Securities Lawyers Blog

Broker Carlos Leston in LPL Financial LLC Firm Has Customer Complaint

March 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carlos Leston (Leston), previously associated with LPL Financial LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory, alleging that Leston recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on September 30, 2024.

LESTON ENGAGED IN DISHONEST OR UNETHICAL BUSINESS PRACTICES \<char_lb_r>\, IN THE SECURITIES BUSINESS. LESTON ENGAGED IN DISHONEST OR UNETHICAL BUSINESS PRACTICES IN THE INSURANCE BUSINESS. LESTON IS THE SUBJECT OF AN ORDER OF A SELF-REGULATORY \<char_lb_r>\, ORGANIZATION EXPELLING HIM FROM A SELF-REGULATORY ORGANIZATION.

Broker Brian Graham in Cetera Advisor Networks LLC Firm Has Customer Complaint

March 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Graham (Graham), previously associated with Cetera Advisor Networks LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory, alleging that Graham recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on September 27, 2024.

Without admitting or denying the findings, Graham consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation of the allegations made in an amended Form U4 submitted by his member firm. The findings stated that the Form U4 disclosed that a customer alleged that Graham made unauthorized ATM withdrawals.

Broker Jeffrey Wright in Garden State Securities, Inc. Firm Has Customer Complaint

March 16, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Jeffrey Wright (Wright), currently associated with Garden State Securities, Inc., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Wright 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 $36,000.00 on September 27, 2024.

Churning, unauthorized trading. Period May 2024 – August 2024.

There are Recent Customer Complaints with Broker Jay Geaslen in Firm Avantax Investment Services, Inc.

March 16, 2025 | by Staff Attorney

Currently financial advisor Jay Geaslen (Geaslen), currently employed by brokerage firm Avantax Investment Services, Inc. has been subject to at least 3 disclosable events. These events include 2 customer complaints, one regulatory. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements. The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on September 30, 2024.

Claimants allege that they were recommended unsuitable investments, including leveraged structed notes and a non-traded REIT, and sustained losses as a result.

There are Recent Customer Complaints with Broker Ted Kirkpatrick in Firm Larson Financial Securities, LLC

March 16, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on September 27, 2024.

Customer alleges they believed they were purchasing a life insurance policy with a long-term care rider in March of 2017. However, after review in 2024, they learned that their policy did not have a long-term care rider. They are now seven years older and do not believe they will be able to afford the higher premiums. They are asking Edward Jones “to take responsibility for this”.

There are Recent Customer Complaints with Broker Donald Hancock in Firm Moloney Securities Co., Inc.

March 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Donald Hancock (Hancock), currently associated with Moloney Securities Co., Inc., has at least 2 disclosable events. These events include one customer complaint, one regulatory, alleging that Hancock 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 $359,325.61 on September 30, 2024.

Suitability/negligence. 2021

Broker Philip Benedict in LPL Financial LLC Firm Has Customer Complaint

March 16, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on September 26, 2024.

Customer alleges representative failed to follow instructions regarding annuitization of his accounts. Time period: 2017-2023.

Broker Andrew Andreotta in Park Avenue Securities LLC Firm Has Customer Complaint

March 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Andrew Andreotta (Andreotta), currently associated with Park Avenue Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Andreotta 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 October 01, 2024.

Claimants allege funds from their securities account were used to pay the premiums on a fixed life insurance policy based on the RRs recommendation. Claimants allege the insurance policy was unsuitable and not represented properly.

There are Recent Customer Complaints with Broker Jason Kimber in Firm J.w. Cole Financial, Inc.

March 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jason Kimber (Kimber), currently associated with J.w. Cole Financial, Inc., has at least 6 disclosable events. These events include 6 customer complaints, alleging that Kimber 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 $1,000,000.00 on October 03, 2024.

Customers allege that the Firm failed to detect an alleged fraud operated by a now deceased representative away from the Firm. The deceased representative, that is the subject of the complaint, was with the Firm for less than two months and Customers’ alleged purchases of the investments at issue occurred at various times while he was affiliated with differing firms. Customers allege that the Registered Representative was involved in the activities that occurred away from the Firm.

There are Recent Customer Complaints with Broker Kuldeep Madan in Firm MML Investors Services, LLC

March 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kuldeep Madan (Madan), currently associated with MML Investors Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Madan 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 $1,000,000.00 on October 02, 2024.

The Plaintiffs allege that, beginning in 2022, the producer acted in concert with the Firm to induce the Plaintiffs into purchasing life insurance policies with death benefits exceeding seventeen million dollars by making misrepresentations regarding the risks and benefits of these policies and the associated premium financing. It is further alleged that this included the opening of an investment portfolio account to serve as collateral for the premium financing, and resulted in financial harm to the Plaintiffs.