Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Barghini (Barghini), previously associated with Ausdal Financial Partners, INC., has at least one disclosable event. These events include one customer complaint, alleging that Barghini 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 October 10, 2022.

SUITABILITY, DUE DILIGENCE, BEACH OF CONTRACT, FAILURE TO SUPERVISE

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

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $10,900,000.00 on October 10, 2022.

Mickey Mclellan was a subject of the customer’s complaint against his member firm that asserted the following causes of action: unsuitability, breach of fiduciary duty, breach of contract, negligence, unjust enrichment, strict liability, and failure to supervise.

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

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $10,900,000.00 on October 10, 2022.

Sherman Felix was a subject of the customer’s complaint against his member firm that asserted the following causes of action: unsuitability, breach of fiduciary duty, breach of contract, negligence, unjust enrichment, strict liability, and failure to supervise.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Samuel Ingram (Ingram), previously associated with J.w. Cole Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ingram 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 October 10, 2022.

Customer alleges that the oil and gas limited partnership purchased was not researched and vetted before allowing to be sold by representative therefore contributing to loss of principal invested.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Luann Chapmangatts (Chapmangatts), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Chapmangatts 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 $2,167,458.00 on October 12, 2022.

The plaintiff alleges that the representative mishandled   beneficiary change forms and misrepresented when the change forms were received causing the plaintiff to lose one half of the inheritance at issue. Allegations include breach of fiduciary duty, negligent undertaking, negligent representation and gross negligence.

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

FINRA BrokerCheck shows a settled customer complaint on October 11, 2022.

The policyowner alleges that when he purchased a variable annuity in June 2021 it was with the understanding he would receive 4% interest with the investment preservation rider included. The policyowner stated he has recently learned that the rider was not included with the policy and he is requesting that it be added at this time.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jonathan Ellefson (Ellefson), currently associated with Ausdal Financial Partners, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Ellefson 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 $538,000.00 on October 12, 2022.

Claimant(s) allege Breach of Fiduciary Duty, Negligent misrepresentations, Gross Negligence, violation of FINRA rules, Negligent supervision, breach of contract and Fraud.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lawrence Combs (Combs), previously associated with Proequities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Combs 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 $348,500.00 on October 12, 2022.

Client alleges unsuitable recommendations regarding alternative investments made from 2006 to 2015.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gary Benson (Benson), currently associated with Independent Financial Group, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Benson 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 $200,000.00 on October 13, 2022.

Claimant alleges product was not suitable

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Joyce (Joyce), currently associated with Westpark Capital, INC., has at least one disclosable event. These events include one customer complaint, alleging that Joyce 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 $65,000.00 on October 12, 2022.

Customer alleged that his investment in GWG was unsuitable based on his risk tolerance.

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