Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Patrick Lawler (Lawler), currently associated with Purshe Kaplan Sterling Investments, has at least one disclosable event. These events include one customer complaint, alleging that Lawler 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 $27,000.00 on December 03, 2024.

Claimants allege that, in 2014, Representative recommended an investment in a real estate investment trust (REIT) that was not suitable for Claimants. Claimants further allege that Representative misrepresented the high-risk, speculative, and illiquid nature of the REIT.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Marizel Schiavetti (Schiavetti), currently associated with A.G.P. / Alliance Global Partners, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Schiavetti recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on November 15, 2024.

After client passed away his estate alleged breach of fiduciary duty, fraud by misrepresentation, and negligence between the years 2016-2018.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Elias Reyna (Reyna), currently associated with Centaurus Financial, Inc., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Reyna 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 $37,710.00 on November 18, 2024.

The customer alleges that in 2023, the Registered Representative purchased an investment in claimant’s IRA account without authorization and contrary to his investment goals.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Angela Grabovsky (Grabovsky), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Grabovsky 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 $42,508.07 on November 29, 2024.

The client alleged her advisor recommended a REIT investment that was unsuitable for her in 2014.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Lipschutz (Lipschutz), previously associated with UBS Financial Services Inc, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Lipschutz 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 $1,281,000.00 on December 17, 2024.

Time frame: 2024 Claimants, through counsel, allege that the former UBS advisor improperly invested all of their assets on a highly speculative trading platform that was not authorized by UBS, which resulted in heavy losses.

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

FINRA BrokerCheck shows a pending customer complaint on November 25, 2024.

Plaintiffs allege that Defendants collectively conspired and participated in a fraudulent scheme that attempted to minimize tax liability through a charitable planning trust strategy, which involving establishing various trusts and purchasing certain whole life insurance policies.

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

FINRA BrokerCheck shows a pending customer complaint on November 22, 2024.

Claimant is the estate of RR’s mother, which is being administered by the RR’s estranged sister. After RR contested the will, Claimant (through sister) alleged that RR did not file requested change of beneficiary forms for his mother’s brokerage accounts.

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

FINRA BrokerCheck shows a pending customer complaint on December 30, 2024.

The Plaintiff alleges during an unspecified time frame, the FA made unauthorized trades.

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

FINRA BrokerCheck shows a pending customer complaint on December 05, 2024.

The complainants allege that, beginning in 2021, the rep <double_quote>twisted<double_quote> their annuities, which they also allege he misrepresented, were not in their best interests and caused them financial harm.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Openshaw (Openshaw), previously associated with KCD Financial, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Openshaw 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 November 11, 2024.

Three purchases of REITS occurring between 08/03/2018 and 02/19/2019.  Client claims transactions were unsuitable

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