Securities Lawyers Blog

Broker Mark Goetz in Network 1 Financial Securities INC. Firm Has Customer Complaint

March 29, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Goetz (Goetz), previously associated with Network 1 Financial Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Goetz 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 $420,000.00 on September 23, 2020.

Fraud, Breach of Fiduciary Duty, Suitability, Failure to Supervise

Broker Charles Mannel in Wells Fargo Clearing Services, LLC Firm Has Customer Complaint

March 29, 2026 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on September 23, 2020.

Plaintiff alleges that the Defendant, who is also successor trustee, failed to properly administer the trust.

Broker Charles Correal in LPL Financial LLC Firm Has Customer Complaint

March 29, 2026 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on September 20, 2020.

Claimant alleges, inter alia, unsuitability with respect to investments – August 2014 to June 2015.

There are Recent Customer Complaints with Broker Donald Quante in Firm Center Street Securities, INC.

March 29, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Donald Quante (Quante), previously associated with Center Street Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Quante 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 $809,116.00 on September 21, 2020.

Customer alleges that representative failed to properly structure and effect assignment of a variable annuity that was purchased while the representative was associated with a prior firm.

There are Recent Customer Complaints with Broker Richard Berger in Firm Arkadios Capital

March 29, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Berger (Berger), previously associated with Arkadios Capital, has at least one disclosable event. These events include one customer complaint, alleging that Berger 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 September 22, 2020.

More than five years post investment and after receiving approximately $30,000 in distributions, Claimant now alleges the $100,000 investment she elected to make in GPB Holdings in 2015 was/is unsuitable.

Broker Alan Berger in Arkadios Capital Firm Has Customer Complaint

March 29, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alan Berger (Berger), currently associated with Arkadios Capital, has at least one disclosable event. These events include one customer complaint, alleging that Berger 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 September 22, 2020.

More than five years post investment and after receiving approximately $30,000 in distributions, Claimant now alleges the $100,000 investment she elected to make in GPB Holdings in 2015 was/is unsuitable.

Broker Shawn Hawke in Paychex Securities Corporation Firm Has Customer Complaint

March 28, 2026 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on September 25, 2020.

Client alleges an insurance policy sold by the RR in 2017 was unsuitable.

Broker Michael Mccauley in PHX Financial, INC. Firm Has Customer Complaint

March 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Mccauley (Mccauley), currently associated with PHX Financial, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Mccauley 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 September 28, 2020.

Suitability. The allegations cover the time frame while i was employed at a previous firm from 04/04/2017 through 07/14/2017.

There are Recent Customer Complaints with Broker Adam Rutstein in Firm Bankers Life Securities, INC.

March 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Rutstein (Rutstein), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Rutstein 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 $15,670.00 on September 25, 2020.

In a written complaint, received by the Firm on September 25, 2020, complainant alleged, based on the recommendation of a Financial Representative of the Firm in November 2019, she exchanged an annuity with an outside institution to open a securities account with the Firm in November of 2019 and, as a result of the recommended exchange, she incurred an unexpected tax liability. Client alleged that the Financial Representative told her the exchange would not result in a taxable event. The client requested to be reimbursed for the tax liability incurred as a result of the exchange. BLS reached a settlement with the client as the result of this complaint.

Broker Richard Lieberfarb in LPL Financial LLC Firm Has Customer Complaint

March 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Lieberfarb (Lieberfarb), previously associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lieberfarb 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 $35,000.00 on September 24, 2020.

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. Reg BI applies when brokers recommend a retail investor engage in securities transaction or an investment strategy involving one or more securities. Reg BI also applies to financial advice concerning the transfer of funds and opening of accounts. 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.