Securities Lawyers Blog

There are Recent Customer Complaints with Broker Daniel Kistler in Firm Dempsey Lord Smith, LLC

June 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Kistler (Kistler), currently associated with Dempsey Lord Smith, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kistler 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 $100,001.00 on December 10, 2023.

FAILED TO CONDUCT REASONABLE DUE DILIGENCE \, UNSUITABLE RECOMMENDATION OF HIGH-RISK INVESTMENT

Broker Matthew Cyr in Bankers Life Securities, INC. Firm Has Customer Complaint

June 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Cyr (Cyr), previously associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Cyr 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 $12,615.00 on December 12, 2023.

Bankers Life and Casualty Company (BLC), an affiliated insurance company, received a written complaint from the State of Wisconsin Department of Market Regulation and Enforcement, and provided a copy to Bankers Life Securities, Inc. (BLS) on December 12, 2023. In the complaint, regarding a purchase of a Premium Bonus Index Annuity (PBIA) in February of 2022, and a purchase of mutual funds in a BLS brokerage in April of 2022, the client alleged the guidance she received from the registered representative was not in her best interest, inappropriate for her age and needs, and driven by the representatives desire for commission. Client further alleged the representative never used the term ‘annuity’ and always referred to purchasing a policy. The client has requested to surrender the annuity without penalty, and be reimbursed for damages. BLS reviewed the recommendations to liquidate securities to fund the annuity, as well as to purchase mutual funds, and determined this was based on the client’s needs and in the client’s best interest. However, based on the allegations raised and to resolve any possible misunderstanding that might have occurred, BLC will allow the client to surrender the PBIA without incurring the applicable early surrender penalty. While the BLC annuity is 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 because the allegations related to mutual funds were purchased in the client’s BLS account.

Broker Dustin Javier in Ausdal Financial Partners, INC. Firm Has Customer Complaint

June 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dustin Javier (Javier), previously associated with Ausdal Financial Partners, INC., has at least one disclosable event. These events include one customer complaint, alleging that Javier 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 $21,000.00 on December 11, 2023.

Client alleges unsuitable investment in Northstar Healthcare REIT.

There are Recent Customer Complaints with Broker Benjamin Yin in Firm Nylife Securities LLC

June 22, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 08, 2023.

The customer alleges the variable annuity he purchased in or around December 2021 is not suitable for him because of the fee structure, illiquidity, and restrictions in investment options.

Broker Thomas Pendleton in Nylife Securities LLC Firm Has Customer Complaint

June 22, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 08, 2023.

The customer alleges the variable annuity he purchased in or around December 2021 is not suitable for him because of the fee structure, illiquidity, and restrictions in investment options.

Broker Jorge Menendez in Citigroup Global Markets INC. Firm Has Customer Complaint

June 22, 2025 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Jorge Menendez (Menendez), currently employed by Citigroup Global Markets INC. 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), Menendez’s most recent customer complaint alleges that Menendez 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 $800,000.00 on December 11, 2023.

Claimants alleges that in 2021, Financial Advisor, Jorge Menendez over-concentrated claimants’ portfolio of esoteric Auto-callable Structured Notes.

There are Recent Customer Complaints with Broker Barry Dow in Firm Dempsey Lord Smith, LLC

June 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Barry Dow (Dow), currently associated with Dempsey Lord Smith, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Dow 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 $100,001.00 on December 10, 2023.

FAILED TO CONDUCT REASONABLE DUE DILIGENCE\, UNSUITABLE RECOMMENDATION OF HIGH-RISK INVESTMENT

There are Recent Customer Complaints with Broker Scott Sadar in Firm Pacific Select Distributors, LLC

June 22, 2025 | by Staff Attorney

Currently financial advisor Scott Sadar (Sadar), currently employed by brokerage firm Pacific Select Distributors, LLC has been subject to at least 2 disclosable events. These events include 2 customer complaints. 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 $610,000.00 on December 11, 2023.

Alleged unsuitable recommendation to purchase iCap Equity private placement. iCap Equities filed for bankruptcy on 9/29/2023.

There are Recent Customer Complaints with Broker Jeffrey Glazer in Firm A.g.p. / Alliance Global Partners

June 22, 2025 | by Staff Attorney

Currently financial advisor Jeffrey Glazer (Glazer), currently employed by brokerage firm A.g.p. / Alliance Global Partners 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 $500,000.00 on December 12, 2023.

Client alleges he was invetsed in usnsuaitable private placements and charged excessive commisions.

Broker Mitchell Biernick in Newbridge Securities Corporation Firm Has Customer Complaint

June 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mitchell Biernick (Biernick), previously associated with Newbridge Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Biernick 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 $201,226.63 on December 11, 2023.

Individual claims they had no knowledge that they were in a Variable Annuity for the last 7 Years. They thought it was fixed. Individual wrote a letter and signed off stating they were aware they were entering into a variable annuity and understand the risk. Individual was never a customer of the firm.