FSC Securities Corporation

There are Recent Customer Complaints with Broker Michael Karis in Firm Fsc Securities Corporation

December 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Karis (Karis), previously associated with Fsc Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Karis 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 $500,000.00 on April 04, 2022.

Claim alleges Mr. Karis misrepresented and made unsuitable recommendations to the claimant’s deceased mother for Atlas Growth Partners, LP.

There are Recent Customer Complaints with Broker Scott Coonrod in Firm Fsc Securities Corporation

October 18, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Coonrod (Coonrod), previously associated with Fsc Securities Corporation, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Coonrod 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 $1,228,822.00 on April 21, 2023.

Claimants, who are the daughters of the deceased client, allege that discretionary trading in the account was overly aggressive and not in keeping with their father’s purported needs and objectives.

Broker Steven Boblis in Fsc Securities Corporation Firm Has Customer Complaint

October 1, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Boblis (Boblis), previously associated with Fsc Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Boblis 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 $10,000.00 on November 30, 2022.

Client alleges that advisor did not invest his funds in a timely manner and he was charged advisory fees while sitting in cash when he thought the advisor would invest his funds.

There are Recent Customer Complaints with Broker Albert Aizin in Firm Fsc Securities Corporation

August 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Albert Aizin (Aizin), previously associated with Fsc Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Aizin 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 November 28, 2023.

The Claimant alleges that the financial professtional sold him an alternative investment that was unsuitable.

Broker Bradley Weisman in Fsc Securities Corporation Firm Has Customer Complaint

August 11, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Bradley Weisman (Weisman), previously associated with Fsc Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Weisman 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 November 28, 2023.

The Claimant alleges that the financial professional sold him an alternative investment that was unsuitable.

There are Recent Customer Complaints with Broker James Kickel in Firm Fsc Securities Corporation

June 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Kickel (Kickel), previously associated with Fsc Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Kickel 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 $300,000.00 on December 19, 2023.

The Statement of Claim was filed on behalf of nine claimants against Grove Point Investments, LLC involving the same investment – NorthStar Healthcare Income REIT. Claimants allege unsuitability, overconcentration, breach of fiduciary duty and negligence. Activity occurred March 24, 2014 to February 12, 2016.

Sandeep Varma Sanctioned by FINRA for Providing Misleading Claims on CRT Stategy

July 12, 2018 | by Staff Attorney

Recently, Sandeep Varma’s (Varma) attorney reached out to our firm to inform us that our post on Varma was inaccurate. The post detailed that Varma had been subject to five customer and that the majority of these complaints involved the recommendation of unsuitable and misrepresented variable investments including CRTs and life insurance policies.

The post also detailed how in January 2018, FINRA found that Varma misrepresented a real-estate planning strategy involving Charitable Remainder Trusts (CRTs) to 70 potential customers by providing misleading claims about the nature of deferred capital gains taxes, risks, and rewards that are involved in CRTs. In addition, Varma recommended that the sale of appreciated assets should be invested into variable annuities and into premiums for an insurance policy. While recommending these investments, Varma failed to disclose that the premium payments for the life insurance policy were dependent on performance of investments in the CRT and that this yielded risk for lapse in the insurance policy. FINRA found that Varma’s positive projection of the performance of investments in the CRT and life insurance policy was exaggerated in a promissory manner because it didn’t disclose the reasonable possibility of negative investment performance. In February 2018, Varma was suspended for 10 days and fined $15,000. Without admitting or denying the findings, Varma consented to the sanctions and to the entry of findings.

Varma’s attorney has brought it to our attention that Varma has succeeded in using FINRA’s flawed expungement process system to remove two complaints from his BrokerCheck record that resulted in settlements totaling $1.2 million. As shown in Varma’s expungement “award”, Varma sued his own employer, LPL Financial LLC (LPL Financial) for damages of $1.00 due to the placement on his record of two customer complaints. The “hearing” that took place appears to have been perfunctory at best. The hearing concerning two customer complaints took only one hearing session to complete. Usually there are two hearing sessions a day – meaning in this case two cases were probably decided in time for the arbitrator to catch lunch. The total cost to Varma by FINRA to expunge two customer complaints from his record was $100 – excluding any fees he privately paid his counsel.

FINRA Suspends Kenneth Savino for Selling Away

January 4, 2018 | by Staff Attorney

The investment lawyers of Gana Weinstein LLP are investigating the regulatory action brought by the Financial Industry Regulatory Authority (FINRA) against Kenneth Savino (Savino).

According to BrokerCheck records, Savino allegedly purchased shares of a security for $100,000 without providing prior notice to his member firm and Savino inaccurately indicated on an annual compliance questionnaire that he had not participated in any private securities transactions. Savino was suspended for 15 days and fined $5,000. Without admitting or denying the findings, Savino consented to the sanctions and the entry of findings.

Savino was discharged from LPL Financial in October 2015 for allegedly entering into a loan transaction with another company, receiving shares of the company in return, with no pre-approval by the firm. Additionally, Savino allegedly made private securities transaction that he did not have pre-approved by the firm. Savino also allegedly introduced a client to a potential outside investment opportunity that was not approved by the firm.

FSC Securities Broker Brian Presley Subject to Multiple Alternative Investment Complaints

May 29, 2017 | by Staff Attorney

The securities fraud lawyers of Gana Weinstein LLP are investigating customer complaints filed with The Financial Industry Regulatory Authority’s (FINRA) against current FSC Securities Corporation (FSC Securities) broker Brian Presley (Presley). According to BrokerCheck records, Presley has spent 34 years in the securities industry and is currently located in Punta Gorda, Florida operating under the d/b/a The Presley Advisory. Over his career, Presley has been the subject of at least eight customer complaints and two regulatory actions.

The most recent complaint was filed in August 2015 alleging that Presley breached his duties to his clients in illiquid investments including oil and gas and non-traded REIT’s. The customer alleged $117,000 in damages. The claim has been settled. Many of Presley’s other customer complaints similarly allege damages resulting from the sale of alternative investment products.

Our firm often handles cases involving direct participation products (DPPs) and private placements including oil and gas partnerships, non-traded real estate investment trusts (REITs), and other alternative investments.

Broker Investigation: Customer Complaints Against Broker Stanley Keyes

February 8, 2016 | by Staff Attorney

The securities lawyers of Gana Weinstein LLP are investigating customer complaints filed with The Financial Industry Regulatory Authority (FINRA) against broker Stanley Keyes (Keyes). According to BrokerCheck records Keyes is subject to 5 customer complaints, 1 regulatory action, and 2 employment separations. The customer complaints against Keyes allege securities law violations that including unsuitable investments, unauthorized trading, misrepresentations, and breach of fiduciary duty among other claims.

The most recent regulatory action was filed by FINRA in November 2010 and alleged that Keyes borrowed a total of $214,000 from customers and used that money to meet personal financial obligations. FINRA alleged that Keyes failed to disclose the existence of these loans to his firm. FINRA fined Keyes $5,000 and suspended the broker for three months. Prior to that FSC Securities Corporation terminated Keyes alleging that the broker had borrowed money from firm customers in violation of the firm’s policies.

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.