Securities Lawyers Blog

Broker David Magli in Magstar Capital, LLC Firm Has Customer Complaint

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Magli (Magli), currently associated with Magstar Capital, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Magli 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 $6,000,000.00 on December 15, 2021.

Plaintiff alleges that Magstar Capital, LLC and David Magli breached an agreement to provide certain fundraising and financial advisory services. Magstar Capital was engaged by Plaintiff, an early-stage startup company looking to launch a technology platform focused on the travel industry. They approached Magstar Capital seeking assistance with their efforts to raise a seed-round of capital during the height of COVID. After an unsuccessful period of capital raising effort, Magstar Capital terminated its engagement with the Plaintiff. Plaintiff thereafter filed litigation against Magstar Capital and Mr. Magli seeking declaratory relief to void the contract and its obligations thereunder, as well as other relief. Magstar Capital and Mr. Magli deny the allegations in the complaint and are vigorously defending the action.

There are Recent Customer Complaints with Broker David Wong in Firm Integrity Brokerage, LLC

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Wong (Wong), currently associated with Integrity Brokerage, LLC, 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 $489,862.00 on December 14, 2021.

When your financial advisor is providing advice they must adhere to the SEC’s Regulation Best Interest (Reg BI) rule and standard of care. Reg BI replaced the former “suitability” rule and created a ‘best interest’ standard for brokerage firms and registered representatives. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened.

There are Recent Customer Complaints with Broker John Donoso in Firm Newbridge Securities Corporation

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Donoso (Donoso), currently associated with Newbridge Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Donoso 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 $250,000.00 on December 09, 2021.

Claimant alleges that their registered representative recommended unsuitable investments

Broker Corey Schepper in Ameriprise Financial Services, LLC Firm Has Customer Complaint

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Corey Schepper (Schepper), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Schepper 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 December 16, 2021.

Claimant alleges financial advisor recommended unsuitable investments

There are Recent Customer Complaints with Broker Maria Germano Alessi in Firm Henley & Company LLC

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Maria Germano Alessi (Germano Alessi), currently associated with Henley & Company LLC, has at least one disclosable event. These events include one customer complaint, alleging that Germano Alessi 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 $1,000,000.00 on December 16, 2021.

Customer alleges Firm failed to provide reasonable, adequate and meaningful supervision over Firm’s branch office, allowing its registered representative, to carry out a Ponzi scheme to defraud and misappropriate approximately $1,000,000.00.

Broker Pratul Agnihotri in Sw Financial Firm Has Customer Complaint

December 30, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Pratul Agnihotri (Agnihotri), previously associated with Sw Financial, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Agnihotri 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 $83,086.81 on December 10, 2021.

Time Frame: February 2013 through to Present. Alleged Allegations: Churning, Unsuitability, Breach of Fiduciary Contract, Misrepresentation, Unauthorized Trading, Failure to Supervise

Broker Roger Wacker in UBS Financial Services INC. Firm Has Customer Complaint

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Roger Wacker (Wacker), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Wacker 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 $400,000,000.00 on December 14, 2021.

Time frame:December 2015 through September 2020\, Allegations: Claimants allege they received unsuitable and risky investment strategy recommendations which involved using margin debt and “aggregate” credit to support trading including short selling and complex options trading of Tesla.

There are Recent Customer Complaints with Broker Kurt Stein in Firm Quint Capital Corporation

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kurt Stein (Stein), previously associated with Quint Capital Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Stein 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 $300,000.00 on December 16, 2021.

Attorney for the client alleges unsuitable recommendations.

Broker Jeffrey Alexander in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Alexander (Alexander), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Alexander 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 13, 2021.

The customer alleges unsuitable investment recommendations.

Broker Edward Collins in Kestra Investment Services, LLC Firm Has Customer Complaint

December 30, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Edward Collins (Collins), currently associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Collins 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 December 16, 2021.

Client alleges unsuitable investment recommendations in July 2015 and other causes of action.