Securities Lawyers Blog

There are Recent Customer Complaints with Broker Rita Pollard in Firm Bankers Life Securities, INC.

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rita Pollard (Pollard), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Pollard 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 $6,177.42 on June 03, 2024.

Bankers Life Securities, Inc. (BLS) received a written email complaint from a client on June 3, 2024. The firm’s review show that the client made three investments; a liquidation of retirement funds to purchase a Guaranteed Lifetime Income Annuity (GLIA), issued by the firm’s insurance affiliate BLC, a transfer of funds from a bank certificate of deposit (CD) to purchase a Flexible Premium Bonus Index Annuity (FPBIA) issued by BLC, and a rollover of retirement funds to accounts with BLS and Bankers Life Advisory Services, Inc. (BLAS), the firm’s Registered Investment Advisor (RIA) affiliate. In the complaint, the client requested a full return of deposited funds. The client alleged the annuities issued by BLC lacked the same liquidity as their CD, they were not informed of the surrender penalty or withdrawal limits and the purchase was not in their best interest. Additionally, the client alleged that the recommendation to roll the client’s pension funds into a managed BLAS Roth IRA account resulted in higher Medicare premiums. Both BLC and BLS’ review determined the transactions were suitable and all material terms were disclosed to the client. As an accommodation, BLC is permitting the client to surrender one annuity penalty free. 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 one of the annuities came from the liquidation of securities recommended by a financial representative of the firm, and the client made allegations related to a securities account held with BLAS.

Broker Tyler Schultz in LPL Financial LLC Firm Has Customer Complaint

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tyler Schultz (Schultz), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schultz 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 $46,862.57 on May 28, 2024.

Claimant alleges representative recommended unsuitable investments in her 401(k) plan account during the time period 2021-2022.

There are Recent Customer Complaints with Broker Randall Duggan in Firm Moloney Securities Co., INC.

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Randall Duggan (Duggan), currently associated with Moloney Securities Co., INC., has at least 4 disclosable events. These events include 4 customer complaints, alleging that Duggan 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 $475,000.00 on May 29, 2024.

Suitability/negligence. 2020-2021

There are Recent Customer Complaints with Broker Aaron Bell in Firm Northwestern Mutual Investment Services, LLC

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Aaron Bell (Bell), currently associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bell 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 $124,000.00 on June 03, 2024.

FINRA arbitration alleging representative recommended a speculative stock and under management of representative and NMIS the customer’s account went from being relatively diversified to highly concentrated in just two speculative stocks and sustained financial losses.

There are Recent Customer Complaints with Broker Eric Johnson in Firm Truist Investment Services, INC.

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Johnson (Johnson), currently associated with Truist Investment Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Johnson 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 $8,000.00 on June 03, 2024.

Customer emailed instructions to invest funds. Advisor did not act upon emailed trade instructions. Client indicated the failure to invest the funds as requested resulted in $8,000 loss.

Broker John Kauzlarich in Park Avenue Securities LLC Firm Has Customer Complaint

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Kauzlarich (Kauzlarich), currently associated with Park Avenue Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Kauzlarich 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 $462,000.00 on May 24, 2024.

In March 2022, client alleges the information he received was inaccurate when he informed the RR he wanted to move his account investments to cash but was told it could not be done since the line of credit that was collateralized with his account did not permit his account to hold cash. Client further alleges that he intructed the RR to change his risk model to a more conservative model and it was never processed.

Broker Chad Faulkenberry in Charles Schwab & Co., INC. Firm Has Customer Complaint

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Chad Faulkenberry (Faulkenberry), previously associated with Charles Schwab & Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Faulkenberry 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 $26,008.00 on May 29, 2024.

The client alleges starting in January 2022, the representative failed to provide any advice or recommendations which caused her to lose money.

Broker Dennis Herrera in Cetera Investment Services LLC Firm Has Customer Complaint

May 1, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on May 30, 2024.

Claimant alleges unsuitable investment recommendations which resulted in losses.

Broker Shane Appelbaum in Herbert J. Sims & Co, INC. Firm Has Customer Complaint

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Shane Appelbaum (Appelbaum), currently associated with Herbert J. Sims & Co, INC., has at least one disclosable event. These events include one customer complaint, alleging that Appelbaum 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 $3,000,000.00 on May 28, 2024.

An unclear claim that certain investments did not perform. Focused primarily on investments made with the clients former broker that is now retired.\<char_lb_r>\, 2010 – 2020

Broker Samuel Barber in Lifemark Securities Corp. Firm Has Customer Complaint

May 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Samuel Barber (Barber), currently associated with Lifemark Securities Corp., has at least one disclosable event. These events include one customer complaint, alleging that Barber 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 $80,000.00 on May 28, 2024.

Allegations pertain to an investment in an alternative product intended to be a small component of a larger diversified portfolio. Investment was purchased in 09/2020. Unfortunately, the company that sold the investment has since filed Chapter 11 bankruptcy. Allegations include failure to perform due diligence, material misrepresentation, negligence, and an unsuitable recommendation.