Articles Tagged with Raymond James

shutterstock_190371500-300x200The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that broker Eric Bachinsky (Bachinsky), currently employed by Raymond James & Associates, Inc. (Raymond James) has been subject to at least five customer complaints during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Bachinsky’s customer complaints alleges that Bachinsky recommended unsuitable investments in various investments.

In March 2020, the attorney for a customer’s estate complained that Bachinsky violated the securities laws by alleging that Bachinsky engaged in unsuitable investments.  The damage amount requested was $228,465.26. The damages were denied.

In November 2011, a customer complained that Bachinsky violated the securities laws by alleging that Bachinsky engaged in negligence, misrepresentation, breach of contract, and breach of fiduciary duty. The damage amount requested was $80,000. The claim settled in the amount of $24,000.

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shutterstock_176283941-300x200The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that advisor John Howard (Howard), currently employed by Raymond James & Associates, Inc. (Raymond James) has been subject to at least three customer complaints during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Howard’s customer complaints alleges that Howard recommended unsuitable investments in various investments including allegations involving unauthorized trading among other allegations of misconduct relating to the handling of their accounts.

In September 2019, a customer complained that Howard violated the securities laws by alleging that Howard engaged in breach of fiduciary duty, negligence, breach of contract, and violated several other securities laws. The claim settled in the amount of $97,500.

In March 2008, a customer complained that Howard violated the securities laws by alleging that Howard engaged in unauthorized purchase of commercial paper. The claim settled in the amount of $1,134,601.00.

In February 2005, a customer complained that Howard violated the securities laws by alleging that Howard conducted unauthorized trades. The claim alleges settled in the amount of $7,859.83.

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Joseph Andreoli Jr is a Financial advisor. A graduate of Ramapo College of New Jersey, Mr. Andreoli Jr holds a Bachelor of Science in business. In 1987 he started his professional career at Hym Financial, INC for a year and proceeded further on his path to work for many firms such as J.B. Hanaur & Company, Smith Barney Inc., Citigroup Global Markets Inc., Wells Fargo Clearing Services LLC and is currently working for Raymond James & Associates, Inc. Mr. Andreoli was in the securities industry for approximately 33 years.

A brokerage firm or broker-dealer is in the business of buying and selling securities- stocks, bonds, mutual funds and certain other investment products on behalf of its customer for its own bank. An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services. Mr. Andreoli Jr is licensed to sell securities in 17 states.

In or around July of 2000, Mr. Andreoli Jr had his first dispute, the allegations against him consisted of the unsuitable sale of securities, negligence, breach of contract, breach of fiduciary duties, fraud, violation of industry rules, federal securities laws, and various Texas state law statutes regarding trading of treasury bonds on margin for capital gains for a requested amount of $196,275.88. The unsuitable sale of securities occurs when a broker fails to take into account customer specific information in making a recommendation. Negligence is the failure to take proper care or carelessness. Breach of contract is the breaking of legal agreement. A breach of fiduciary duty occurs when the fiduciary acts in the interest of themselves, rather than the best returns for the client. Fraud is an intentional act to deceive for personal gain. At the conclusion of the case, the Claimant in this matter was awarded $56,555 by an arbitration panel.

shutterstock_180341738-200x300The law offices of Gana Weinstein LLP are currently investigating claims that advisor Lance Armstrong (Armstrong) was terminated by his firm and then barred from the securities industry over allegations that he engaged in multiple loans with customers among other allegations.  According to BrokerCheck records, Armstrong was formerly registered with The Financial Industry Regulatory Authority (FINRA) member firm Raymond James Financial Services, Inc (Raymond James).  If you have been a victim of Armstrong’s alleged misconduct our firm may be able to assist you in recovering funds.

In November 2019 FINRA barred Armstrong finding that Armstrong consented to the sanction and findings that he refused to appear for on-the-record testimony as requested by FINRA in connection with its investigation of his activities. FINRA stated that Armstrong’s member firm filed a Form U5, disclosing that it had discharged him after he solicited and accepted multiple loans from customers in connection with an undisclosed outside business activity.

According to Armstrong’s publicly disclosed records the only outside business activities disclosed including Coopcade Capital LLC and First Hope Bank.  It is unclear at this time whether FINRA’s allegations concern these entities.

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shutterstock_160071281-300x168The law offices of Gana Weinstein LLP are currently investigating claims that advisor Frederick Stow (Stow) was discharged by his employer after being accused of misappropriating client funds.  According to BrokerCheck records, Stow is formerly registered with The Financial Industry Regulatory Authority (FINRA) member firm Raymond James & Associates, Inc. (Raymond James).  In addition, Stow disclosed two customer complaints related to misappropriating funds. If you have been a victim of Stow’s alleged misconduct our firm may be able to assist you in recovering funds.

In May 2019 Stow was discharged by Raymond James after the firm claimed that Stow misappropriated funds from customer accounts.

Thereafter, in June 2019 a customer filed a complaint alleging that Stow violated the securities laws by misappropriating funds from 2013 through 2019.  The claim alleges $911,500 in damages and is currently pending.

In July 2019 a customer filed a complaint alleging that Stow violated the securities laws by misappropriating funds from 2015 through 2019.  The claim alleges $911,500 in damages and is currently pending.

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shutterstock_184430612-300x225The law offices of Gana Weinstein LLP are currently investigating claims against broker Jeffrey Poosch (Poosch), currently associated with Summit Brokerage Services, Inc. (Summit Brokerage) out of Fort Gratiot, Michigan.  According to a BrokerCheck report, Poosch has been subject to at least four customer disputes during the course of his career.  According to records kept by The Financial Industry Regulatory Authority (FINRA), Poosch’s customer complaints concern allegations of unauthorized trading and misrepresentations among other claims.

In February 2018 a customer filed a complaint alleging that Poosch made unauthorized trading and failed to disclose fees associated with a variable annuity.  The customer requested over $500,000 in damages.  The claim was denied.

In December 2016 a customer alleged that Poosch failed to disclose penalties to them.  The amount of damages was not specified.  The claim settled for $6,269.

Advisors are not allowed to engage in unauthorized trading.  Such trading occurs when a broker sells securities without the prior authority from the investor. All brokers are under an obligation to first discuss trades with the investor before executing them under NYSE Rule 408(a) and FINRA Rules 2510(b).  These rules explicitly prohibit brokers from making discretionary trades in a customers’ non-discretionary accounts. The SEC has also found that unauthorized trading to be fraudulent nature because no disclosure could be more important to an investor than to be made aware that a trade will take place.

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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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