Securities Lawyers Blog

There are Recent Customer Complaints with Broker Bernard Waters in Firm Herbert J. Sims & Co, INC.

June 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Bernard Waters (Waters), previously associated with Herbert J. Sims & Co, INC., has at least one disclosable event. These events include one customer complaint, alleging that Waters 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 $100,000.00 on November 13, 2023.

Statement of claims alleges that investments were not in the best interest of the customer.

There are Recent Customer Complaints with Broker Steven Noto in Firm Rnr Securities, L.l.c.

June 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Noto (Noto), currently associated with Rnr Securities, L.l.c., has at least one disclosable event. These events include one customer complaint, alleging that Noto 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 $115,000.00 on November 14, 2023.

Claimant asserts various causes of action relating to securities transactions and asserts damages of approximately $115,000. The respondents deny any allegations of wrongdoing and will prove before FINRA that the positions at issue in the claim were never recommended to Claimant, that she never held an account that purchased the positions at issue.

Broker David Lippman in Tcw Funds Distributors LLC Firm Has Customer Complaint

June 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Lippman (Lippman), previously associated with Tcw Funds Distributors LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lippman 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 $3,550,000.00 on November 14, 2023.

On November 28, 2023 a group of ten (10) investors in the TCW Special Purpose Sponsor LLC (‘Sponsor’) filed a complaint in the Delaware Chancery Court seeking to recover $3,550,000 that they invested in the Sponsor. The complaint named, among others, TCW, TCW’s then CEO(David Lippman), TCW’s CFO (Richard Villa) and Joseph Shaposhnik (who was CEO of the Sponsor) as defendants. The complaint asserted claims for breach of contract, breach of the implied covenant of good faith and fair dealing, tortious interference with contract, fraudulent inducement and/or negligent misrepresentation. TCW concluded the case wholly lacked merit and it was settled pursuant to a confidential settlement agreement for what TCW believes was less than the cost of defense. David Lippman never communicated with the plaintiffs in any manner, including the period through the solicitation process ending in the dissolution of the SPAC. Nor did he solicit any of the plaintiffs’ investments. Mr. Lippman was not asked to, and did not, contribute to the settlement or the costs associated with defending the claim.

Broker Charlotte Mcconnell in Raymond James Financial Services, INC. Firm Has Customer Complaint

June 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Charlotte Mcconnell (Mcconnell), currently associated with Raymond James Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mcconnell 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 November 13, 2023.

Claimants allege unsuitable investment recommendations which resulted in losses.

Broker Lawrence Boss in Stifel, Nicolaus & Company, Incorporated Firm Has Customer Complaint

June 29, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lawrence Boss (Boss), previously associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Boss 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 $186,617.46 on November 13, 2023.

Customer alleges that in 2019 registered representative did not advise customer that selling securities would trigger capital gains tax, which amounted to $23,509.80.

Broker William Westcott in LPL Financial LLC Firm Has Customer Complaint

June 29, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on November 10, 2023.

Claimant alleges that during the time period September 2019 to February 2023, representative made unsuitable investment recommendations

There are Recent Customer Complaints with Broker Jennifer Greenleaf in Firm Bankers Life Securities, INC.

June 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jennifer Greenleaf (Greenleaf), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Greenleaf 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 $25,000.00 on November 15, 2023.

In a written complaint received on November 15, 2023, addressed to Bankers Life and Casualty Company (BLC), an affiliate insurance company of Bankers Life Securities, Inc. (BLS), a client alleged she was pressured and rushed throughout the process of purchasing an annuity product. Additionally, the client states she did not understand the policy. The client further alleged an email address was created for her without her knowledge. The client states a DocuSign form was completed that she was not aware of and states “Sadly I feel this appears as forgery”. The client has asked to surrender her policy without incurring a surrender penalty. BLC determined that the terms of the annuity were disclosed to the client and denied these allegations. It was determined that the financial representative initialed, on behalf of the client, an authorized change to the client documentation, as an accommodation. While the product sold to the client was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the annuity came from the sale of securities recommended by a financial representative of the Firm and the allegation of forgery.

Broker Mark Stanley in Osaic Wealth, INC. Firm Has Customer Complaint

June 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Stanley (Stanley), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Stanley 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 $165,466.00 on November 15, 2023.

Clients allege they were induced to surrender a variable annuity and invest the proceeds thereof in a managed account against their best interest.

Broker Young Park in Nylife Securities LLC Firm Has Customer Complaint

June 28, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on November 16, 2023.

The Customer alleges that she was misled when she purchased a variable annuity in January 2021. The customer seeks the return of her principal without penalty.

Broker Michael Nixon in Bankers Life Securities, INC. Firm Has Customer Complaint

June 28, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Nixon (Nixon), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Nixon 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 $25,000.00 on November 15, 2023.

In a written complaint received on November 15, 2023, addressed to Bankers Life and Casualty Company (BLC), an affiliate insurance company of Bankers Life Securities, Inc. (BLS), a client alleged she was pressured and rushed throughout the process of purchasing an annuity product. Additionally, the client states she did not understand the policy. The client further alleged an email address was created for her without her knowledge. The client states a DocuSign form was completed that she was not aware of and states “Sadly I feel this appears as forgery”. The client has asked to surrender her policy without incurring a surrender penalty. BLC determined that the terms of the annuity were disclosed to the client and denied these allegations. The allegation of forgery was not substantiated against the financial representative. While the product sold to the client was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the annuity came from the sale of securities recommended by a financial representative of the Firm and the allegation of forgery.