Securities Lawyers Blog

There are Recent Customer Complaints with Broker Allen Soulek in Firm Kovack Securities INC.

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Allen Soulek (Soulek), previously associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Soulek 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 $72,021.78 on July 10, 2023.

Client alleges that RR did not transfer the full amount of shares into her deceased mother’s new account in 2021 as requested due to a stock split, which resulted in an estate battle and additional costs.

Broker Daniel Davis in LPL Financial LLC Firm Has Customer Complaint

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Davis (Davis), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Davis 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 $40,000.00 on July 12, 2023.

The customer alleges that the advisor misrepresented FS Energy & Power at the time of purchase in 2013 to be a safe “bond like” investment

There are Recent Customer Complaints with Broker Timothy Brown in Firm Willow Cove Investment Group, INC.

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Brown (Brown), currently associated with Willow Cove Investment Group, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Brown recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on July 11, 2023.

Breach of contract, negligence, fraud and failure to supervise.

Broker Gregory Sain in Morgan Stanley Firm Has Customer Complaint

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Sain (Sain), currently associated with Morgan Stanley, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Sain 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 $750,000.00 on July 12, 2023.

Claimants alleges, inter alia, That the investments strategy executed in their account was unsuitable -2022- 2023

Broker Peter Clarke in Rockefeller Financial LLC Firm Has Customer Complaint

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Peter Clarke (Clarke), currently associated with Rockefeller Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Clarke 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 $6,300,000.00 on July 11, 2023.

Client alleges that recommendations were too risky.

There are Recent Customer Complaints with Broker John Drabek in Firm Calton & Associates, INC.

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Drabek (Drabek), previously associated with Calton & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Drabek 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 $200,000.00 on July 07, 2023.

Ms. [REDACTED] alleges that on 3/15/2016 and on 12/1/2016, Mr. Drabek made unsuitable recommendations to her and her husband to invest in Griffin Realty Trust and CIM Real Estate Finance Trust respectively.

Broker Matthew Clark in Principal Securities, INC. Firm Has Customer Complaint

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Clark (Clark), currently associated with Principal Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Clark 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 $68,000.00 on July 07, 2023.

The client alleged the financial professional’s lack of due diligence resulted in an unauthorized distribution from his account to a third party without his knowledge or consent.

Broker Ernest Stiba in Lion Street Financial, LLC Firm Has Customer Complaint

August 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ernest Stiba (Stiba), currently associated with Lion Street Financial, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Stiba 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 $200,000.00 on July 10, 2023.

Alternative investment, client alleges alternative investment was an inappropriate recommendation for novice unsophisticated investors

There are Recent Customer Complaints with Broker Robert Knutson in Firm Morgan Stanley

August 27, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Robert Knutson (Knutson), previously associated with Morgan Stanley, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Knutson 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 $44,015,038.00 on July 11, 2023.

Claimants allege, inter alia, Excessive trading with respect to investments – 2013 to 2022

There are Recent Customer Complaints with Broker Yoon Lee in Firm Nylife Securities LLC

August 26, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Yoon Lee (Lee), previously associated with Nylife Securities 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 $19,606.66 on July 13, 2023.

The customers allege they did not electronically sign fixed annuity applications in December 2020.