Kingswood Capital Partners

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 Phillip Anderson in Firm Kingswood Capital Partners, LLC

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Phillip Anderson (Anderson), previously associated with Kingswood Capital Partners, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Anderson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 13, 2025.

Without admitting or denying the findings, Anderson consented to the sanctions and to the entry of findings that he made recommendations to senior retail customers that were unsuitable based on the customers’ investment profiles by recommending that that they invest in speculative, unrated corporate bonds. The findings stated that Anderson’s recommendations to the customers resulted in at least 96 percent and 35 percent of their respective net worth, not including primary residence, being invested in the bonds. Anderson earned a total of $8,280 in commissions in connection with these recommendations. A customer and a beneficiary of the other customer each brought and settled an arbitration against Anderson’s member firm relating to the bond investments.

Broker Joseph Smith in Kingswood Capital Partners, LLC Firm Has Customer Complaint

July 14, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on August 04, 2023.

BREACH OF CONTRACT, VIOLATION OF STATE SECURITIES STATUTES, BREACH OF FIDUCIARY DUTY, CLAIMS UNDER COMMON LAW AND VICARIOUS LIABILITY.

Broker Richard Siminou in Kingswood Capital Partners, LLC Firm Has Customer Complaint

July 8, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Richard Siminou (Siminou), currently associated with Kingswood Capital Partners, LLC, has been subject to at least 3 disclosable events. These events include one customer complaint, 2 regulatory events. Several of those complaints against Siminou concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on September 18, 2023.

On or about August 18, 2023, without admitting or denying the findings, Siminou entered into Acceptance, Waiver and consent (‘AWC’) with FINRA wherein Siminou consented to the entry of findings that he engaged in excessive and unsuitable trading in the accounts of two elderly customers. Siminou recommended purchases which resulted in an annualized cost-to-equity ratio requiring investments to grow by more than 29 percent and 34 percent, respectively, just to break even. As a result of Siminou’s unsuitable recommendations, the customers paid $17,021 in commissions and fees. Siminou was suspended for a period of four (4) months and agreed to pay a fine in the amount of $5,000 and to pay restitution of $17,201 plus interest.

Broker Robert Rasbach in Kingswood Capital Partners, LLC Firm Has Customer Complaint

July 6, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Rasbach (Rasbach), currently associated with Kingswood Capital Partners, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Rasbach 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 $500,000.00 on October 02, 2023.

Allegation period: October 1, 2014 the date of the first purchase of SOAEX to October 2, 2023 the date the SOC was received. Allegations: Robert Rasbach U5 – E11, E12, SOAEX – unsuitability, misrepresentation/omission.

There are Recent Customer Complaints with Broker Mark Williams in Firm Kingswood Capital Partners, LLC

April 20, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Williams (Williams), previously associated with Kingswood Capital Partners, LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Williams 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 $546,000.00 on July 26, 2024.

The customers allege that during the period of early 2019 through February 2021, the Registered Representative withheld material facts and recommended unsuitable, high-risk, speculative, illiquid investments and breached his fiduciary duty.