Securities Lawyers Blog

There are Recent Customer Complaints with Broker Howell Ferguson in Firm LPL Financial LLC

January 15, 2026 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on February 08, 2022.

Without admitting or denying the findings, Ferguson consented to the sanctions and to the entry of findings that he forged documents by signing a customer\\u2019s name without the customer\\u2019s prior permission. The findings stated that the forms were to request required minimum distributions from annuities and Ferguson caused those forms to be submitted to the annuity companies. The findings also stated that after FINRA initiated an investigation of Ferguson\\u2019s conduct, he falsely denied signing the customer\\u2019s name in response to FINRA\\u2019s request for information. Subsequently, after FINRA obtained Ferguson\\u2019s emails about the forms, and requested information from him about those emails, Ferguson recanted his false statements and admitted that he had signed the customer\\u2019s name without permission.

Broker Timothy Flynn in Trident Partners Ltd. Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Flynn (Flynn), previously associated with Trident Partners Ltd., has at least 3 disclosable events. These events include 2 customer complaints, one regulatory event, alleging that Flynn recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 23, 2021.

Respondent Flynn failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

There are Recent Customer Complaints with Broker William Athas in Firm Sw Financial

January 15, 2026 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker William Athas (Athas), previously associated with Sw Financial, has been subject to at least 2 disclosable events. These events include one customer complaint, one regulatory event. Several of those complaints against Athas concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on January 18, 2022.

Athas was named a respondent in a FINRA complaint alleging that he willfully violated Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder and violated FINRA Rule 2020 by churning customer accounts. The complaint alleges that Athas controlled the trading in the customer accounts, the volume and frequency of trading in the accounts, decided what securities to buy and sell, the quantity of each transaction, and the timing of each transaction. Athas also determined the commission he would charge for each transaction. The customers routinely followed Athas\\u2019 recommendations. Athas deliberately incurred unreasonably high trading costs in these customers\\u2019 accounts, which made it virtually impossible for the accounts to be profitable. Athas persisted in his trading activity even after being warned about the excessive level of trading and high costs in these customer accounts on several occasions. The complaint also alleges that Athas\\u2019 trading in these accounts was excessive and quantitatively unsuitable for each of the customers based on their investment profiles, as evidenced by the high turnover rates and cost-to-equity ratios, the frequency of the transactions, and the transaction costs incurred. Athas\\u2019 churning and excessive trading caused the customers to pay approximately $1.6 million in commissions and other trading costs and to suffer approximately $1.1 million in losses. Conversely, Athas generated commissions of approximately $1.5 million for himself and his member firms. The complaint further alleges that Athas recommended that the customers engage in short-term, in-and-out trading, often on margin, without having a reasonable basis to recommend that trading strategy to his customers. Athas\\u2019 recommended strategy therefore was not suitable. Athas failed to perform reasonable diligence to understand the cumulative costs of his trading, including commissions, other trading costs, and margin interest. Athas also failed to perform reasonable diligence to understand the impact of these cumulative costs on the value of his customers\\u2019 accounts or the ability of his customers to earn a profit. Athas also failed to understand turnover rates and cost-to-equity ratios, and therefore failed to calculate and consider these metrics when recommending and executing a short-term, in-and-out trading strategy in his customers\\u2019 accounts.

There are Recent Customer Complaints with Broker James Kirchner in Firm Cabot Lodge Securities LLC

January 15, 2026 | by Staff Attorney

Previously financial advisor James Kirchner (Kirchner), previously employed by brokerage firm Cabot Lodge Securities LLC has been subject to at least 5 disclosable events. These events include 4 customer complaints, one regulatory event. 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 final customer complaint on February 23, 2022.

Without admitting or denying the findings, Kirchner consented to the sanctions and to the entry of findings that he falsified a document used in connection with the purchase of a private placement. The findings stated that when Kirchner submitted the customer’s documentation to his member firm for approval, the firm rejected the proposed purchase because the customer had initialed the document incorrectly. Subsequently, Kirchner altered that document with the intention of submitting it to the firm to complete the customer’s private placement purchase. Kirchner used his personal email address to send the original document to a third party, a person Kirchner knew could electronically alter the document for him. This third party received the document from Kirchner, and then altered it by moving the customer\\u2019s initials to the location that the firm required in order to approve the purchase. The third party altered the document at Kirchner’s request and sent it back to Kirchner using Kirchner’s personal email address. Kirchner then used his personal email to send the falsified document back to his firm email account. Kirchner’s use of his personal email account to communicate with the third party violated the firm\\u2019s written policy requiring that all business-related communications be conducted with firm-issued email addresses, and Kirchner did so in order to circumvent his firm’s supervisory review of his conduct. Although Kirchner did not submit the altered document to the firm, it identified his use of his personal email address and the falsification, and terminated Kirchner’s registration with the firm.

Broker David Khezri in Network 1 Financial Securities INC. Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Khezri (Khezri), previously associated with Network 1 Financial Securities INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Khezri recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 23, 2021.

