Securities Lawyers Blog

Broker Christopher Jumalon in Navy Federal Investment Services, LLC Firm Has Customer Complaint

June 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Jumalon (Jumalon), previously associated with Navy Federal Investment Services, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Jumalon 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 $11,100.00 on January 25, 2024.

[REDACTED] met with Chris Jumalon, Financial Advisor, on 04/18/2023. His goal was to move 300K into 3 investment strategies. 100K to managed account, 100K to 5-year Fixed Annuity(FA) with Brighthouse and 100K to 3 year FA with Brighthouse. Mr. Jumalon followed through on establishing the 100K managed account but failed to process paperwork for both annuity contracts. The failure to process the paperwork was identified on 1/25/2024. [REDACTED] decided to move forward with the 100K Brighthouse 5 year FA, and paperwork was submitted on 10/16/2023. [REDACTED] decided he did not want to invest the remaining 100K to the second Brighthouse FA and requested funds be moved to Navy Federal Investment Services (NFIS) Digital investor. NFIS waived the trading fee for [REDACTED]. [REDACTED] was compensated $11,110 for the time period the funds were not invested and loss of interest earned.

Broker Michael Rudio in Purshe Kaplan Sterling Investments Firm Has Customer Complaint

June 6, 2025 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Michael Rudio (Rudio), currently employed by Purshe Kaplan Sterling Investments 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), Rudio’s most recent customer complaint alleges that Rudio 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 on January 24, 2024.

Claimants allege that during the time period December 2020 to November 2021, representative recommended unsuitable investments in structured products.

There are Recent Customer Complaints with Broker Eric Ruthman in Firm Purshe Kaplan Sterling Investments

June 6, 2025 | by Staff Attorney

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Eric Ruthman (Ruthman), currently employed by Purshe Kaplan Sterling Investments 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), Ruthman’s most recent customer complaint alleges that Ruthman 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 on January 24, 2024.

Claimants allege that during the time period December 2020 to November 2021, representative recommended unsuitable investments in structured products.

Broker Franz Koch in Wells Fargo Clearing Services, LLC Firm Has Customer Complaint

June 6, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on January 24, 2024.

Client alleges Unauthorized trading

Broker Thomas Cavaliere in LPL Financial LLC Firm Has Customer Complaint

June 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Cavaliere (Cavaliere), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Cavaliere 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 January 25, 2024.

Customers allege representative made unsuitable investment recommendations during the time period 2013-2018.

There are Recent Customer Complaints with Broker Ron Bednarz in Firm Cadaret, Grant & Co., INC.

June 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ron Bednarz (Bednarz), currently associated with Cadaret, Grant & Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Bednarz 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 $3,037,257.60 on January 31, 2024.

Claimant alleges that between March 2010 and March 2016, the customer’s investment portfolio was not diversified and allocated appropriately for someone of her age and [REDACTED] condition in violation of FINRA suitability rule and fiduciary duties owed to customer and that broker permitted an authorized agent of customer to transfer her assets to her bank and another broker dealer without providing proper disclosure to her.

There are Recent Customer Complaints with Broker Steven Mayer in Firm LPL Financial LLC

June 6, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on January 29, 2024.

Customer alleges misrepresentation

There are Recent Customer Complaints with Broker Douglas Fisher in Firm LPL Financial LLC

June 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Douglas Fisher (Fisher), previously associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Fisher 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 $40,000.00 on January 25, 2024.

Customer alleged that advisor did not make proper disclosures when selling REIT in 2014.

There are Recent Customer Complaints with Broker Erik Pinter in Firm LPL Financial LLC

June 6, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on January 24, 2024.

Customer alleges that an investment made in 2014 was unsuitable for the customer’s investment objectives and risk tolerance.

There are Recent Customer Complaints with Broker Richard Acker in Firm Centaurus Financial, INC.

June 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Acker (Acker), currently associated with Centaurus Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Acker 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 January 30, 2024.

The customer alleges that from December 2011 through November 2013, the Registered Representative recommended unsuitable investments and investment strategies in various illiquid alternative investments.