July 17, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Paul Horton Smith Sr. (CRD# 2387799) of Planning Services, Inc., eGate LLC, and Northstar Communications LLC, who has been permanently barred from acting as a broker by the Securities and Exchange Commission (“SEC”) following his involvement in a $24 million Ponzi Scheme that purported to invest in...
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July 17, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Brian Sodol (CRD# 2760345) of Citigroup Global Markets, Inc., after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,600,000 in investor damages due to breach of fiduciary duty, negligence, and negligent supervision by Citigroup Global Markets Inc. The customer further alleges that...
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July 15, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Paul Raehpour (CRD# 4508598) of Merrill Lynch after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging investor damages due to unauthorized trading. The complaint allegedly relates to investments in Exchange Traded Funds (ETFs). According to FINRA BrokerCheck, broker Paul Raehpour is currently...
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July 15, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Samuel Barber (CRD# 4750380) of Lifemark Securities Corp. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $80,000 in investor damages due to an unsuitable recommendation to invest in an alternative investment product that has since filed for chapter 11 bankruptcy. The...
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July 15, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ronald G. Smith (CRD# 6038062) of Spartan Capital Securities and Sanford C. Bernstein & Co. following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), alleging $250,000 in investor damages due to Breach of Fiduciary Duty, Negligence, Failure to Supervise, Failure to Recommend...
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July 15, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Bron Thompson (CRD# 4350479) of Capital Investment Group, after several customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $636,002 in collective investor damages due to unsuitable recommendations to invest in GWG L Bonds and breach of fiduciary duty. According to FINRA BrokerCheck, broker...
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July 15, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Rich Ceffalio (CRD# 2619565) of Providence Private Wealth, NewEdge Advisors, LPL Financial, and Wells Fargo Clearing Services, after several customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging over $3,530,379 in collective investor damages. One of the customer complaints filed against Ceffalio alleges that...
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July 10, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Robert Turner (CRD# 2113736) of UBS Financial Services and Stifel, Nicolaus, & Co., who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) following allegations that he participated in private securities transactions through the sale of fixed annuities, without providing...
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July 9, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Jeffrey Shaver (CRD# 2675592) of Arkadios Capital, Triad Advisors, and 34 Financial after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $100,000 in investor damages due to the customer’s retirement assets being invested in a single high risk alternative investment. The complaint...
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July 9, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Chris Jacobi (CRD# 1648679) of Ameriprise Financial Services, after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $150,848 in investor damages due to poor and speculative advice resulting in lost account value. According to FINRA BrokerCheck, broker Chris Jacobi a/k/a Christopher John...
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July 9, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kevin Cougle (CRD# 2251260) of The Retirement Optimization Group, Cadaret, Grant & Co., Inc., and Pruco Securities, after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $126,000 in investor damages due to unauthorized transactions. According to FINRA BrokerCheck, broker Kevin Cougle is...
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July 9, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ron Appler (CRD# 2499039) of Rocky Mountain High Financial Services and Independent Financial Group, after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $300,000 in investor damages due to misrepresented investments in Business Development Companies (“BDCs”) and Real Estate Investment Trusts (“REITs”)...
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July 9, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Jennifer Yoon a/k/a Borami Yoon (CRD# 6864788) of Morgan Stanley after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $200,000 in damages due to misrepresentation with respect to investments. According to FINRA BrokerCheck, broker Jennifer Yoon a/k/a Borami Yoon is currently registered...
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July 9, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating investment advisor John Kauzlarich (CRD# 5096866) of Park Avenue Securities, following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), alleging $462,000 in investor damages. The complaint alleges that the information the customer received was inaccurate when he informed the representative that he wanted...
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July 5, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Bernard Yip (CRD# 2391643) of Raymond James Financial Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $108,711 in investor damages due to missing funds. The complaint allegedly relates to Equity Indexed Annuities. According to FINRA BrokerCheck, broker Bernard Yip is...
