Securities Lawyers Blog

Broker Richard Pettibone in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Pettibone (Pettibone), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Pettibone recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on December 27, 2021.

The customer alleges unsuitable investment recommendations in October of 2021.

There are Recent Customer Complaints with Broker Christopher Kelts in Firm First Allied Securities, INC.

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Kelts (Kelts), previously associated with First Allied Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Kelts 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 $30,001.00 on December 20, 2021.

Claimant alleges they were recommended unsuitable investments.

There are Recent Customer Complaints with Broker Michael Brown in Firm National Securities Corporation

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Brown (Brown), previously associated with National Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Brown 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 $50,000.00 on December 23, 2021.

Breach of fiduciary duty. Negligence.

There are Recent Customer Complaints with Broker Eric Weschke in Firm Kalos Capital, INC.

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Weschke (Weschke), previously associated with Kalos Capital, INC., has at least one disclosable event. These events include one customer complaint, alleging that Weschke 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 $535,000.00 on December 26, 2021.

Negligence, breach of fiduciary, breach of contract, fraud, breach of securities regulatory requirements, and failure to supervise

There are Recent Customer Complaints with Broker Dean Jaeger in Firm Raymond James Financial Services, INC.

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dean Jaeger (Jaeger), currently associated with Raymond James Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Jaeger 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 $30,000.00 on December 22, 2021.

Client alleged advisor did not manage account in their best interest. Allegation Activity Dates: 10/29/2019 – 12/22/2021.

There are Recent Customer Complaints with Broker Todd Sivak in Firm LPL Financial LLC

December 29, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 22, 2021.

The complainant alleges that beginning on or around March 2019, their registered representative recommended that they invest all their Roth IRA into one mutual fund, which resulted in a 55% loss. The complainant further states their registered representative knew that they did not want to take any unnecessary risks with their investing.

Broker Mark Epps in Ausdal Financial Partners, INC. Firm Has Customer Complaint

December 29, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 17, 2021.

Violations of FINRA rules, Negligence, Breach of Fiduciary Duty

Broker Herman Kahn in Kestra Investment Services, LLC Firm Has Customer Complaint

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Herman Kahn (Kahn), previously associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kahn 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 $110,000.00 on December 29, 2021.

Claim alleges that the FP and firm failed to disclose the risky nature of 2 investments and that the transactions were not suitable based on investment objectives and risk tolerance.

Broker Willard Pugh in Kestra Investment Services, LLC Firm Has Customer Complaint

December 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Willard Pugh (Pugh), currently associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Pugh 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 $100,000.01 on December 22, 2021.

THE MATTER IS REPORTED BASED ON THE INFORMATION FILED BY PRIOR EMPLOYING FIRM: DAWSON JAMES SECURITIES, INC. (“DJS”). FOLLOWING IS THE EXPLANATORY SUMMARY FILED BY DJS WITH RESPECT TO THE REPORTED MATTER: “CLAIMANTS ALLEGE THAT RESPONDENT DID NOT CONDUCT A REASONABLE DUE DILIGENCE ON HIT, THAT THE RISKS OF THIS INVESTMENT WAS NOT DISCLOSED TO THEM, AND THAT THIS INVESTMENT WAS UNSUITABLE FOR THEM BECAUSE THE RISKS WERE NOT DISCLOSED TO THEM AND THIS INVESTMENT RECOMMENDATION WAS INCONSISTENT WITH THEIR INVESTMENT OBJECTIVES AND RISK TOLERANCE”

Broker Tom Wallack in J.P. Morgan Securities LLC Firm Has Customer Complaint

December 29, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 17, 2021.

Time Frame: June 14, 2019 to December 15, 2021\, The client’s son in law who has authorization alleges the fee structure was not suitable for an 84 years old, whose husband is recently deceased and has approximately less than $2 million in fixed income.