Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Ealy (Ealy), currently associated with Cetera Advisor Networks LLC, has at least 4 disclosable events. These events include 4 customer complaints, alleging that Ealy 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 $25,000.00 on November 01, 2024.

Liquidity, investment purpose, and risk tolerance.  Further, the investment was misrepresented to client.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Cecilia Dicristofalo (Dicristofalo), currently associated with Lpl Enterprise, llc, has at least one disclosable event. These events include one customer complaint, alleging that Dicristofalo 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 $5,061.56 on January 06, 2025.

Customer purchased a Flexguard variable annuity in May 2022.  In October 2024, the customer expected to lock in a certain value but received a different locked in value.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Heck (Heck), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Heck 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 $5,000.00 on January 03, 2025.

Client alleges RR made an unsuitable recommendation, failed to disclose fees, and made misrepresentations in connection with a variable annuity purchased in 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Young (Young), currently associated with Ameriprise Financial Services, llc, has at least 5 disclosable event. These events include 5 customer complaints, alleging that Young 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 $101,400.00 on January 02, 2025.

Clients claim Willian Young failed to conduct a reasonable due diligence on the GWG investment, the GWG investment was misrepresented to the clients, and the GWG investment was unsuitable for the clients in view of their financial situations and needs, investment objectives and risk tolerance for their account.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Boruch Gutter (Gutter), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Gutter 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 $5,000.00 on January 12, 2025.

Client alleges RR Gutter made misrepresentations in connection with a VUL policy purchased in 2021 which was unsuitable for their financial needs.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Felsenfeld (Felsenfeld), currently associated with Ameriprise Financial Services, LLC, has at least 4 disclosable events. These events include 4 customer complaints, alleging that Felsenfeld 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 $101,400.00 on January 02, 2025.

Clients claim Willian Young failed to conduct a reasonable due diligence on the GWG investment, the GWG investment was misrepresented to the clients, and the GWG investment was unsuitable for the clients in view of their financial situations and needs, investment objectives and risk tolerance for their account.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Heck (Heck), previously associated with Equitable Advisors, llc, has at least one disclosable event. These events include one customer complaint, alleging that Heck 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 $5,000.00 on January 03, 2025.

Client alleges RR made an unsuitable recommendation, failed to disclose fees, and made misrepresentations in connection with a variable annuity purchased in 2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Ellis (Ellis), previously associated with Merrill Lynch, Pierce, Fenner & Smith incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Ellis 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 $1,000,000.00 on January 07, 2025.

Co-Personal Representatives for the estate allege that the Financial Advisor failed to act in the client’s best interest and made an unsuitable recommendation related to a variable annuity in June 2022.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial advisor Mark Bruscianelli (Bruscianelli), currently associated with B. Riley Wealth Management, has at least ten disclosable events. These events include ten customer complaints alleging that Bruscianelli recommended unsuitable investments in different investment products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $260,000 on April 22, 2024.

Alleges RR recommended unsuitable investments in client’s retirement accounts.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial advisor Michael Nielson (Nielson), currently associated with IFP Securities, LLC and Independent Financial Partners, has at least one disclosable events. These events include one customer complaints alleging that Nielson recommended unsuitable investments in different investment products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $150,000 on August 17, 2023.

Client alleges Mr. Neilson improperly recommended a high risk, high commission illiquid alternative investment, namely, GWG Holdings, Inc. and that Mr. Neilson misrepresented the investment to them and that it was inconsistent with their financial situation and needs, investment objectives and their risk tolerance.

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