Without admitting or denying the findings, Khezri consented to the sanction and to the entry of findings that he refused to provide documents and information that FINRA requested in connection with its investigation of whether Khezri made unsuitable securities recommendations in customer accounts.

There are Recent Customer Complaints with Broker Christopher Queen in Firm Wells Fargo Clearing Services, LLC

January 15, 2026 | by Staff Attorney

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

FINRA BrokerCheck shows a award / judgment customer complaint on December 07, 2021.

Claimant alleges that due to the Financial Advisor (FA)’s breach of fiduciary duty, Deceased suffered damages; moreover, FA was prohibited from taking on the rule of guardian and was notified of this prohibition but refused to withdraw from his appointed position.

There are Recent Customer Complaints with Broker Andrew Elsoffer in Firm Stifel, Nicolaus & Company, Incorporated

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Andrew Elsoffer (Elsoffer), previously associated with Stifel, Nicolaus & Company, Incorporated, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Elsoffer recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on February 25, 2022.

Without admitting or denying the findings, Elsoffer consented to the sanctions and to the entry of findings that he exercised discretion without written authorization in customer accounts. The findings stated that although the customers understood that Elsoffer was conducting trading in their accounts, none of them provided prior written authorization for him to exercise discretion in their accounts. In addition, Elsoffer\\u2019s member firm did not accept these accounts as discretionary. The findings also stated that Elsoffer assisted his firm customer, who was a close friend but not an immediate family member, with renovating his home at a time when the customer was unable to oversee the renovations himself. He loaned the customer a total of $13,703 to pay to the contractors renovating the home. The customer then reimbursed Elsoffer via three checks totaling $2,703 drawn on his firm account and two checks totaling $11,000 drawn on his bank account. Elsoffer did not disclose or seek prior approval from the firm for the loans. The findings also included that Elsoffer initially provided false information to FINRA. FINRA requested that Elsoffer provide a signed statement addressing his termination from the firm and allegations that he had violated firm policy. In Elsoffer\\u2019s written response, he misrepresented that all check writing was done from the customer\\u2019s firm account. FINRA later asked Elsoffer whether, in addition to the three checks written from the firm account, the customer had written Elsoffer additional checks from any bank accounts and if so, to provide all supporting documentation. In his written response, Elsoffer misrepresented that no other checks existed. Elsoffer later corrected his prior misstatements by producing personal bank statements and two additional cancelled checks drawn on the customer\\u2019s bank account totaling $11,000.

Broker Scott Martinson in Arive Capital Markets Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Scott Martinson (Martinson), previously associated with Arive Capital Markets, has been subject to at least 2 disclosable events. These events include one customer complaint, one regulatory event. Several of those complaints against Martinson concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on December 22, 2021.

Without admitting or denying the findings, Martinson consented to the sanctions and to the entry of findings that he failed to reasonably supervise a former registered representative at his member firm who, while under Martinson\\u2019s heightened supervision, excessively and unsuitably traded in customer accounts. The findings stated that Martinson became aware of red flags that the registered representative was recommending excessive and unsuitable securities transactions but failed to reasonably investigate the red flags or take appropriate action in response to them. Although Martinson discussed the affected accounts with the registered representative, he accepted the registered representative\\u2019s explanations that the customers understood and desired an aggressive trading strategy. When Martinson spoke with the affected customers, he did not ask them whether they understood the amount of commissions they were being charged, whether they wanted aggressive trading as the representative claimed, or whether the trading in their accounts was consistent with their investment objectives. Martinson failed to take other steps to reasonably investigate whether the trading in the customers\\u2019 accounts was suitable for them, such as calculating the turnover rate or cost-to-equity ratio. Had he done so, Martinson would have learned that the trades the registered representative recommended to the affected customers resulted in cost-to-equity ratios exceeding 25 percent, meaning that the accounts would have had to grow by 25 percent just to cover the commissions and other costs charged to the accounts.

There are Recent Customer Complaints with Broker David Sladek in Firm Ameriprise Financial Services, INC.

January 15, 2026 | by Staff Attorney

Previously financial advisor David Sladek (Sladek), previously employed by brokerage firm Ameriprise Financial Services, INC. 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 $263,000.00 on December 07, 2021.

Customer allegations include Violation of Federal Securities Laws, Violation of Minnesota Securities Laws, Violation of the Minnesota Consumer Fraud Act, Uniform Deceptive Trade Practices Act, Fales Statement in Advertisement Act and Unlawful Trade Practices Act, Breach of Contract, Common Law Fraud, Breach of Fiduciary Duty, Negligence and Gross Negligence resulting from the purchase of three Non-Traded REITs in 2014-15.

Broker Virgil Biggs in Cetera Wealth Services, LLC Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Virgil Biggs (Biggs), currently associated with Cetera Wealth Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Biggs 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 $350,000.00 on December 06, 2021.

Claimants alleged the investments they purchased in 2014 and 2015 were not suitable and were misrepresented.