Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ernest Stiba (Stiba), currently associated with Lion Street Financial, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Stiba 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 $200,000.00 on July 10, 2023.

Alternative investment, client alleges alternative investment was an inappropriate recommendation for novice unsophisticated investors

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Yoon Lee (Lee), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lee 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 $19,606.66 on July 13, 2023.

The customers allege they did not electronically sign fixed annuity applications in December 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brendan Lowry (Lowry), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lowry 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 $14,791.97 on July 13, 2023.

Customer alleges unauthorized wire transfer from account in June 2023.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Velez (Velez), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Velez 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 $32,000.00 on July 13, 2023.

Customer alleged the Representative misrepresented a variable universal life insurance policy as an investment and alleged the policy was not suitable for the customer because of the premium obligations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Wagstaff (Wagstaff), currently associated with Fidelity Brokerage Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Wagstaff 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 $184,000.00 on July 12, 2023.

Customer alleged that the representative made an unsuitable recommendation to transfer an annuity that caused a tax event.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Bradley Meyers (Meyers), previously associated with Arete Wealth Management, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Meyers 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 $50,000.00 on July 17, 2023.

Client alleges unsuitable investment recommendations in July 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Derek Taylor (Taylor), currently associated with the Huntington Investment Company, has at least one disclosable event. These events include one customer complaint, alleging that Taylor 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 July 13, 2023.

Client alleges that the advisor’s recommendation to invest in a REIT was unsuitable. The allegation activity date was 3/15/2023.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Mills (Mills), previously associated with J.w. Cole Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mills 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 $18,100.00 on July 16, 2023.

Customer alleged that positions transferred into their account were liquidated when they should have been transferred in-kind.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kirk Balin (Balin), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Balin 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 $400,000.00 on July 13, 2023.

Customer alleges representative recommended an unsuitable portfolio of investments from 2016-2023.

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

FINRA BrokerCheck shows a final customer complaint on July 21, 2023.

Respondent Luley failed to respond to FINRA requests for information.

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