Articles Tagged with Raymond James

shutterstock_103681238-300x300According to BrokerCheck records financial advisor William Council (Council), currently employed by Raymond James & Associates, Inc. (Raymond James), has been subject to at least three customer complaints and eight financial disclosures during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA) Council has been accused by multiple customers of unsuitable investment advice concerning various investment products including energy stocks most likely including master limited partnerships (MLPs).  The law offices of Gana Weinstein LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments.

In February 2019 a customer filed a complaint alleging that Council violated the securities laws by purchasing unsuitable securities causing $334,000 in damages.  The claim is currently pending.

In December 2018 a customer filed a complaint alleging that Council violated the securities laws by purchasing unsuitable securities, breach of fiduciary duty, negligent misrepresentation, negligence from February 2015 through October 2015 causing $105,000 in damages.  The claim settled for $28,000.

Our firm handles claims and is also investigating securities claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.

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shutterstock_34872913-300x209According to BrokerCheck records financial advisor Ronald Rothchild (Rothchild), currently employed by National Securities Corporation (National Securities) has been subject to at least four customer complaint, two financial disclosures, and an employment termination for cause.  According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Rothchild’s customer complaints allege that Rothchild made was negligent, breached his fiduciary duty, made unsuitable investments, and made misrepresentations.

In July 2018 a customer filed a complaint alleging that Rothchild violated the securities laws including negligence, breach of fiduciary duty, and unsuitable investments causing $100,000 in damages.  The claim is currently pending.

In March 2018 a customer filed a complaint alleging that Rothchild violated the securities laws including that investments were misrepresented to her and were unsuitable based on her investment objectives and risk tolerance which were also incorrectly stated on new account paperwork.  The claim is currently settled.

In December 2016 a customer filed a complaint alleging that Rothchild violated the securities laws including negligence, breach of fiduciary duty, and misrepresentations causing $170,000 in damages.  The claim is settled for $48,000.

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shutterstock_128655458-300x200According to BrokerCheck records financial advisor George Mathis (Mathis), currently employed by Raymond James & Associates, Inc. (Raymond James) has been subject to at least five customer complaints and one termination for cause.  According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Mathis’ customer complaints allege that Mathis made unsuitable recommendations in a variety of securities.

In May 2018 a customer brought a complaint against Mathis alleging the broker violated the securities laws by breaching his fiduciary duty, negligence, and fraud from 2014 through September 2016.  The claim alleged $65,000 in damages and is pending.

In August 2016 a customer brought a complaint against Mathis alleging the broker violated the securities laws by breaching his fiduciary duty, negligence, and and violation of the FINRA Rules from September 2013 through January 2016.  The claim alleged $190,000 in damages and settled.

In August 2015 a customer brought a complaint against Mathis alleging the broker violated the securities laws by making misrepresentations.  The claim alleged $17,946 in damages and was closed.

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shutterstock_112866430-300x199According to BrokerCheck records financial advisor Steven Reznik (Reznik), formerly employed by Raymond James Financial Services, Inc. (Raymond James) has been subject to at least 15 customer complaints.  According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Reznik’s customer complaints allege that Reznik made unsuitable recommendations by concentrating investors in a particular sector, possibly energy.

In January 2019 a customer brought a complaint against Reznik alleging the broker violated the securities laws by recommending an unsuitable overconcentration in investments, unauthorized trading, and constructive fraud from March 2012 until August 2018.  The claim is currently pending.

In November 2018 a customer brought a complaint against Reznik alleging the broker violated the securities laws by recommending an unsuitable overconcentration in investments, unauthorized trading, and breach of fiduciary duty from September 2016 until October 2018.  The claim alleged $125,000 in damages and is currently pending.

In October 2018 a customer brought a complaint against Reznik alleging the broker violated the securities laws by recommending an unsuitable investments, fraud, and breach of fiduciary duty from February 1996 until September 2018.  The claim is currently pending.

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shutterstock_20354401-300x200According to BrokerCheck records financial advisor Robert Abramowitz (Abramowitz), currently employed by National Securities Corporation (National Securities) has been subject to at least three customer complaints.  According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Abramowitz’s customer complaints allege that Abramowitz made unsuitable recommendations in a variety of investments including equities including energy related stocks.

In July 2018 a customer complained that Abramowitz violated the securities laws by engaging in unsuitable investments, breach of fiduciary duty, and negligence.  The customer alleges $100,000 in damages and the claim is currently pending.

