Calton & Associates

Broker Daryl Calton in Calton & Associates, INC. Firm Has Customer Complaint

August 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daryl Calton (Calton), previously associated with Calton & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Calton 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 March 10, 2025.

The current trustee of the trust alleged that between 2000 and 2017 Mr. Daryl Calton made unsuitable recommendations to his parents involving certain REIT and alternative investments.

There are Recent Customer Complaints with Broker Kathie Foreman in Firm Calton & Associates, INC.

June 14, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint with a damage request of $50,000.00 on December 14, 2023.

Arbitration Statement of Claim alleged misrepresentation and negligence in connection with the investments purchased in 2011 and 2012. Claimant further alleges the BD supervision of the claimant’s account was inadequate.

Broker Daryl Calton in Calton & Associates, INC. Firm Has Customer Complaint

May 25, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daryl Calton (Calton), previously associated with Calton & Associates, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Calton 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 $50,000.01 on March 22, 2024.

Client alleges Mr. Calton made unsuitable investments.

Broker Travis Braulick in Calton & Associates, INC. Firm Has Customer Complaint

April 26, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Travis Braulick (Braulick), currently associated with Calton & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Braulick 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 June 24, 2024.

Bankers Life Securities, Inc. (BLS) received a written complaint from a client on June 24, 2024. In the complaint, the client alleged the recommendation made by a financial representative of the firm to purchase a Premium Bonus Index Annuity (PBIA) with the firm’s insurance affiliate, Bankers Life and Casualty Company (BLC) in August of 2021, was not in the client’s best interest. The client further alleges they lost $50,000.00 in income as the result of the recommendation. This matter is still pending.

There are Recent Customer Complaints with Broker David Cross in Firm Calton & Associates, Inc.

March 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Cross (Cross), previously associated with Calton & Associates, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Cross 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 $16,835.00 on September 10, 2024.

Client was unhappy with the performance of her accounts.

Chris Kubiak Arrested For Misappropriating Client Funds – Investor Recovery

May 28, 2019 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating multiple claims that advisor Chris Kubiak (Kubiak) has engaged in a misappropriation scheme. Kubiak, formerly registered with Calton & Associates, Inc. (Calton) and American Global Wealth Management, Inc. (American Global Wealth) operating out of McDonough, Georgia and Brookfield, Wisconsin respectively has been accused by customers and the Department of Justice (DOJ) of engaging in securities fraud and misappropriating funds.

In October 2018 FINRA barred Kubiak after he consented to the sanction and to the entry of findings that he converted customer funds. FINRA found that four customers, including three seniors, gave funds to Kubiak totaling approximately $270,000 to invest on their behalf. FINRA found that instead Kubiak deposited the funds into his personal bank account and then used them for his own personal use such as gambling and to paying for personal medical bills.

In March 2019 the DOJ announced charges against Kubiak include seven counts of wire and mail fraud concerning Kubiak’s scheme where he arranged to make withdrawals or to liquidate the investment accounts of his elderly clients. The DOJ indictment identifies a total of six clients from whom he is alleged to have wrongfully misappropriated approximately $370,000 over a five year period.

Advisor Mark Lamkin Subject to Complaints Over REIT Investments

May 8, 2019 | by Staff Attorney

Advisor Mark Lamkin (Lamkin), currently employed by Calton & Associates, Inc. (Calton & Associates) has been subject to at least three customer complaints and two terminations for cause. According to a BrokerCheck report some of the customer complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In August 2018 Lamkin’s then employer, LPL Financial LLC (LPL) terminated Lamkin claiming that advisor received and/or benefited from loans from firm customers, failed to disclose and inadequately disclosed outside business activities, and personally engaged in and solicited other investors to participate in private investments without obtaining Firm approval.

In January 2019 a customer filed a complaint alleging that Lamkin violated the securities laws by making misrepresentations concerning an annuity product. The claim is currently pending.

