Securities Lawyers Blog

There are Recent Customer Complaints with Broker Richard Simonitis in Firm LPL Financial LLC

October 16, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on February 07, 2025.

Customer alleges advisor forged signature on account form

There are Recent Customer Complaints with Broker Arthur Mcpherson in Firm World Equity Group, INC.

October 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Arthur Mcpherson (Mcpherson), currently associated with World Equity Group, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mcpherson 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 $250,000.00 on June 02, 2025.

Claimants [REDACTED] suffered substantial investment losses as a result of a negligent market-timing strategy employed by Respondent McPherson, a registered representative of Respondent World Equity Group, Inc. (&amp;amp;quot;WEG&amp;amp;quot;). McPherson liquidated the [REDACTED]&amp;amp;#39; investment portfolio in March 2020 at the very bottom of the &amp;amp;quot;Covid crash&amp;amp;quot;, then bought back in to the market after the market had already rallied and recovered. If McPherson had simply maintained the portfolio, instead of trying to time the market, Claimants would be several hundred thousand dollars better off than they are today.\<char_lb_r>\, If he had simply maintained Claimants&amp;amp;#39; accounts as they were, instead of trying to time the market, Claimants would be several hundred thousand dollars better off than they are today. The charts on the following pages illustrate the impact that the flawed market-timing strategy had on Claimants&amp;amp;#39; wealth.\<char_lb_r>\, Initially the Claimant had filed the arbitration against both the Rep Arthur McPherson and the associated BD World Equity Group, Inc. Subsequently the claimant dismissed all claims against World Equity Group as the related Client/claimant is not a client of World Equity Group.\<char_lb_r>\, World Equity Group was dismissed from this arbitration on August 01, 2025

There are Recent Customer Complaints with Broker Rita Mansour in Firm Mcdonald Partners LLC

October 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rita Mansour (Mansour), currently associated with Mcdonald Partners LLC, has at least one disclosable event. These events include one customer complaint, alleging that Mansour 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 $345,000.00 on May 14, 2025.

Client alleges that RR recommended unsuitable investments, made misrepresentations, and did not accurately disclose all material facts, in connection with the Claimant’s 2013 investment in a private offering of securities and 2020 investment in a high-yield debt instrument.

There are Recent Customer Complaints with Broker Lily Li in Firm Tigress Financial Partners, LLC

October 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lily Li (Li), currently associated with Tigress Financial Partners, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Li 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 $250,000.00 on April 17, 2025.

Client alleges investment is not suitable despite the Firm not soliciting this investment. Client invested from 7/2019 to 10/2019 from which she received many interest payments and benefits.

There are Recent Customer Complaints with Broker Matthew Smith in Firm Arete Wealth Management, LLC

October 16, 2025 | by Staff Attorney

Previously financial advisor Matthew Smith (Smith), previously employed by brokerage firm Arete Wealth Management, LLC has been subject to at least one disclosable event. These events include one customer complaint. 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 $200,000.00 on March 20, 2025.

The claimant invested in a private placement 12/22/2020 and now claims that the investment was unsuitable.

Broker Gregory Richards in Kingswood Capital Partners, LLC Firm Has Customer Complaint

October 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Richards (Richards), currently associated with Kingswood Capital Partners, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Richards 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 $300,000.00 on April 03, 2025.

The customers allege that the Registered Representative recommended and misrepresented an unsuitable, high-risk and illiquid investment and breached his fiduciary duty.

There are Recent Customer Complaints with Broker Larry Tolbert in Firm Lion Street Financial, LLC

October 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Larry Tolbert (Tolbert), currently associated with Lion Street Financial, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Tolbert 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 March 27, 2025.

Larry J. Tolbert was named in a customer complaint that asserted the following causes of action:negligence, professional negligence, violations of law, unsuitable recommendations, negligent supervision, breach of contract, breach of fiduciary duty, and breach of securities industry rules and regulations, including but not limited to Reg BI.

Broker Robert Lott in Cambridge Investment Research, INC. Firm Has Customer Complaint

October 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Lott (Lott), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Lott 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 $45,000.00 on April 15, 2025.

Client alleges RR misrepresented the benefits, terms and conditions of the annuity.

There are Recent Customer Complaints with Broker Ryan Turner in Firm LPL Enterprise, LLC

October 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ryan Turner (Turner), currently associated with LPL Enterprise, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Turner 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 $109,290.47 on July 08, 2025.

Customers allege they suffered losses as a result of unauthorized trading that occurred in January 2025, related to a variable annuity that was purchased in 1986.

There are Recent Customer Complaints with Broker Otto Bohon in Firm Centaurus Financial, INC.

October 15, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Otto Bohon (Bohon), previously associated with Centaurus Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Bohon 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 June 16, 2025.

The customers allege that the Registered Representative recommended unsuitable, complex, high-risk, illiquid investments. No specific dates for the alleged activity were identified in the Statement of Claim.