Securities Lawyers Blog

Broker Robert Tolstoi in Wells Fargo Clearing Services, LLC Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on June 05, 2023.

Claimant alleges that from 2019, the financial advisor made unsuitable investments and exploited the Claimant by unlawfully taking money from her.

Broker Jeffrey Walker in Citizens Securities, INC. Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Walker (Walker), previously associated with Citizens Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Walker 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 $500,000.00 on June 01, 2023.

Clients’ attorney alleges that investment into Colorado Bankers Life Fixed Annuity in March 2018 unnecessarily exposed [REDACTED] to significant risk.

Broker Jeffrey Moravchik in LPL Enterprise, LLC Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on June 08, 2023.

Customer Alleges that the rep did not fully disclose all the facts regarding contingent deferred sales charges and that he was not delivered the contract.

Broker Troy Perkins in Cetera Wealth Services, LLC Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Troy Perkins (Perkins), currently associated with Cetera Wealth Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Perkins 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 $125,000.00 on June 01, 2023.

Claimant alleges the RR recommended various unsuitable non-conventional investments.

Broker Robert Burns in Cetera Wealth Services, LLC Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Burns (Burns), currently associated with Cetera Wealth Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Burns recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on June 06, 2023.

Claimants allege registered representative recommended unsuitable investments.

Broker Michael Fisher in Ameriprise Financial Services, LLC Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Fisher (Fisher), currently associated with Ameriprise Financial Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Fisher recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on June 01, 2023.

Time frame: March 2010 – September 2012 Allegations: Claimants allege that financial advisor engaged in unsuitable and unauthorized trading which resulted in principal losses.

There are Recent Customer Complaints with Broker David Burk in Firm LPL Financial LLC

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Burk (Burk), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Burk 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 $14,000.00 on June 05, 2023.

The client is alleging poor performance for a REIT that he purchased in 2016. CFS denied all liability on the basis that the recommended investment was made through another broker-dealer. Regardless, CFS agreed to pay a settlement of $6,000 as an accommodation to the client. The Rep was not asked to contribute to the settlement.

Broker Frank Chiodi in Osaic Wealth, INC. Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on June 08, 2023.

The Claimant alleges that the recommendation of one investment product did not meet with the customer’s needs and objectives, and that full disclosure regarding the investment and its features was not made.

Broker Kim Schardan in Infinex Investments, INC. Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kim Schardan (Schardan), previously associated with Infinex Investments, INC., has at least one disclosable event. These events include one customer complaint, alleging that Schardan 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 $190,000.00 on June 01, 2023.

Representative sold unsuitable investments for this client’s investor profile.

Broker Jeffrey Cohen in Moloney Securities Co., INC. Firm Has Customer Complaint

August 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Cohen (Cohen), previously associated with Moloney Securities Co., INC., has at least one disclosable event. These events include one regulatory event, alleging that Cohen recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 05, 2023.

Without admitting or denying the findings, Cohen consented to the sanction and to the entry of findings that he declined to produce information or documents requested by FINRA during the course of its investigation that originated from allegations regarding the sale of securities through one of his prior OBAs in an arbitration matter disclosed on his Form U4.