In April 2019 another customer filed a complaint alleging that Lamkin violated the securities laws by making misrepresentations and an unsuitable investment in a REIT security. The claim is currently pending.

Nicolas Toadvine Subject to Customer Complaints Over REITs and Real Estate Investments

July 13, 2017 | by Staff Attorney

Calton & Associates, Inc. (Calton) broker Nicolas Toadvine (Toadvine) has been subject to numerous complaints over non-traded REITs and real estate related investments. According BrokerCheck Lynn has been subject to 12 customer complaints in total and declared bankruptcy in 2013. The securities lawyers of Gana Weinstein LLP are investigating the customer complaints against Toadvine.

Many of the complaints concern private placements and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs).

All of these investments come with high costs and historically have underperformed even safe benchmarks, like U.S. treasury bonds. For example, products like oil and gas partnerships, REITs, and other alternative investments are only appropriate for a narrow band of investors under certain conditions due to the high costs, illiquidity, and huge redemption charges of the products, if they can be redeemed. However, due to the high commissions brokers earn on these products they sell them to investors who cannot profit from them. Further, investor often fail to understand that they have lost money until many years after agreeing to the investment. In sum, for all of their costs and risks, investors in these programs are in no way additionally compensated for the loss of liquidity, risks, or cost.

Broker Robert Schultz Subject to Multiple Customer Complaints

May 29, 2017 | by Staff Attorney

The securities lawyers of Gana Weinstein LLP are investigating customer complaints filed with The Financial Industry Regulatory Authority’s (FINRA) against broker Robert Schultz (Schultz). According to BrokerCheck records, Schultz has been subject to four disclosures including four customer complaints. The customer complaints against Wolfe allege a number of securities law violations including that the broker made unsuitable investments, breach of fiduciary duty, misrepresentations, negligence, and omissions of material information among other claims.

The most recent customer complaint was filed in October 2016 claims $95,000 in damages and alleges suitability misconduct, misrepresentations, and breach of fiduciary duty from 2005 through 2010. The claim is currently pending.

Brokers have a responsibility treat investors fairly which includes obligations such as making only suitable investments for the client. In order to make a suitable recommendation the broker must meet certain requirements. First, there must be reasonable basis for the recommendation the product or security based upon the broker’s investigation and due diligence into the investment’s properties including its benefits, risks, tax consequences, and other relevant factors. Second, the broker then must match the investment as being appropriate for the customer’s specific investment needs and objectives such as the client’s retirement status, long or short term goals, age, disability, income needs, or any other relevant factor.

Cary Olson Sanctioned by FINRA Over Non-Traditional ETF Sales

March 3, 2015 | by Staff Attorney

The Financial Industry Regulatory Authority (FINRA) sanctioned broker Cary Olson (Olson) concerning allegations that Olson made recommendations in non-traditional exchange-traded funds (ETFs) to several customers without having reasonable grounds to believe his recommendations were suitable in relation to the holding periods for the ETFs. FINRA also alleged that Olson permitted the execution of options transactions in the account of a customer who was not approved for options activity.

Olson entered the securities industry in 1993. In June 2006, Olson became registered at FlNRA firm Great Circle Financial until July 2013. From June 2013 until November 2013, Olson was registered with GBS Financial Corp. Finally, Olson is currently associated with Calton & Associates. This disciplinary matter is not the first time FINRA has sanctioned Olson. In January 2006, Olson consented to the entry of findings by NASD that he exercised discretion in customer accounts without obtaining written authorization. Olson was suspended for one month and fined $5,000.

FINRA alleged that from October 2010 through October 2012, Olson recommended transactions of various leveraged and inverse-leveraged ETFs in the accounts of five customers. As a background, these types of ETFs are designed to achieve their objectives over the course of a single day only and are generally not appropriate for long term holdings. By holding these ETFs over longer periods of time the value of the investment differs dramatically from the index it tracks because the investment is reset daily.