Securities Lawyers Blog

There are Recent Customer Complaints with Broker Joseph Cheddar in Firm Allstate Financial Services, LLC

November 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Cheddar (Cheddar), previously associated with Allstate Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Cheddar 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 $303,800.00 on April 21, 2022.

Customer alleges representative’s recommendation to convert his Traditional IRA to a Roth IRA was not sound and has caused financial pain. The poor recommendation caused a large tax liability, a reduction in death benefit in the variable annuity contract, an increase in premiums for Medicare and a loss of social security income.

Broker Ralph Owen in Nylife 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 Ralph Owen (Owen), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Owen 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 $20,000.00 on April 18, 2022.

Customer alleges he communicated to RR Owen in or around November 2021 that his investment objective priority was safety of principal. He is disappointed that his March 2022 quarterly mutual fund statement shows an 8% market value loss.

There are Recent Customer Complaints with Broker Vincent Annable in Firm Realta Equities, INC.

November 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Vincent Annable (Annable), currently associated with Realta Equities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Annable 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 April 13, 2022.

Claimants allege: negligence, breach of fiduciary duty, breach of contract, negligent supervision, violation of securities laws, and fraud.

Broker Paul Schappert in Equitable Advisors, LLC Firm Has Customer Complaint

November 28, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 23, 2022.

POA on behalf of the client alleges funds within the client’s investment contract purchased in 2013 and a variable annuity purchased in 2020 were unsuitable for her needs and led to a large tax implication.

Broker Amanda Berry in MML Investors Services, LLC Firm Has Customer Complaint

November 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Amanda Berry (Berry), previously associated with MML Investors Services, LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Berry 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 $99,333.18 on April 28, 2022.

The complainants allege that, beginning in 2019, the representative recommended that they invest in a conservative fund that wouldn’t lose money. At the instruction of the representative, they they wrote checks to Icon Financial to purchase this new investment. Since then, the complainants allege that they haven’t been able to access this money, that they had to take a loan out because of this, and that that the representative has stolen their money.

There are Recent Customer Complaints with Broker Timothy Munley in Firm Peak Brokerage Services, LLC

November 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Munley (Munley), currently associated with Peak Brokerage Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Munley 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 $500.00 on April 25, 2022.

The Company received a written customer complaint on 4/25/2022. The customer claimed that Mr. Munley met with him and his wife and made the recommendation to replace an existing product with a new product. In part, the customer alleged that he did not sign anything to effectuate this transaction, but the replacement transaction was processed anyway. Based on the allegations, the Company investigated. During the investigation, Mr. Munley admitted to electronically signing the customer’s name to an application he completed and did so without the customer’s authorization and without allowing the customers the opportunity to review the completed application. Mr. Munley’s actions violated Company policy.

There are Recent Customer Complaints with Broker Jeffrey Graff in Firm Nylife Securities LLC

November 28, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 25, 2022.

Customer’s attorney alleges that his client was misled when he purchased a variable annuity in January 2018. Customer has requested to terminate the annuity without incurring a surrender fee.

There are Recent Customer Complaints with Broker Prasanna Bhatia in Firm Nylife Securities LLC

November 28, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on April 27, 2022.

Customer alleges that in January 2016 and February 2016, she was misled regarding surrender charges when she purchased 2 variable annuities. She also alleges that she incurred a tax liability as a result of the recommendation to make changes to her mutual funds.

Broker Matthew Stahl in Woodbury Financial Services, INC. Firm Has Customer Complaint

November 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Stahl (Stahl), previously associated with Woodbury Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Stahl 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 $90,000.00 on April 25, 2022.

The Claimant alleges, in 2008, her advisors sold her an unsuitable variable universal life insurance policy. She further alleges that her advisors did not properly disclose the cost and fees of the product.

Broker Michael Giovannelli in Spartan Capital Securities, LLC Firm Has Customer Complaint

November 28, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Michael Giovannelli (Giovannelli), previously associated with Spartan Capital Securities, LLC, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Giovannelli 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.

Giovanelli 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).