Securities Lawyers Blog

There are Recent Customer Complaints with Broker Daniel Lerner in Firm David Lerner Associates, INC.

August 24, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on May 20, 2025.

Without admitting or denying the findings, Lerner consented to the sanctions and to the entry of findings that he recommended that a customer invest in an illiquid, proprietary limited partnership without having a reasonable basis to believe that the investment was suitable for the customer based on her investment profile. The findings stated that the customer was a 92-year-old retiree when Lerner recommended that she purchase $60,000 of the limited partnership. Prior to this recommendation, the customer’s risk tolerance was listed as moderate on her investment profile. As a result of Lerner’s recommendation, the customer invested approximately 25 percent of her liquid net worth in the limited partnership.

There are Recent Customer Complaints with Broker Kenneth Goldhoff in Firm UBS Financial Services INC.

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Goldhoff (Goldhoff), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Goldhoff 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 $3,233,690.00 on May 23, 2025.

Time frame: November 2013 to December 2017\, Allegations: Claimant’s Counsel alleges that investments made in municipal bonds were more appropriate for individuals in a high tax bracket and not the claimant who was in a low tax bracket and that the bonds were likely not suitable nor in her best interest. Counsel further alleges that transactions were allowed in the client’s Trust assets without proper authorization.

There are Recent Customer Complaints with Broker Douglas Campbell in Firm LPL Financial LLC

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Douglas Campbell (Campbell), previously associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Campbell 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 $250,000.00 on June 03, 2025.

Client alleges investment adviser representative was negligent and breached his fiduciary duty in 2019-2020 after purchasing a position that subsequently declined in value.

Broker William Hancock in Osaic Wealth, INC. Firm Has Customer Complaint

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Hancock (Hancock), previously associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Hancock 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 $180,000.00 on May 28, 2025.

Claimants allege the unsuitable recommendation and sale of variable annuities.

There are Recent Customer Complaints with Broker Sanford Simmons in Firm Saxony Securities, INC.

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Sanford Simmons (Simmons), previously associated with Saxony Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Simmons 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 $1,000,000.00 on June 17, 2025.

Claimants allege that Sanford Simmons, in his capacity as a registered representative, made unsuitable, high-risk recommendations for their 1031 exchange investment needs causing .

There are Recent Customer Complaints with Broker Phillip Anderson in Firm Kingswood Capital Partners, LLC

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Phillip Anderson (Anderson), previously associated with Kingswood Capital Partners, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Anderson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 13, 2025.

Without admitting or denying the findings, Anderson consented to the sanctions and to the entry of findings that he made recommendations to senior retail customers that were unsuitable based on the customers’ investment profiles by recommending that that they invest in speculative, unrated corporate bonds. The findings stated that Anderson’s recommendations to the customers resulted in at least 96 percent and 35 percent of their respective net worth, not including primary residence, being invested in the bonds. Anderson earned a total of $8,280 in commissions in connection with these recommendations. A customer and a beneficiary of the other customer each brought and settled an arbitration against Anderson’s member firm relating to the bond investments.

Broker Nora Mahoney in Carleton Mckenna Advisors, LLC Firm Has Customer Complaint

August 23, 2025 | by Staff Attorney

Currently financial advisor Nora Mahoney (Mahoney), currently employed by brokerage firm Carleton Mckenna Advisors, 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 pending customer complaint with a damage request of $750,000.00 on June 25, 2025.

Client alleges that the firm failed to conduct reasonable due diligence before recommending a private placement to him. Client claims that he invested in this private placement in September 2023 and in June 2024 and seeks damages of $750,000 and other relief.

There are Recent Customer Complaints with Broker Matthew Vance in Firm Moloney Securities Co., INC.

August 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Vance (Vance), previously associated with Moloney Securities Co., INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Vance 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 $500,000.00 on June 24, 2025.

Suitability/negligence. 2019-2020

Broker Andrew Dougherty in Voya Financial Advisors, INC. Firm Has Customer Complaint

August 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Andrew Dougherty (Dougherty), previously associated with Voya Financial Advisors, INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Dougherty 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 $306,830.24 on June 25, 2025.

Client alleges representative’s sales of insurance and advisory products was unsuitable and not aligned with client’s needs or goals.

There are Recent Customer Complaints with Broker Christopher Clackson in Firm RBC Capital Markets, LLC

August 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Clackson (Clackson), currently associated with RBC Capital Markets, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Clackson 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 $450,000.00 on June 23, 2025.

The client alleged the variable annuity purchased in March 2024 was misrepresented.