boustead Securities, LLC Firm Has Customer Complaint

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Lombardi (Lombardi), currently associated with Sutter Securities Incorporated / Boustead Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lombardi 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 $99,500.00 on September 17, 2025.

When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts.

Broker Leslie Sprockett in Stonex Securities INC. Firm Has Customer Complaint

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Leslie Sprockett (Sprockett), currently associated with Stonex Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Sprockett 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 $180,000.00 on September 18, 2025.

Claimant alleges respondent provided unsuitable investment advice and/or acted negligently in connection with securities transactions

Broker Steven Brundage in Ameriprise Financial Services, LLC Firm Has Customer Complaint

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Brundage (Brundage), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Brundage 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 $1,212,685.00 on September 17, 2025.

Claimants allege that from January 2017 through September 2023 they suffered substantial losses due to Respondents’ strategy including concentrating Claimants’ accounts in mutual funds, market-timing, and purchasing two proprietary variable annuities.

Broker Brian Zimmerman in Independent Financial Group, LLC Firm Has Customer Complaint

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Zimmerman (Zimmerman), currently associated with Independent Financial Group, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Zimmerman 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 $125,000.00 on September 12, 2025.

Claimant wasn’t explained the risk of such investment therefore, and Claimant has been decimated by the losses sustained by Respondent’s investment recommendations.

There are Recent Customer Complaints with Broker John Shortal in Firm Moloney Securities Co., INC.

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Shortal (Shortal), currently associated with Moloney Securities Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Shortal 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 $90,000.00 on September 15, 2025.

Suitability/negligence. 2018-2020

There are Recent Customer Complaints with Broker Mark Kemp in Firm Mcnally Financial Services Corporation

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Kemp (Kemp), currently associated with Mcnally Financial Services Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Kemp 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 $500,000.00 on September 19, 2025.

Beginning in January 2018, the Respondent is alleged to have concentrated over 60% of the Petitioner’s assets into three alternative investments. The Respondent is further alleged to have made material misrepresentations and omissions regarding the risk and lack of liquidity of the alternative investments, which resulted in the Petitioner sustaining substantial losses.

Broker Jeffrey Bangerter in Concorde Investment Services, LLC Firm Has Customer Complaint

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Bangerter (Bangerter), currently associated with Concorde Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bangerter 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 $700,000.00 on September 17, 2025.

Claim is alleging breach of fiduciary duty, suitability, breach of written contract, and misrepresentation related to October 2022 investment.

Broker Andrew Zigouras in Concorde Investment Services, LLC Firm Has Customer Complaint

October 30, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on September 19, 2025.

Client is alleging that the agent misrepresented the terms of policy purchased in 2022.

There are Recent Customer Complaints with Broker Tillman Pugh in Firm MML Investors Services, LLC

October 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tillman Pugh (Pugh), currently associated with MML Investors 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 pending customer complaint with a damage request of $11,000.00 on September 17, 2025.

The complainant alleges that the registered representative misrepresented the fixed annuity that was issued on September 26, 2024, which was funded from a variable annuity, never explained there was a seven-year restriction and a 10% maximum on yearly withdrawals. The complainant says accessing the money before seven years would cause her to incur a penalty of $11,000.

There are Recent Customer Complaints with Broker Norman Dix in Firm Wells Fargo Clearing Services, LLC

October 30, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on September 18, 2025.

The client complains that she instructed the Financial Advisor not to sell specific stocks when incepting her portfolio into a managed program; however the stocks were sold and client seeks reversal of the transactions. (5/8/2025-9/18/2025)