Articles Posted in Reg BI

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

FINRA BrokerCheck shows a pending customer complaint on April 11, 2025.

Customer alleges that there was a misallocation in the investment and that certain terms were not adequately disclosed.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raymond Brown (Brown), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Brown 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 $14,396.00 on April 15, 2025.

Customer alleges that the variable universal life insurance policy the Representative recommended in or around March 2024 was not suitable for the customer’s goals.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Culwell (Culwell), currently associated with Emerson Equity LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Culwell 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 $300,000.00 on March 18, 2025.

Compensatory damages, breach of written contract, breach of fiduciary duty, negligence and gross negligence, misrepresentations and omissions, violation of FINRA rules, violation of federal securities laws, violation of California Securities Act, violation of Best Interest Obligations (Reg BI), purchased in 2018

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Huber (Huber), currently associated with Concorde Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Huber 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 April 11, 2025.

Clients are alleging that rep failed to recommend suitable investments resulting in significant losses. Activity occurred from 2019 to 2025.

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

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

Client alleges misrepresentation from April 2024-May 2025.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Minter (Minter), currently associated with Lifemark Securities Corp., has at least one disclosable event. These events include one customer complaint, alleging that Minter 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 $300,000.00 on April 28, 2025.

Allegations pertain to investments in alternative products, intended to be a small component of a larger diversified portfolio. Investments were purchased in 05/2020 and 06/2020. Allegations include unsuitable investment, breach of contract, breach of fiduciary duty, negligence, and misrepresentation.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Peirano (Peirano), currently associated with Morgan Stanley, has at least one disclosable event. These events include one customer complaint, alleging that Peirano 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 $2,023,505.16 on May 15, 2025.

Claimant alleges, inter alia, recommendation to open Liquidity Asset Lines was unsuitable.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Evan Dienstag (Dienstag), currently associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Dienstag 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 $20,244.00 on March 31, 2025.

Client complains they deposited funds in their 529 accounts, expecting the Financial Advisor to invest the funds. The client is requesting to be compensated on the lost opportunity for uninvested funds. (10/25/07-9/1/16)

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Roland Cuellar (Cuellar), currently associated with MML Investors Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Cuellar 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 $44,739.30 on May 21, 2025.

The complainant, estranged spouse of the registered representative currently involved in divorce proceedings, alleges fraud against the rep for obtaining a check for $44,739.30 in April 2023 as a loan against her whole life insurance policy without her consent.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Schaul (Schaul), currently associated with Pinnacle Investments, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schaul 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 $40,000.00 on May 08, 2025.

Client alleges Mr. Schaul misrepresented the investment as a very safe fund that moved minimally. Based on this recent performance was not in line with the client’s expectations and as such the client states they have less capital than they initially invested.

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