Reg BI

Broker Raymond Brown in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

July 24, 2025 | by Staff Attorney

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 $121,499.00 on May 15, 2025.

Customers allege that in or around September 2023, the Representative misrepresented life insurance policies, including a variable universal life policy, as flexible, liquid investment vehicles with tax-free growth and that any money paid in could be accessed. Customers allege the Representative did not disclose the insurance nature of the products; costs; liquidity limitations; and the restrictions and consequences of altering or stopping contributions (premium payments).

There are Recent Customer Complaints with Broker Alex Ng in Firm PHX Financial, INC.

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alex Ng (Ng), currently associated with PHX Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ng 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 May 16, 2025.

Client alleges misrepresentation, negligent behavior and breach of fiduciary duties.

There are Recent Customer Complaints with Broker Jens Shroyer in Firm Performance Trust Capital Partners, LLC

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jens Shroyer (Shroyer), currently associated with Performance Trust Capital Partners, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Shroyer 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 $55,775,000.00 on May 14, 2025.

The individual is a named party in an arbitration proceeding initiated by an institutional investor. The complaint alleges claims for common law breaches – namely stemming from alleged unsuitable recommendations during the time the account was active, approximately 2015 – 2023.

There are Recent Customer Complaints with Broker Michael Lickiss in Firm Purshe Kaplan Sterling Investments

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Lickiss (Lickiss), previously associated with Purshe Kaplan Sterling Investments, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Lickiss 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 $350,000.00 on May 15, 2025.

Debt instruments/Fictitious notes

There are Recent Customer Complaints with Broker Hongyan Lu in Firm Cetera Wealth Services, LLC

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Hongyan Lu (Lu), currently associated with Cetera Wealth Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lu 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 $100,000.01 on May 14, 2025.

Claimant alleges unsuitable investment recommendations which resulted in losses.

There are Recent Customer Complaints with Broker David Reimer in Firm Dominari Securities LLC

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Reimer (Reimer), currently associated with Dominari Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Reimer 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 $50,000.00 on May 14, 2025.

Failure to supervise, unsuitable investments

Broker Daniel Schapiro in Dominari Securities LLC Firm Has Customer Complaint

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Schapiro (Schapiro), currently associated with Dominari Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schapiro 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 $50,000.00 on May 14, 2025.

Unsuitable investments.

There are Recent Customer Complaints with Broker Kenneth Offenberg in Firm Raymond James & Associates, INC.

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Offenberg (Offenberg), currently associated with Raymond James & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Offenberg 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 $11,243.62 on May 16, 2025.

Client alleged advisor sold position without authorization. Allegation dates: 03/06/2023 – 05/16/2025

Broker Thomas Reis in PFS Investments INC. Firm Has Customer Complaint

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Reis (Reis), currently associated with PFS Investments INC., has at least one disclosable event. These events include one customer complaint, alleging that Reis 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 $50,000.00 on May 16, 2025.

Customer alleges RR provided poor service by not pushing hard enough to get a rollover transaction completed fast enough to avoid a downturn in the market.

There are Recent Customer Complaints with Broker J Byron Davies in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker J Byron Davies (Davies), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Davies 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 $370,795.74 on May 16, 2025.

Client alleges unsuitability and misrepresentation.