Securities Lawyers Blog

Broker Richard Stevens in IBN Financial Services, INC. Firm Has Customer Complaint

November 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Stevens (Stevens), currently associated with IBN Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Stevens 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 $4,300,000.00 on July 13, 2022.

Unsuitable product recommendation, insufficient product due diligence

There are Recent Customer Complaints with Broker Lok Kei Kelvin Wong in Firm Td Ameritrade, INC.

November 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lok Kei Kelvin Wong (Wong), previously associated with Td Ameritrade, INC., has at least one disclosable event. These events include one customer complaint, alleging that Wong 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 $200,000.00 on July 26, 2022.

Claimant alleges they were over concentrated in unsuitable and illiquid alternative investments, which resulted in losses

Broker Alfonso Duarte Rioseco in Morgan Stanley Firm Has Customer Complaint

November 11, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on July 21, 2022.

CLIENT ALLEGES THAT THEIR INSTRUCTIONS TO LIQUIDATE THEIR ACCOUNT IN APRIL 2022 WERE NOT FOLLOWED. DAMAGES UNSPECIFIED

There are Recent Customer Complaints with Broker Benjamin Julianel in Firm Valmark Securities, INC.

November 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Benjamin Julianel (Julianel), currently associated with Valmark Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Julianel 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 July 18, 2022.

Client alleges rep fully liquidated his account on 6/21/2022 in direct contravention to his directives

Broker Ernesto Arcos in PFS Investments INC. Firm Has Customer Complaint

November 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ernesto Arcos (Arcos), currently associated with PFS Investments INC., has at least one disclosable event. These events include one customer complaint, alleging that Arcos 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 $30,000.00 on July 18, 2022.

I MISTAKENLY ENTERED THE CLIENT’S BANK ACCOUNT INFORMATION, CAUSING HIS REDEMPTION TO BE TRANSFERED TO ANOTHER INDIVIDUAL’S BANK ACCOUNT.

Broker Jerry Parrish in Dempsey Lord Smith, LLC Firm Has Customer Complaint

November 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jerry Parrish (Parrish), previously associated with Dempsey Lord Smith, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Parrish 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 $3,000,000.00 on July 18, 2022.

UNSUITABLE INVESTMENT

There are Recent Customer Complaints with Broker Justin Gillham in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

November 11, 2025 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Justin Gillham (Gillham), currently employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated has been subject to at least one disclosable event. These events include one customer complaint. According to records kept by The Financial Industry Regulatory Authority (FINRA), Gillham’s most recent customer complaint alleges that Gillham recommended unsuitable investments in structured products and makes allegations concerning misconduct relating to the handling of the customer’s accounts.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,050,000.00 on July 20, 2022.

The customer alleges that a misrepresentation was made regarding the purchase of a structured note in June of 2021.

There are Recent Customer Complaints with Broker Joseph Chu in Firm RBC Capital Markets, LLC

November 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Chu (Chu), currently associated with RBC Capital Markets, LLC, has at least 4 disclosable events. These events include 4 customer complaints, alleging that Chu 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 $460,000.00 on July 19, 2022.

Unsuitable concentration of energy sector securities

There are Recent Customer Complaints with Broker Erik Hanson in Firm Morgan Stanley

November 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Erik Hanson (Hanson), currently associated with Morgan Stanley, has at least one disclosable event. These events include one customer complaint, alleging that Hanson 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 $210,000.00 on July 26, 2022.

CLIENT’S ATTORNEY ALLEGED THAT RECOMMENDATION TO INVEST IN BOND FUND WAS NOT IN THE CLIENT’S BEST INTEREST. 2021

Broker Ryan Shoop in Westminster Financial Securities, INC. Firm Has Customer Complaint

November 11, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $5,000.00 on July 25, 2022.

The client alleges that the account’s gains of +$198,667 were less than certain market indices. Client also alleges churning and failure to supervise.