Articles Tagged with Kovack Securities Inc.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alan Haenel (Haenel), previously associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Haenel 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 $99,999.00 on March 17, 2021.

Claimant alleges breach of fiduciary duty, negligence, and breach of contract pertaining to the purchase, in Nov. 2017, of GPB Automotive Portfolio LP, a DPP.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lorenzo Delgado Bustamante (Delgado Bustamante), currently associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Delgado Bustamante 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 $225,000.00 on April 05, 2021.

Period 2005-2013. Alleges concentration in pr securities, misrepresentation of suitability, fraud, breach of fid duty, negligence, violation finra rules, pr and federal law.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Danny Young (Young), currently associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Young 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 $800,000.00 on April 12, 2021.

Claimants allege that representative sold them risky, high-fee investments in 2015 and 2016 which were unsuitable for their investment needs and inconsistent with their investor profiles.

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

FINRA BrokerCheck shows a pending customer complaint on November 10, 2025.

Claimants allege that a conservation easement purchased in 2016 resulted in unexpected tax consequences.

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

FINRA BrokerCheck shows a pending customer complaint on November 10, 2025.

Claimant alleges that a conservation easement purchased in 2016 resulted in unexpected tax consequences.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Sandra Mckoy (Mckoy), currently associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Mckoy 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 $5,000.00 on January 11, 2022.

Client alleges investment was unsuitable

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Currently financial advisor Barbara Ralston (Ralston), currently employed by brokerage firm Kovack Securities 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 $35,000.00 on January 31, 2022.

Claimant expressed his dissatisfaction related to REIT purchase made approximately seven years ago by a Representative supervised by Ms. Ralston. Arbitration filed claims unsuitability and misrepresentation regarding the REITs.

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

FINRA BrokerCheck shows a pending customer complaint on March 28, 2022.

Claimant alleges that his 1031 exchange was unsuitable.

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

FINRA BrokerCheck shows a pending customer complaint on March 28, 2022.

Claimants allege unsuitability, overconcentration, and omissions regarding an offshore investment purchased in 2009.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Sandra Mckoy (Mckoy), currently associated with Kovack Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Mckoy 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 $5,000.00 on January 11, 2022.

Client alleges investment was unsuitable

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