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July 5, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Robert Snider (CRD# 2417319) of MML Investors Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging the representative churned the customers’ annuities. The complaint further alleges that at least with one of these annuities, the representative appeared to be taking every...
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July 5, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Jack Elvestrom (CRD# 1426319) of Morgan Stanley, after a Financial Industry Regulatory Authority (“FINRA”) arbitration panel awarded a customer $54,250 in compensatory damages, in connection with allegations of unsuitable recommendations to invest in low quality junk bonds, in addition to violation of Regulation Best Interest, breach of...
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July 5, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Scott Phillips (CRD# 1311907) of Centaurus Financial after several customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $288,300 in collective investor damages due to unsuitable recommendations to invest in a high-risk investment, and breach of fiduciary duty. According to FINRA BrokerCheck, broker Scott...
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July 5, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Lawrence Barrett (CRD# 13429) of Lincoln Financial Advisors (now known as Osaic FA, Inc.) after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $100,000 in investor damages due to unsuitable recommendations to invest in an oil & gas investment. According to FINRA...
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July 5, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating investment advisor Miguel Cestero (CRD# 2765420) of Popular Securities Inc. and CorreaCosta Investments, following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,000,000 in investor damages due to recommendations to purchase and to hold Puerto Rico closed-end funds and Puerto Rico bonds,...
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July 3, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Nick Therrien (CRD# 4468021) of PFS Investments after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $500,000 in damages due to unsuitable investment recommendations. According to FINRA BrokerCheck, Nick Therrien is currently registered as a broker with PFS Investments in Londonderry, NH. ...
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July 3, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Kristopher Kessler a/k/a Kit Charles Kessler (CRD# 4543640) of American Trust Investment Services, Asset Strategies and Chicago Capital Management Advisors, who is being investigated by the Financial Industry Regulatory Authority (“FINRA”) for engaging in an outside business activity without prior written notice to his firm and submitting...
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July 3, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Michael Archimede (CRD# 5701306) of PFS Investments, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) following allegations that he refused to provide information and documents, and to appear for on-the-record testimony requested by FINRA, in connection with the...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker James McGehee (CRD# 5562429) of McGehee Wealth Management and Waddell & Reed, who has been permanently barred from acting as a broker by the Colorado Division of Securities following allegations that he did not adequately disclose an options trading strategy and its associated risks to clients. Further,...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Vianne Chen (CRD# 6832893) of J.P. Morgan Securities, who has been hit with charges alleging conspiracy to commit bank fraud, in the United States District Court of St. Louis, Missouri. According to FINRA BrokerCheck, broker Vianne Chen a/k/a Vianne Tingting Chen is currently registered with J.P. Morgan...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ryan Ainsworth (CRD# 5740339) of Northwestern Mutual Investment Services, after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $465,000 in damages due to misrepresentation and breach of fiduciary duty, breach of contract and covenant of good faith and fair dealing, breach of...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker John Rotando (CRD# 2071444) of Wells Fargo Advisors and Wells Fargo Clearing Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $100,000 in investor damages due to unsuitable recommendations to invest in a variable annuity. According to FINRA BrokerCheck, broker John...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Garrick Gookin (CRD# 4925108) of Centaurus Financial after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $100,000 in investor damages due to unsuitable recommendations to invest in a high-risk, illiquid investment, and breach of fiduciary duty. According to FINRA BrokerCheck, broker Garrick...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating investment advisor Edward Schuh (CRD# 6778484) of Alphastar Capital Management and Inception Financial Services, following the filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,211,751 in investor damages due to breach of contract, common law fraud, negligence, breach of fiduciary duty, negligent misrepresentations,...
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July 2, 2024 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Patrick Mendenhall (CRD# 1068809) of USCA Securities and U.S. Capital Wealth Advisors after several customer complaints were filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $8,000,000 in collective investor damages due to losses and missed opportunity related to certain investments, including missed opportunity in a stock...
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