In March 2018 a customer complained that Abramowitz violated the securities laws by engaging in conduct alleges investments were misrepresented to her and were unsuitable based on her investment objectives. The customer also alleged that her investment objectives and risk tolerance were incorrectly stated on new account paperwork. The customer alleges $149,236 in damages.  The claim was settled for $75,000.

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shutterstock_184430645-300x225According to BrokerCheck records financial advisor Lynn Faust (Faust), currently employed by Stifel, Nicolaus & Company, Inc. (Stifel Nicolaus) has been subject to at least three customer complaints and one employment termination for cause during her career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), the complaints against Faust concern allegations of unsuitable investments in market linked notes.

In November 2018 a customer complained that Faust recommended investments that violated the securities laws concerning misrepresented market linked notes.  The complaint alleges $59,000 in damages and is currently pending.

In October 2018 Faust was terminated by Raymond James & Associates, Inc. (Raymond James) due to allegations that the firm had concerns relating to the nature of advisor’s UIT activity.

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shutterstock_188269637-300x200According to BrokerCheck records financial advisor Steven Reznik (Reznik), formerly employed by Raymond James Financial Services, Inc. (Raymond James) has been subject to twelve customer complaints during his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), the complaints against Reznik concern allegations of unsuitable investments and allegations of overconcentration involving equities and options.

In November 2018 a customer complained that Reznik recommended investments that violated the securities laws including suitability, overconcentration, unauthorized trading, negligence, violation of FINRA Rules, breach of contract, negligent supervision, and breach of fiduciary duty from 9/26/16 – 10/31/18.  The customer alleges $125,000 in damages and the claim is currently pending.

In September 2017 a customer complained that Reznik recommended investments that violated the securities laws misrepresentations and omissions relating to unauthorized trades, fraud, breach of fiduciary duty, failure to supervise, negligence, gross negligence, negligent retention, negligent misrepresentation, concentration, and respondeat superior liability occurring from 3/25/15 to 9/13/18.  The customer claimed $2,000,000 in damages and is currently pending.

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shutterstock_160486019-300x300According to BrokerCheck records financial advisor Maria Hendershott (Hendershott), currently employed by Raymond James & Associates, Inc. (Raymond James) has been subject to four customer complaints during her career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), the complaints against Hendershott concern allegations of unsuitable investments and allegations of overconcentration.

In November 2018 a customer complained that Hendershott recommended investments that violated the securities laws including breach of contract, violation of provisions of The Texas State Securities Statutes, Ann. Tx Civil Statutes Art. 581-33, violation of The Texas Deceptive Trade Practices Act Bc. Code Ann. § 17.46 and Tex Bc. Code Ann. § 17.50, breach of fiduciary duty that took place from 01/15/2015 until 09/12/2016.  The customer alleges $500,000 in damages and the claim is currently pending.

In October 2017 a customer complained that Hendershott recommended investments that violated the securities laws including during 06/30/2014 until 07/31/2015 claiming gross mismanagement of accounts, investor abuse, churning, breach of fiduciary duty, negligence, and violation of industry rules.  The customer claimed $100,000 in damages.  The case settled for $75,000.

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shutterstock_145123405-200x300According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Stephen Murray (Murray) has been subject to seven customer complaints, two financial disclosures or tax liens, and one regulatory action.  Murray was formerly employed by Raymond James & Associates, Inc. (Raymond James) prior to his bar from the financial industry.  Many of the customer complaints against Murray concern allegations of high frequency trading activity also referred to as churning, unauthorized trading, and unsuitable investments.

In May 2018 FINRA barred Murray after he failed to respond to FINRA’s requests for documents and information concerning his activities.

In May 2017 a customer filed a complaint alleging churning unauthorized trading, negligence, and breach of fiduciary duty.  The claim alleged $100,000 in damages and settled.

In addition, Murray has two financial disclosures concerning debts and tax liens.  This information has been found to be material for investors to have because an advisor who cannot manage his own finances is a relevant factor for investors to consider.  In addition, a broker in financial distress may be influenced to recommend high commission products or strategies.

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shutterstock_185582-300x225According to BrokerCheck records financial advisor George Puliafico (Puliafico), employed by Raymond James Financial Services, Inc. (Raymond James), has been subject to one customer complaint.  According to records kept by The Financial Industry Regulatory Authority (FINRA) Puliafico has been accused by a customer of unsuitable investment advice concerning various investment products including energy stocks most likely including master limited partnerships (MLPs).  The law offices of Gana Weinstein LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments.

The claim was filed in April 2018 and alleges breach of fiduciary duty, negligent supervision, and breach of contract.  The customer claimed $2,000,000 in damages and the claim is currently pending.

Our firm handles claims and is also investigating securities claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.

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