Kovack Securities Inc.

Broker Karl Klingmann Ii in Kovack Securities INC. Firm Has Customer Complaint

May 11, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on April 11, 2024.

Claimant alleges that their investments in conservation easements resulted in tax liabilities.

Broker Jose Zorrilla in Kovack Securities INC. Firm Has Customer Complaint

May 8, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on April 24, 2024.

Time frame: Unspecified.\, Allegations: Claimant alleges that the recommendation to invest in and hold Puerto Rico closed-end funds was unsuitable and that his UBS account was over-concentrated in these investments. He also alleges that the risks of investing in and concentrating in PR investments were misrepresented.

There are Recent Customer Complaints with Broker Laura Shrawder Miles in Firm Kovack Securities INC.

May 7, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on May 02, 2024.

Customer alleges that an investment made in 2014 was unsuitable for the customer’s investment objectives and risk tolerance.

Broker Gregory Whelan in Kovack Securities INC. Firm Has Customer Complaint

May 4, 2025 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Gregory Whelan (Whelan) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Whelan was employed by Kovack Securities INC. at the time of the activity. If you have been a victim of Whelan’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $3,408,797.00 on May 14, 2024.

The customer alleges unsuitable investments, misrepresentations, and the use of personal email to engage in selling away.

Broker Rinaldo Diaz-flores in Kovack Securities Inc. Firm Has Customer Complaint

April 8, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rinaldo Diaz-flores (Diaz-flores), currently associated with Kovack Securities Inc., has at least one disclosable event. These events include one customer complaint, alleging that Diaz-flores 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 $100,000.01 on August 09, 2024.

Claimant alleges that his investments were subject to unsuitable hold reccomendations for three PR closed end bond funds.

Broker Carlos Garcia in Kovack Securities Inc. Firm Has Customer Complaint

March 10, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carlos Garcia (Garcia), currently associated with Kovack Securities Inc., has at least one disclosable event. These events include one customer complaint, alleging that Garcia 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 $107,000.00 on October 17, 2024.

Client expressed dissatisfaction with RR’s hold recommendation which resulted in unrealized losses.

There are Recent Customer Complaints with Broker Rod Cushing in Firm Kovack Securities Inc.

March 3, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Rod Cushing (Cushing), currently associated with Kovack Securities Inc., has at least one disclosable event. These events include one customer complaint, alleging that Cushing 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 $812,545.87 on October 28, 2024.

Client claims that RR recommended unsuitable investments in mortgage backed securities.