Securities Lawyers Blog

There are Recent Customer Complaints with Broker Andrew Murdoch in Firm Somerset Securities, INC.

June 14, 2025 | by Staff Attorney

Currently financial advisor Andrew Murdoch (Murdoch), currently employed by brokerage firm Somerset Securities, INC. 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 $168,000.00 on December 14, 2023.

Alleged unsuitable recommendation to purchase iCap Equities private placement. iCap Equities filed for bankruptcy on 9/12/2023.

Broker Jefferson Dyer in Money Concepts Capital CORP Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jefferson Dyer (Dyer), previously associated with Money Concepts Capital CORP, has at least one disclosable event. These events include one customer complaint, alleging that Dyer 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 $125,000.00 on December 14, 2023.

The customer alleges investments were unsuitable and misrepresented. Statement of Claim includes allegation of violation of Virginia Blue Sky Laws.

There are Recent Customer Complaints with Broker Tricia Zelinka in Firm Morgan Stanley

June 14, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 14, 2023.

Claimant alleged, inter alia, that the investments strategy executed in the client’s account was unsuitable 2021-2023

Broker Genevieve Mar in Berthel, Fisher & Company Financial Services, INC. Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Genevieve Mar (Mar), currently associated with Berthel, Fisher & Company Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mar 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 $99,999.00 on December 18, 2023.

The claimants allege that the investments they purchased from 2012 to 2015 were unsuitable and misrepresented to them by the representative. In addition, the claimants allege the firm failed to supervise the representative’s activities.

Broker Frank Chan in Osaic Wealth, INC. Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frank Chan (Chan), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Chan 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 $1,521,706.00 on December 18, 2023.

Mr. Chan is named as a respondent where the claimants allege that another registered representative recommended investments that were largely concentrated in illiquid, speculative, low-quality, and high commission non-traded real estate investment trusts and Business Development Companies.

Broker Linda Derickson in Founders Financial Securities LLC Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Linda Derickson (Derickson), currently associated with Founders Financial Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Derickson 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 $500,000.00 on December 13, 2023.

Claimant alleges negligent, improper conduct, breach of contract, breach of fiduciary duty, negligence, negligent supervision,\, and violation of applicable laws and industry rules as it relates to the sale of an illiquid product in a retirement account.

There are Recent Customer Complaints with Broker William Sheehan in Firm Dfpg Investments, LLC

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Sheehan (Sheehan), previously associated with Dfpg Investments, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Sheehan 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 December 13, 2023.

Claimant alleges recommendation made was unsuitable

Broker David Wilson in Osaic Institutions, INC. Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Wilson (Wilson), currently associated with Osaic Institutions, INC., has at least one disclosable event. These events include one customer complaint, alleging that Wilson 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 $700,000.00 on December 18, 2023.

Customer alleges registered representative followed trade instructions by an unauthorized party. Activity dates January 2021- March 31, 2021.

Broker Elaine Hartman in Independent Financial Group, LLC Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Elaine Hartman (Hartman), currently associated with Independent Financial Group, LLC, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Hartman 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 $1,618,000.00 on December 14, 2023.

Statement of Claim contains allegations of breach of fiduciary duty, negligence, negligent misrepresentation, negligent supervision, breach of contract, churning, excessive trading, fraud and deceit, and unfair business practices/unfair competition.

Broker John Soukup in LPL Financial LLC Firm Has Customer Complaint

June 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Soukup (Soukup), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Soukup 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 December 14, 2023.

07/20/2022 – 12/07/2023 The client alleges that his advisor purchased AAPL stock without permission. The client alleged that LPL’s back office failed to provide a revised 1099R per the client’s request for a corrected return. Due to the delay, the client incurred $6,000 in attorney’s fees. The client demanded that LPL reimburse his attorney’s fee, or he would report his advisor for unauthorized trading of an equity position.