Securities Lawyers Blog

There are Recent Customer Complaints with Broker Theodore Franse in Firm Ni Advisors

June 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Theodore Franse (Franse), currently associated with Ni Advisors, has at least one disclosable event. These events include one customer complaint, alleging that Franse 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 $13,940.75 on December 20, 2023.

According to Independent Financial Group, client alleges investment was not suitable and was not in line with client’s stated investment objectives and risk tolerance, and no investment in\<char_lb_r>\, Northstar located for [REDACTED].

There are Recent Customer Complaints with Broker John Marcheso in Firm Centaurus Financial, INC.

June 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Marcheso (Marcheso), currently associated with Centaurus Financial, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Marcheso recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on December 19, 2023.

The customer alleges that the Registered Representative recommended unsuitable investments and investment strategies in various illiquid alternative investments. No specific dates for the alleged activity were identified in the Statement of Claim.

Broker William Daniel in Grove Point Investments, LLC Firm Has Customer Complaint

June 12, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Daniel (Daniel), previously associated with Grove Point Investments, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Daniel 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 19, 2023.

The Statement of Claim was filed on behalf of nine claimants against Grove Point Investments, LLC involving the same investment – NorthStar Healthcare Income REIT. Claimants allege unsuitability, overconcentration, breach of fiduciary duty and negligence. Activity occurred March 24, 2014 to February 12, 2016.

Broker Kevin Forbush in Larson Financial Securities, LLC Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Forbush (Forbush), currently associated with Larson Financial Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Forbush 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 $7,374,258.61 on December 27, 2023.

From 2016 to 2023, the Customers implemented various insurance policies and invested in a limited partnership pursuant to the Registered Representative’s advice. Customer alleges negligence, unsuitability, legal malpractice and breach of fiduciary duty.

There are Recent Customer Complaints with Broker Brandon Singer in Firm Osaic Wealth, INC.

June 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brandon Singer (Singer), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Singer 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 December 21, 2023.

As stated by Transamerica Financial Advisors, Inc., clients allege funds were mishandled by over concentrating them in an illiquid, high commission product.

Broker Alex Forschner in Maxim Group LLC Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alex Forschner (Forschner), previously associated with Maxim Group LLC, has at least one disclosable event. These events include one customer complaint, alleging that Forschner 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 $2,000,000.00 on December 21, 2023.

Claimant alleges that from December 13, 2012 through December 9, 2019, Mr. Forschner engaged in violations of Michigan Uniform Securities Act, misrepresentation and omission of material facts, use of manipulative or deceptive sales tactics, failure to supervise. Breach of fiduciary duty and breach of contract.

Broker Richard Torres in Cambridge Investment Research, INC. Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Torres (Torres), previously associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Torres 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 $50,000.00 on December 22, 2023.

Complainant alleges misstated account profile information and misrepresentation of certain features of the product during sales process on or around February 2016.

Broker Glynnis Reinhart in Purshe Kaplan Sterling Investments Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 21, 2023.

Claimant alleges REIT purchased was unsuitable

Broker Michael Mandarino in G. A. Repple & Company Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Mandarino (Mandarino), currently associated with G. A. Repple & Company, has at least one disclosable event. These events include one customer complaint, alleging that Mandarino 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 $100,000.00 on December 21, 2023.

Client, through legal representation, claimed $100,000 in damages resulting from the purchase of several GWG L bonds which resulted in a total loss of principal.

Broker Mary Joanne Petretto in Innovation Partners LLC Firm Has Customer Complaint

June 11, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on December 26, 2023.

Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. 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. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest.