Securities Lawyers Blog

Broker Duane Pellman in Intercarolina Financial Services, INC. Firm Has Customer Complaint

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Duane Pellman (Pellman), previously associated with Intercarolina Financial Services, INC., has at least 10 disclosable events. These events include 10 customer complaints, alleging that Pellman 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 $90,000.00 on June 20, 2024.

Claimant alleges Mr. Pellman implemented speculative and risky investment products in the claimants accounts that violated their outlined suitability guidelines and resulted in substantial financial harm. Claimant views Mr. Pellman’s actions and investment recommendations as a blatant violation of Mr. Pellman’s fiduciary duty. Time Period of May 2019 to February 2023.

There are Recent Customer Complaints with Broker Ajay Murthy in Firm Wells Fargo Clearing Services, LLC

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ajay Murthy (Murthy), previously associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Murthy 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 $2,228,442.18 on June 18, 2024.

Claimant alleges her Financial Advisor (FA) misappropriate funds from Claimant’s account for the FA’s own personal gains.

There are Recent Customer Complaints with Broker Colleen Maron in Firm Purshe Kaplan Sterling Investments

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Colleen Maron (Maron), previously associated with Purshe Kaplan Sterling Investments, has at least one disclosable event. These events include one customer complaint, alleging that Maron 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 $2,160,000.00 on June 20, 2024.

Clients Allege misrepresentation, negligence and that the investments: 4 different DSTs were unsuitable.

Broker Ralph Saigh in Westpark Capital, INC. Firm Has Customer Complaint

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ralph Saigh (Saigh), currently associated with Westpark Capital, INC., has at least one disclosable event. These events include one customer complaint, alleging that Saigh 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 $7,200.00 on June 20, 2024.

Client claims he requested non-callable CD to be purchased and alleges the Rep purchased a callable CD. Client is requesting $7200 for the interest he would have earned on the CD had it not been called prior to maturity.

There are Recent Customer Complaints with Broker Robert Devita in Firm Ausdal Financial Partners, INC.

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Devita (Devita), currently associated with Ausdal Financial Partners, INC., has at least one disclosable event. These events include one customer complaint, alleging that Devita 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 $25,000.00 on June 17, 2024.

Violation of il securities law; violation of regulation best interest; breach of fiduciary duty; negligence and negligent supervision

There are Recent Customer Complaints with Broker Benjamin Segal in Firm UBS Financial Services INC.

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Benjamin Segal (Segal), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Segal 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 June 18, 2024.

Time Frame: May 5th, 2022 to July 20th, 2023\, \, What were the allegations against the individual? Counsel representing the trustee alleges that individualized custom services and advise that were represented in the marketing material given to them by the Financial Advisor were not provided causing material financial damages to the client.

There are Recent Customer Complaints with Broker John Purcell in Firm Purshe Kaplan Sterling Investments

April 27, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Purcell (Purcell), currently associated with Purshe Kaplan Sterling Investments, has at least one disclosable event. These events include one customer complaint, alleging that Purcell 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 $2,160,000.00 on June 20, 2024.

Clients Allege misrepresentation, negligence and that the investments: 4 different DSTs were unsuitable.

Broker Alex Paredes Malaga in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

April 26, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alex Paredes Malaga (Paredes Malaga), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Paredes Malaga 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 $750,000.00 on June 26, 2024.

Attorney for the client alleges misrepresentation, unsuitable recommendations and failure to act in the client’s best interest from September 2021 through June 2023.

There are Recent Customer Complaints with Broker Michael Perez in Firm Truist Investment Services, INC.

April 26, 2025 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Michael Perez (Perez), currently employed by Truist Investment Services, 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), Perez’s most recent customer complaint alleges that Perez 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 $28,480.00 on June 25, 2024.

Client alleges misrepresentation of structured product purchased on 4/26/2022.

Broker Travis Braulick in Calton & Associates, INC. Firm Has Customer Complaint

April 26, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Travis Braulick (Braulick), currently associated with Calton & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Braulick 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 $50,000.00 on June 24, 2024.

Bankers Life Securities, Inc. (BLS) received a written complaint from a client on June 24, 2024. In the complaint, the client alleged the recommendation made by a financial representative of the firm to purchase a Premium Bonus Index Annuity (PBIA) with the firm’s insurance affiliate, Bankers Life and Casualty Company (BLC) in August of 2021, was not in the client’s best interest. The client further alleges they lost $50,000.00 in income as the result of the recommendation. This matter is still pending.