Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Natoli (Natoli), previously associated with Park Avenue Securities LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Natoli 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 $43,000.00 on October 29, 2024.

Client alleges the RR solicited and accepted loans from him on three separate occasions in 2023 totaling $43,000 plus interest.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ryan Callahan (Callahan), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Callahan 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 $22,419.00 on July 15, 2024.

Client alleged that her advisors failed to reallocate the funds in her Variable Universal Life policy (VUL) as she instructed in August 2023, December 2023 and again in January 2024, resulting in missed gains.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Karen Schmidt (Schmidt), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schmidt 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 $400,000.00 on March 11, 2024.

Customers allege that in or around May 2018, the Representative sold them unsuitable non-variable life insurance policies and a fixed annuity, and that the Representative did not inform them of the illiquid nature of the annuity. Customers also allege that the representative initiated a transfer from a brokerage account without their knowledge to fund the fixed annuity.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joshua Chabot (Chabot), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Chabot 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 $22,419.00 on July 15, 2024.

Client alleged that her advisors failed to reallocate the funds in her Variable Universal Life policy (VUL) as she instructed in August 2023, December 2023 and again in January 2024, resulting in missed gains.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kiffin Anderson (Anderson), previously associated with Brokers International Financial Services, LLC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Anderson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

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

Clients allege that the representative; ignored their requests to not invest in annuities, while failing to disclose surrender fees and contract expenses, the representative’s suspension status and his change of broker/dealer impacted their ability to access the funds without surrender charges for the intention of investing in CDs.

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

FINRA BrokerCheck shows a settled customer complaint on April 19, 2024.

Customer alleges that former FA made a misrepresentation of an annuity contract in 2010 and that current FA failed to correct

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

FINRA BrokerCheck shows a pending customer complaint on July 23, 2024.

Customer alleges RR Felicelli made unsuitable recommendations in connection with a variable annuity purchased in 2013.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Covalt (Covalt), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Covalt 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 $425,000.00 on February 07, 2025.

Client alleges RR processed unauthorized withdrawals on IRA account without prior consent.

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

FINRA BrokerCheck shows a pending customer complaint on March 13, 2025.

Failure to Supervise

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Larsen (Larsen), currently associated with Creativeone Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Larsen 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 $112,000.00 on March 05, 2024.

Consumer claims best interest was not considered when placing monies into annuity

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