Articles Posted in Reg BI

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

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

Claimant alleges that during the time period August 2018 to October of 2022, representative failed to make trades in her accounts, and failed to timely respond to requests.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Fraser (Fraser), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Fraser 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 $2,000,000.00 on March 25, 2024.

Claimant alleges that during the time period 2011-2023, representative recommended unsuitable investments in variable annuities.

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

FINRA BrokerCheck shows a settled customer complaint on March 24, 2024.

With regard to a fixed annuity policy purchased in April 2016, the Policyowner alleged the funds, received from another firm, were intended as a retirement investment and due to inaccurate information received from the RR, she missed growth opportunity for several years.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Napier (Napier), currently associated with Ausdal Financial Partners, INC., has at least one disclosable event. These events include one customer complaint, alleging that Napier 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 $150,000.00 on March 25, 2024.

Negligence and Negligent Supervision,  Violations of the Indiana Securities Act, Breach of Fiduciary Duty, Violation of FINRA Conduct Rules and NYSE Board Rules.

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

FINRA BrokerCheck shows a pending customer complaint on March 27, 2024.

Claimants allege, inter alia, that the investments strategy executed in the client’s account was unsuitable – 2021 – 2022

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Gutwein (Gutwein), currently associated with MML Investors Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Gutwein 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 March 25, 2024.

The complainants allege that their Whole Life Policies, that were issued on/or about July 7, 2022, and the Alternative Investment/Limited Partnership they invested in, in/and around December 2022, were both unsuitable recommendations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Hurckes (Hurckes), currently associated with Ausdal Financial Partners, INC., has at least one disclosable event. These events include one customer complaint, alleging that Hurckes 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 $150,000.00 on March 25, 2024.

Violation of Federal Securities Laws,  Violation of IL Consumer Fraud and Deceptive Business Practices Act, Violation of IL Securities Law, Breach of Contract,  Common Law Fraud,  Breach of Fiduciary Duty,  Negligence and Gross Negligence.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jason Murphy (Murphy), currently associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Murphy 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 $160,000.00 on March 25, 2024.

Customer alleges that investment account was to have very little risk, and that registered representative advised customer that investing in a certain stock in 2019 and 2020 had almost no risk, which resulted in losses.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Samuel Phillips (Phillips), currently associated with Cape Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Phillips 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 March 27, 2024.

Customer alleges misrepresentation of product and risks, over concentration, negligence, lack of due diligence and supervision.

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

FINRA BrokerCheck shows a final customer complaint with a damage request of $50,000.00 on March 26, 2024.

Claimants alleges, inter alia, that the annuity investment in his account was unsuitable 2013-2022.

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