Securities Lawyers Blog

Broker Reid Drescher in Spencer Clarke LLC Firm Has Customer Complaint

December 3, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on March 21, 2022.

Claimant alleges misrepresentations in 2018 -2019-time frame and therefore wants an ability to return affiliated investors’ money without having to share any profits from investment venture. Claimant also makes frivolous request of restitution of fees paid to Spencer Clarke with no details of contract violation.

Broker Kenneth Blumberg in Stifel, Nicolaus & Company, Incorporated Firm Has Customer Complaint

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Blumberg (Blumberg), previously associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Blumberg 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 $100,000.01 on March 18, 2022.

Claimants allege failure to diversify, unsuitable investments, misrepresentation and claim violation of common law fraud, breach of fiduciary duty, and negligence.

There are Recent Customer Complaints with Broker James Brown in Firm Edward Jones

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Brown (Brown), currently associated with Edward Jones, has at least one disclosable event. These events include one customer complaint, 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 with a damage request of $12,185.00 on March 21, 2022.

The client alleges they were told they could roll the Inherited IRA distribution back within 60 days.

Broker Thomas Povinelli in Osaic Wealth, INC. Firm Has Customer Complaint

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Povinelli (Povinelli), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Povinelli 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 $275,000.00 on March 18, 2022.

The claimants allege that the recommendation of an alternative investment product was not in keeping with their investment objectives and needs, and that the firm and the representative did not research the investment adequately before making the recommendation to the clients.

There are Recent Customer Complaints with Broker Gilbert Singer in Firm LPL Financial LLC

December 3, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on March 18, 2022.

Customer alleged that investment in variable annuity in September 2007 was unsuitable

There are Recent Customer Complaints with Broker Robert Davis in Firm Calton & Associates, INC.

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Davis (Davis), previously associated with Calton & Associates, INC., 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 $14,123.00 on March 22, 2022.

Alleged losses due to ineffective management when, if the account had been given greater attention during the COVID-caused panic and bond market downturn, the loss could have been further mitigated.

There are Recent Customer Complaints with Broker Walter Howard in Firm Independent Financial Group, LLC

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Walter Howard (Howard), previously associated with Independent Financial Group, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Howard 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 $300,000.00 on March 17, 2022.

Customers claim they were overconcentrated in illiquid investments.

Broker Anthony Lofaso in J.w. Cole Financial, INC. Firm Has Customer Complaint

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Lofaso (Lofaso), previously associated with J.w. Cole Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Lofaso 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 $1,000,000.00 on March 21, 2022.

Beneficiary of an insurance policy, that lapsed prior to death of the insured, claims the representative failed to properly advise the beneficiary of her rights and available remedies in getting the policy reinstated.

Broker Bela Gajary in Securian Financial Services, INC. Firm Has Customer Complaint

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Bela Gajary (Gajary), previously associated with Securian Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Gajary 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 $5,000.00 on March 21, 2022.

Client alleges rep misrepresented policy at the time of sale in April 2016.

There are Recent Customer Complaints with Broker Carmine Anzalone in Firm Cetera Wealth Services, LLC

December 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carmine Anzalone (Anzalone), currently associated with Cetera Wealth Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Anzalone 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 $5,000.00 on March 21, 2022.

Client alleges RR told her she could take a withdrawal from her VA without penalty or tax implications if she reinvested the funds in an IRA within 60 days.