Securities Lawyers Blog

There are Recent Customer Complaints with Broker James Horst in Firm Osaic Wealth, INC.

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Horst (Horst), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Horst 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 April 28, 2021.

The Claimant alleges that the registered representative recommended an investment that was unsuitable.

Broker Brian Grumbach in Hightower Securities, LLC Firm Has Customer Complaint

February 19, 2026 | by Staff Attorney

Previously financial advisor Brian Grumbach (Grumbach), previously employed by brokerage firm Hightower Securities, LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $250,000.00 on April 27, 2021.

Brian Grumbach is the subject of a FINRA arbitration alleging certain sales practice violations, including a violation of suitability obligations, in connection with a private placement investment made on or around March 2017, currently required to be disclosed pursuant to FINRA guidance.

There are Recent Customer Complaints with Broker Sean Kiltau in Firm Wells Fargo Clearing Services, LLC

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Sean Kiltau (Kiltau), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kiltau 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 $99,000.00 on April 30, 2021.

Claimants allege that, during an unspecified time range, their Financial Advisor made unsuitable recommendations to them.

Broker Frank Giancola in Traderfield Securities INC. Firm Has Customer Complaint

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frank Giancola (Giancola), previously associated with Traderfield Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Giancola 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 $19,510.00 on April 30, 2021.

Clinet clains that he was charged to much commission two years after he confirmed trades

There are Recent Customer Complaints with Broker Michael Momper in Firm Osaic Wealth, INC.

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Momper (Momper), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Momper 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 May 03, 2021.

Clients allege suitability issues in alternative investment purchases

Broker Scott Krizner in LPL Financial LLC Firm Has Customer Complaint

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Krizner (Krizner), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Krizner 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 $33,204.60 on April 30, 2021.

Alleged loss of investment income, unnecessary taxes and penalties.

There are Recent Customer Complaints with Broker Daniel Holman in Firm Cambridge Investment Research, INC.

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Holman (Holman), previously associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Holman 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 $495,000.00 on April 29, 2021.

Clients allege misrepresentation of unsuitable products.

Broker Louis Rodriguez Nader in First Southern, LLC Firm Has Customer Complaint

February 19, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Louis Rodriguez Nader (Rodriguez Nader), currently associated with First Southern, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Rodriguez Nader 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 $440,000.00 on April 28, 2021.

Client alleges over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, negligent supervision (Puerto Rico closed-end funds). Includes request for rescission, punitive damages, interest, costs, fees.

When “Democratizing” Access to Alternatives Becomes a Risk for Main Street Investors Featuring commentary by securities arbitration attorney Adam Gana

February 18, 2026 | by Staff Attorney

For many American retirees, the dream of a secure retirement is built on decades of prudent saving, workplace retirement accounts, and a belief that financial advice from licensed professionals will protect their nest egg. But a recent article in The Guardian highlights a troubling trend that may undermine that belief by expanding access to complex, high-risk financial products to everyday investors—without commensurate investor protections.

Read the full Guardian article here.

The report, titled “I feel like I’m in a financial prison”: Trump Wall Street plan puts ‘mom and pop’ investors at risk, examines how recent regulatory shifts and executive actions are opening the door for “mom and pop” investors to be sold alternative investments traditionally reserved for sophisticated, institutional buyers.

When Private Placements Collapse: What the Inspired Healthcare Capital Bankruptcy Means for Investors – Featuring commentary by securities arbitration attorney Adam Gana

February 18, 2026 | by Staff Attorney

Private placements and alternative investments sold through networks of broker-dealers often appear “stable” on account statements, sometimes persist for years without valuation changes, and can outperform in normal markets. But when economic conditions shift, rising costs and cash-flow stress can expose weaknesses that leave investors with large losses and few real options.

That dynamic is on display in the recent Chapter 11 filing by Inspired Healthcare Capital, a senior housing and assisted living developer that raised funds through a network of independent broker-dealers. The bankruptcy leaves investor noteholders and private placement purchasers on the hook and may spark litigation as investors look for ways to recover losses.

InvestmentNews covered the story here.