Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Skinner (Skinner), previously associated with First Republic Securities Company, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Skinner 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 $5,000,000.01 on June 22, 2020.

For the period August 2014 to May 2019, client alleges, inter alia, that the registered representative recommended unsuitable positions in violation of FINRA rules.

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

FINRA BrokerCheck shows a settled customer complaint on June 23, 2020.

Claimants allege that former LFS Registered Representative Barry Horowitz improperly referred Claimants to an individual who was a known fraudster and who solicited Claimants into purchasing a promissory note. Claimants allege total damages in excess of $999,999.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Nagy (Nagy), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Nagy 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 $15,153.91 on June 23, 2020.

Client alleges that the Municipal Securities mutual fund that he purchased was not suitable for him based on his risk tolerance. Purchase date August 2019; resolution date July 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Phillip Smelser (Smelser), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Smelser 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 $600,000.00 on June 29, 2020.

SOC alleges the sale of unsuitable investments, misrepresentation and other sales practice violations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jack Owens (Owens), previously associated with Gradient Securities, LLC, has at least one disclosable event. These events include one customer complaint, 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 $100,000.00 on June 22, 2020.

Representative is party to this arbitration which claims firm breach of fiduciary duty as it relates to the supervision of annuity transactions.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Coffman (Coffman), currently associated with Valmark Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Coffman 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 $17,790.52 on June 26, 2020.

Client alleges that in 2019 instructions to stop automatic income distributions set up on her account were not executed and as a result suffered losses in the form of extra taxes owed and additional Medicare expenses in 2021 from inflated 2019 income.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Perry (Perry), previously associated with Brokers International Financial Services, LLC., has at least one disclosable event. These events include one customer complaint, alleging that Perry 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 June 22, 2020.

Arbitration claims Insurance Agent took checks made payable to his firm totaling $150,000 and converted it for personal use. Firm and Rep are named as responsible for supervision of the Agent’s activity for his own company where Rep happened to be employed.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carlos Abad (Abad), previously associated with Tfs Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Abad 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 $100,000.00 on June 22, 2020.

Claimant believes rep placed his retirement assets into speculative/high commission alternative investments that were unsuitable; believes majority of his retirement assets were lost under reps care and guidance

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Louis Bayhi (Bayhi), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bayhi 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 $11,002.00 on June 29, 2020.

The customer alleges the RR never advised him in September 2019 that he would incur a tax obligation when he recommended that he exchange one fund for another in his Mainstay mutual fund account. As a result of the poor recommendation, the customer alleged he incurred an $11,000 additional tax obligation and he is requesting to be made whole for the extra taxes incurred.

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

FINRA BrokerCheck shows a settled customer complaint on June 24, 2020.

Claimant alleges fa over-concentrated her portfolio in unsuitable investments

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