Coastal Equities

There are Recent Customer Complaints with Broker Ray Gallette in Firm Coastal Equities, INC.

August 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ray Gallette (Gallette), previously associated with Coastal Equities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Gallette 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 $100,000.00 on July 17, 2025.

The claimants allege unsuitable investments.

Broker Kevin Canterbury in Coastal Equities, INC. Firm Has Customer Complaint

July 16, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Canterbury (Canterbury), previously associated with Coastal Equities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Canterbury 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 July 21, 2023.

Claimants allege unsuitable investments.

Broker Michael Mueller in Coastal Equities, INC. Firm Has Customer Complaint

June 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Mueller (Mueller), previously associated with Coastal Equities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mueller 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 $1,500,000.00 on February 23, 2024.

The client alleges unsuitable investments.

There are Recent Customer Complaints with Broker Rodney Dabbondanza in Firm Coastal Equities, INC.

May 25, 2025 | by Staff Attorney

Previously financial advisor Rodney Dabbondanza (Dabbondanza), previously employed by brokerage firm Coastal Equities, INC. 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 settled customer complaint with a damage request of $50,000.00 on March 20, 2024.

Client alleges that Financial Professional misrepresented the risks associated with REITS and BDCs and that the investments were unsuitable. Activity occurred September 2011 to November 2014.

There are Recent Customer Complaints with Broker Luke Johnson in Firm Coastal Equities, INC.

April 23, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Luke Johnson (Johnson), previously associated with Coastal Equities, INC., has at least 5 disclosable events. These events include 3 customer complaints, 2 regulatory events, alleging that Johnson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on July 12, 2024.

The claimant alleges failure to conduct adequate due diligence before recommending and selling securities.

There are Recent Customer Complaints with Broker Ray Gallette in Firm Coastal Equities, Inc.

March 2, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ray Gallette (Gallette), previously associated with Coastal Equities, Inc., has at least 7 disclosable events. These events include 7 customer complaints, alleging that Gallette 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 $239,000.00 on October 28, 2024.

The claimant alleges unsuitable investment recommendations.

Advisor Jingbo Pan Accused By Investors of Selling Unsuitable Alternative Investments

February 8, 2021 | by Staff Attorney

Advisor Jingbo Pan (Pan), currently employed by Vestech Securities, Inc. (Vestech Securities) and formerly employed by Coastal Equities, Inc. (Coastal Equities) has been subject to at least three customer complaints and one employment termination for cause during the course of his career. According to a BrokerCheck report the customer complaints concerns 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.

In February 2020 Pan was discharged for cause by Coastal Equities on allegations that Pan failed to follow firm procedures by failing to obtain prior principal approval before submitting an order for execution.

In November 2019 a customer complained that Pan violated the securities laws by alleging that Pan engaged in sales practice violations related to DPPs and breached his fiduciary duty and was negligent. The claim alleges $125,000 in damages and settled for $25,000.

In September 2019 a customer complained that Pan violated the securities laws by alleging that Pan engaged in sales practice violations related to DPPs and breached his fiduciary duty, negligent, and failed to supervise. The claim alleges $90,000 in damages and settled for $20,000.

Advisor Dudley Stephens Accused of Churning and Unapproved Product Sales

February 23, 2019 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Dudley Stephens (Stephens), formerly associated with Coastal Equities, Inc. (Coastal Equities), in September 2018, was san ctioned and barred from the securities industry by FINRA due to failures to provide documents and information requested by the regulator. In addition, Stephens has three customer complaints, one termination, and one additional regulatory complaint.

In July 2018 Stephens was terminated by Coastal Equities on grounds that he was being reviewed over suspicious letters of authorization for third party wires. Thereafter, FINRA barred Stephens.

In December 2018 a customer filed a complaint alleging that excessive and unauthorized commissions were charged of approximately $50,000 per year for 2.5 years in her advisory account. The client also alleged that $100,000 was invested in an unauthorized private securities transaction was a sham. The claim alleges $250,000 in damages and is currently pending.

The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”.

Broker Sam Aziz Discharged Due to Regulatory Investigation Over Sales Practices

January 31, 2019 | by Staff Attorney

According to BrokerCheck records financial advisor Sam Aziz (Aziz), formerly employed by David A. Noyes & Co. (David Noyes) has been subject to at least three customer complaints, one regulatory investigation, and two terminations for cause. According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Aziz’s customer complaints allege that Aziz made unsuitable recommendations in a variety of investments.

In October 2018 FINRA opened an investigation into Aziz’s activities. On October 24, 2018, FINRA made a preliminary determination to recommend that disciplinary action be brought against Aziz alleging that he made potential violations, specifically excessive trading and unsuitable recommendations of the use of margin), attempting to settle away a customer’s complaint), and use of an undisclosed personal email account and text messages to conduct securities business.

In October 2018 Aziz’s firm, David Noyes, terminated him citing the FINRA investigation as a reason.

Andrew Pravlik Subject to Customer Complaints Alleging Unsuitable Investments

July 1, 2018 | by Staff Attorney

The securities attorneys at Gana Weinstein LLP are investigating claims against Coastal Equities, Inc. (Coastal Equities) broker Andrew Pravlik (Pravlik). According to BrokerCheck records, Pravlik has been subject to a regulatory matter in which the Financial Industry Regulatory Authority (FINRA) sanctioned Pravlik for various violations of the securities laws. In 2009, Pravlik falsely labeled 30 redemption requests as Required Minimum Distributions (RMDs) when he entered them into the firm’s mutual fund system. By doing so, he prevented a deferred sales charge that would have applied to the redemptions, and falsified the firms records. In May 2010, Pravlik was fined $5,000 and suspended for 90 days.

In addition, Pravlik also been subject to two customer complaints concerning unsuitable risky investments, one of which is still pending

In October 2017, customers alleged that Pravlik placed them in unsuitable investments that did not match with their investment portfolio. The customer has requested damages of $175,000. This dispute is still pending.