Securities Lawyers Blog

Broker Thomas Pandolph in Allegheny Investments, Ltd. Firm Has Customer Complaint

November 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Pandolph (Pandolph), previously associated with Allegheny Investments, Ltd., has at least one disclosable event. These events include one customer complaint, alleging that Pandolph 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 $5,000.00 on April 12, 2022.

Client emailed Tom on 4/12/2022 stating that she was very disappointed in his decision to move all her money into something she didn’t approve. She made it known that she didn’t want risk but felt he moved her entire amount into something risky. She also stated that she lost over 10k over the past 3 years.

Broker Jeffrey Morand in Independent Financial Group, LLC Firm Has Customer Complaint

November 30, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 08, 2022.

Breach of fiduciary duty, suitability, Securities Act, common law fraud and common law negligence, violation of FINRA Rule 2210, violation of FINRA rules 2010, IM-2310-2, and 2020, fraudulent misrepresentations and omissions, and breach of contract

There are Recent Customer Complaints with Broker Michael Lee in Firm Ameriprise Financial Services, LLC

November 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Lee (Lee), previously associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lee 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 April 12, 2022.

Financial Advisors providing advice to retail investors are required to adhere to the SEC’s Regulation Best Interest (Reg BI). Reg BI applies a ‘best interest’ standard for broker-dealers and their associated people. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts.

There are Recent Customer Complaints with Broker William Baffuto in Firm Equitable Advisors, LLC

November 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Baffuto (Baffuto), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Baffuto 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 $15,412.00 on April 20, 2022.

When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts.

Broker John Zaffarano in Newbridge Securities Corporation Firm Has Customer Complaint

November 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Zaffarano (Zaffarano), currently associated with Newbridge Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Zaffarano 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 $185,000.00 on April 21, 2022.

Negligence, Breach of Fiduciary Duty, Breach of Contract, Negligent Supervision, Violation of Securities Laws, and Fraud.

Broker William Brown in Richard James & Associates, INC. Firm Has Customer Complaint

November 29, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker William Brown (Brown), currently associated with Richard James & Associates, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Brown concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $20,609.34 on April 22, 2022.

Brown was named in a customer complaint that asserted the following causes of action: churning for commissions and quantitative unsuitability (Fraud) Rules 2111 and Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5; unauthorized transactions (Rule 2010); qualitative and quantitative unsuitability (Rule 2111); failure to supervise and negligent supervision (Rule 3010); control person liability; breach of fiduciary contract and implied covenant of good faith and fair dealing; negligent misrepresentation and omissions; standards of commercial honor and principles of trade (Rule 2010).

Broker David Mulford in J.P. Morgan Securities LLC Firm Has Customer Complaint

November 29, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 22, 2022.

Claimant alleges that Financial Advisor (FA) recommended an annuity exchange which was unsuitable for Claimant.

Broker Patrick Cross in Edward Jones Firm Has Customer Complaint

November 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Patrick Cross (Cross), currently associated with Edward Jones, has at least one disclosable event. These events include one customer complaint, alleging that Cross 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 $8,993.00 on April 14, 2022.

The client alleges the financial advisor placed unauthorized trades resulting in capital gain taxes and the inability for the client to continue using a loss carryforward in consequent years.

Broker Yanique Anderson in Citigroup Global Markets INC. Firm Has Customer Complaint

November 29, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 20, 2022.

Customer alleged the product was misrepresented to them as it having a liquidity feature. Upon review, it was determined the liquidity feature was selected but was not offered with the product. Not Securities Related

There are Recent Customer Complaints with Broker Michael Petyak in Firm Calton & Associates, INC.

November 29, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Michael Petyak (Petyak), currently associated with Calton & Associates, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Petyak concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint on April 18, 2022.

Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.