Articles Tagged with Osaic Wealth

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Steves (Steves), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Steves 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 $50,000.00 on July 15, 2020.

Claimant alleges that Mr. Steve’s failed to move one hundred percent of his portfolio to cash.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carmine Lopresti (Lopresti), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Lopresti 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 17, 2020.

Claimants allege fraud, negligence, breach of fiduciary duty, and breach of contract

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

FINRA BrokerCheck shows a settled customer complaint on July 26, 2020.

The clients allege the RR provided a poor recommendation in regard to surrendering four annuities in May of 2019, as the resulting tax impact was greater than expected.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lee Kramer (Kramer), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Kramer 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 $62,000.00 on August 04, 2020.

Allegations of unsuitable investment recommendations related to a business development company.

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Currently financial advisor Brett Jenson (Jenson), currently employed by brokerage firm Osaic Wealth, 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 on August 06, 2020.

Claimant alleges RR sold unsuitable investments, including several non-traded REITs.

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

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $600,000.00 on December 07, 2020.

Lunin-Pack was a subject of the customers’ complaint against his member firm that asserted the following causes of action: unsuitability; breach of fiduciary duty; negligence; negligent misrepresentation; intentional misrepresentation; negligent supervision, hiring and retention; and breach of contract.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Paz Chandra (Chandra), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Chandra 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 December 31, 2020.

CUSTOMER ALLEGES UNSUITABLE ALTERNATIVE INVESTMENT RECOMMENDATION. ACTIVITY PERIOD: 1/2015\<char_lb_r>\, TO 12/2020.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brad Small (Small), previously associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Small 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 $24,750.00 on January 04, 2021.

Claimants allege breach of contract and unjust enrichment.

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

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $54,567.96 on January 12, 2021.

Johnson was a subject of the customer\\u2019s complaint against his member firm that asserted the following causes of action: breach of contract and warranties; promissory estoppel; violation of state securities statutes; breach of fiduciary duty; negligence and gross negligence; misrepresentation/omission & negligent misrepresentation/omission; unjust enrichment; failure to supervise; common law and statutory claims and damages; and vicarious & control person liability.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Lane (Lane), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Lane 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 $25,000.00 on January 21, 2021.

Claimants allege breach of fiduciary duty, violation of FINRA Rules, breach of contract and negligence.

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