Securities Lawyers Blog

There are Recent Customer Complaints with Broker Richard Barker in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Barker (Barker), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Barker recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on May 23, 2024.

Customer alleges unauthorized trading of three mutual funds by Financial Advisor on April 10, 2024 when account was enrolled in a managed platform and automatically rebalanced all holdings within account.

There are Recent Customer Complaints with Broker Justin Mundt in Firm Fbl Marketing Services, LLC

May 2, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on May 21, 2024.

Mr. Mundt was named as one of multiple defendants in a lawsuit generally alleging that the defendants made misrepresentations regarding an investment strategy involving the sale of life insurance policies, in 2017 and various dates thereafter. See Item 24 below for more detail.

There are Recent Customer Complaints with Broker Christopher Tolmacs in Firm Triad Advisors, INC.

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Tolmacs (Tolmacs), previously associated with Triad Advisors, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Tolmacs 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 $60,000.00 on May 23, 2024.

Claimant alleges misrepresentation and unsuitable recommendations related to the sale of an alternative investment.

Broker Thomas Grant in Grove Point Investments, LLC Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Grant (Grant), currently associated with Grove Point Investments, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Grant 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 $27,745.89 on May 23, 2024.

Client alleges that Financial Professional failed to notify her of the option to exercise an income rider after reaching the age of 70 1/2, causing her to take only minimum distributions rather than the maximum withdrawal amount during the timeframe of January 2017 through December 2022.

Broker Mary Silvers in Cetera Advisors LLC Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mary Silvers (Silvers), currently associated with Cetera Advisors LLC, has at least one disclosable event. These events include one customer complaint, alleging that Silvers 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 $33,000.00 on May 22, 2024.

The client alleges unsuitable investment, representatives failed to invest all monies into the market.

There are Recent Customer Complaints with Broker James Sophia in Firm Vanderbilt Securities, LLC

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Sophia (Sophia), previously associated with Vanderbilt Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Sophia 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 May 21, 2024.

Client alleged, inter alia, that investment strategy implemented in their account was not in their best interests 2019-2024

Broker Gregory Obrien in PHX Financial, INC. Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Obrien (Obrien), previously associated with PHX Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Obrien 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 $100,000.00 on May 22, 2024.

Client alleged rr May have overconcentrated investments in private equity. RR recently passed away.

Broker Keith Harper in Osaic Wealth, INC. Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Keith Harper (Harper) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Harper was employed by Osaic Wealth, INC. at the time of the activity. If you have been a victim of Harper’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $154,000.00 on May 23, 2024.

Allege that representative encouraged the investment in a private security that turned out to be fraudulent/a ponzi scheme. Clients’ initial investment was in December 2015 in the amount of $25,000. Thereafter, they made two other investments–one in June 2016 for $20,000 and one in November 2021 for $25,000.

Broker Thomas Lundgaard in Kestra Investment Services, LLC Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Lundgaard (Lundgaard), previously associated with Kestra Investment Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lundgaard 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 $275,000.00 on May 22, 2024.

Claimant alleges Lundgaard failed to obtained required documentation for the Talma Arntz and the Gerald L. Arntz Revocable Trust.

Broker Miguel Correa Cestero in Popular Securities, LLC Firm Has Customer Complaint

May 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Miguel Correa Cestero (Correa Cestero), currently associated with Popular Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Correa Cestero 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 $1,000,000.01 on May 21, 2024.

Claimant alleges that Financial Consultant made recommendations to purchase and to hold P.R. Closed-end funds and P.R. Bonds, resulting in an over concentrated and high risk portfolio, which was unsuitable in light of the client’s stated risk tolerance and investment objective.