Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Owens (Owens), currently associated with Cambridge Investment Research, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Owens 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 April 17, 2020.

Allegations of improper investment recommendations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Molnar (Molnar), currently associated with Northwestern Mutual Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Molnar 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 April 15, 2020.

Customer alleged the representative’s advice and actions caused a variable annuity that the customer owned through Minnesota Life Insurance Company/Securian Financial to lose value, and that representative did not adequately fulfill his responsibilities to her and provided her with incorrect information about the effect of taking withdrawals (which occurred in late 2012, early 2013) from the variable annuity.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Patrick Albrecht (Albrecht), previously associated with Calton & Associates, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Albrecht recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 14, 2020.

Failure to conduct adequate Due Diligence, Negligence, Misrepresentation, Breach of Fiduciary Duty.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Bittermann (Bittermann), currently associated with Oppenheimer & CO. INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Bittermann recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 20, 2020.

Client alleges investments were not fully explained and were unsuitable between November 2012 and March 2020

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Fast (Fast), previously associated with the Huntington Investment Company, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Fast 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 $15,458.00  on August 07, 2020.

Client alleged that the Huntington Investment Company (HIC) representative erroneously represented that he had placed the client’s order to purchase a leveraged exchange-traded fund when the trade was not in fact placed. We have estimated the allegation activity dates for this complaint as 3/13/2020 to 3/13/2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Meredith Mccutchen (Mccutchen), previously associated with Moody Securities, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Mccutchen 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 August 11, 2020.

Claim alleges that Rep recommended investment in UDF IV the day before trading was halted and that this was not a suitable recommendation due to the risk involved in the investment and high concentration of alternative investments in the customer’s accounts.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Jaggi (Jaggi), currently associated with Nylife Securities LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Jaggi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on August 05, 2020.

Upon reviewing the customer’s Variable Annuity policies, the Firm noted that the surrender charges on the replacement policy exceeded suitability guidelines. The customer accepted the Firm’s offer to refund the surrender charge incurred in the replacement of the variable annuity purchased in March 2019.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Zimmerman (Zimmerman), currently associated with LPL Financial LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Zimmerman 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 $30,000.00  on August 10, 2020.

Elderly Claimant alleges poor recommendation of an investment in FS KKR, which Claimant contends was unsuitable because the value of the investment allegedly declined following a public listing event. Activity Period:  2/20/18 – 8/10/20

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kelley Edwards (Edwards), currently associated with UBS Financial Services INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Edwards 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 $17,500.00  on August 10, 2020.

Time Frame: January 02, 2020 to May 31, 2020\<char_lb_r>\, \<char_lb_r>\, What were the allegations against the individual? \<char_lb_r>\, The Trustee alleges her instructions to make investment purchases for the 401 k plan was not followed.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Diaz (Diaz), previously associated with Principal Securities, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Diaz 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 10, 2020.

The Trustee alleges the Trust lost money due to the representative’s failure to execute instructions to [REDACTED] accounts prior to his death.

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