Securities Lawyers Blog

Broker Nicholas Schlagheck in Cape Securities INC. Firm Has Customer Complaint

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicholas Schlagheck (Schlagheck), currently associated with Cape Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Schlagheck 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 $15,696.80 on May 15, 2025.

Customer claims that the investment in Eagle Point Credit Interval Fund was misrepresented and unsuitable due to its risk. Additionally, the customer claims that she never met with or spoke to Nicholas Schlagheck and that all dealings were with John Schlagheck, Nicholas’ father, who is barred from the industry.

Broker Skylar Winkles in Morgan Stanley Firm Has Customer Complaint

July 24, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on May 15, 2025.

Client alleges, inter alia, breach of fiduciary duty with respect to recommendation to enter stop-loss order 2025

There are Recent Customer Complaints with Broker Joao Pinto in Firm Spartan Capital Securities, LLC

July 24, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Joao Pinto (Pinto), currently associated with Spartan Capital Securities, LLC, has been subject to at least 2 disclosable events. These events include one customer complaint, one regulatory event. Several of those complaints against Pinto concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $931,402.00 on May 14, 2025.

Allegation of Unsuitability investments, excessive trading, misrepresentation, failure to supervise

There are Recent Customer Complaints with Broker Brian Hoffman in Firm Janney Montgomery Scott LLC

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Hoffman (Hoffman), previously associated with Janney Montgomery Scott LLC, has at least one disclosable event. These events include one customer complaint, alleging that Hoffman 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 $784,447.27 on May 14, 2025.

Client claims that Financial Advisor failed to execute trades to implement her financial plan resulting in lack of growth in her accounts. Allegation Time Period: June 2022 to November 2023.

There are Recent Customer Complaints with Broker Chad Groseclose in Firm Charles Schwab & Co., INC.

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Chad Groseclose (Groseclose), currently associated with Charles Schwab & Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Groseclose 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 $72,298.00 on May 15, 2025.

In May of 2024, the client alleges the representative provided poor advice regarding the partial surrender of variable annuities held outside of Schwab and created an unexpected tax liability.

Broker Raymond Brown in Northwestern Mutual Investment Services, LLC Firm Has Customer Complaint

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Raymond Brown (Brown), previously associated with Northwestern Mutual Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Brown 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 $121,499.00 on May 15, 2025.

Customers allege that in or around September 2023, the Representative misrepresented life insurance policies, including a variable universal life policy, as flexible, liquid investment vehicles with tax-free growth and that any money paid in could be accessed. Customers allege the Representative did not disclose the insurance nature of the products; costs; liquidity limitations; and the restrictions and consequences of altering or stopping contributions (premium payments).

There are Recent Customer Complaints with Broker Alex Ng in Firm PHX Financial, INC.

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alex Ng (Ng), currently associated with PHX Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ng 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 May 16, 2025.

Client alleges misrepresentation, negligent behavior and breach of fiduciary duties.

There are Recent Customer Complaints with Broker Jesse Krapf in Firm Spartan Capital Securities, LLC

July 24, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Jesse Krapf (Krapf), previously associated with Spartan Capital Securities, LLC, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Krapf concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $931,402.00 on May 14, 2025.

Allegations of Unsuitability, excessive trading, misrepresentation, failure to supervise

There are Recent Customer Complaints with Broker Jens Shroyer in Firm Performance Trust Capital Partners, LLC

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jens Shroyer (Shroyer), currently associated with Performance Trust Capital Partners, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Shroyer 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 $55,775,000.00 on May 14, 2025.

The individual is a named party in an arbitration proceeding initiated by an institutional investor. The complaint alleges claims for common law breaches – namely stemming from alleged unsuitable recommendations during the time the account was active, approximately 2015 – 2023.

There are Recent Customer Complaints with Broker Michael Lickiss in Firm Purshe Kaplan Sterling Investments

July 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Lickiss (Lickiss), previously associated with Purshe Kaplan Sterling Investments, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Lickiss 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 $350,000.00 on May 15, 2025.

Debt instruments/Fictitious notes