Articles Tagged with Cambridge Investment Research

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Phillip Smelser (Smelser), currently associated with Cambridge Investment Research, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Smelser 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 $600,000.00  on June 29, 2020.

SOC alleges the sale of unsuitable investments, misrepresentation and other sales practice violations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Mills (Mills), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mills 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 $120,000.00  on March 26, 2020.

Client alleges RR failed to follow liquidation instructions.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Owens (Owens), currently associated with Cambridge Investment Research, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Owens 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 $150,000.00  on April 17, 2020.

Allegations of improper investment recommendations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Deborah Shuster (Shuster), previously associated with Cambridge Investment Research, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Shuster 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 $1,000,000.00  on August 13, 2020.

Statement of Claim alleges client was sold alternative, illiquid and complex investment products rather than traditional liquid and well-diversified investment portfolio options.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicolas Longpre (Longpre), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Longpre 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 $750,000.00 on June 03, 2026.

Clients allege unsuitable investments and risks not fully explained.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Barber (Barber), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Barber 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 $5,000.00 on April 10, 2026.

Customer alleges that a February 2026 recommendation to exchange a variable annuity to a fixed index annuity was unsuitable.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker John Williams (Williams), previously associated with Cambridge Investment Research, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Williams  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 on March 13, 2026.

Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Michael Kaufman (Kaufman), previously associated with Cambridge Investment Research, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Kaufman  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 on March 13, 2026.

Statement of Claim alleges an investment recommendation was made for the purpose of generating high commissions and fees and that Claimants were deprived of the ability to generate reasonable returns that would have been received in a diversified portfolio.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Waugh (Waugh), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Waugh 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 $35,733.00 on March 30, 2026.

The clients allege that RR provided a poor recommendation to sell mutual funds resulting in tax consequences.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Owens (Owens), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Owens 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 $150,000.00 on April 17, 2020.

Allegations of improper investment recommendations.

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