November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Jack Yvars (CRD# 6377111) of Osaic Wealth, Inc. (Royal Alliance Associates) and Signator Investors, Inc. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $250,000 in damages due to unsuitable recommendations to invest in mutual funds that did not meet the customer’s...
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November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Mary Ann Best (CRD# 4389355) of Sanford C. Bernstein & Co. (AllianceBernstein, L.P.) after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $489,703 in damages due to unsuitable recommendations to invest in Alternative Investments. According to FINRA BrokerCheck, broker Mary Ann Best...
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November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Marty Valade (CRD# 1532673) of Woodbury Financial Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $300,000 in damages due to excessive trading and excessive fees. According to FINRA BrokerCheck, broker Martin (Marty) Valade is currently registered as a broker with...
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November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ronald Molo (CRD# 4371241) of Edward Jones, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his failure to provide information and documents requested by FINRA. Molo was also barred from acting as a broker in the state...
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November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Fernando Silva (CRD# 7326519) of Morgan Stanley and Wells Fargo, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his refusal to produce information and documents requested by FINRA, in connection with the regulator’s investigation into a Form...
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November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Mary Swanson (CRD# 1424448) of Stifel, Nicolaus, & Co., Inc. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $76,000 in damages due to breach of contract, negligence, and breach of fiduciary duty. According to FINRA BrokerCheck, Mary Jane Swanson is currently...
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November 14, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker John Terzis (CRD# 1805020) of LPL Financial, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that, pursuant to a ten-year written promissory note, he borrowed $200,000 from one of his customers, a 69-year-old senior who had...
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November 13, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Cynthia Komarek (CRD# 1188714) of Sagepoint Financial, Inc., who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following her refusal to provide information and documents as requested by FINRA, in connection with the regulator’s investigation into Sagepoint’s U5 filing...
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November 13, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Bill Conn (CRD# 1477107) of Raymond James & Associates and International Assets Advisory after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”). According to the complaint, one customer alleges Conn improperly placed them in aggressive and inappropriate investments, while a second customer alleges...
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November 13, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Harold Reinstein (CRD# 2516822) of J.P. Morgan Securities, after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $2,600,000 in damages due to unsuitable investment recommendations and misrepresentations. According to FINRA BrokerCheck, broker Harold Reinstein is currently registered as a broker with J.P....
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November 13, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Robert Rasbach (CRD# 1204704) of David Lerner Associates, Inc. and Benchmark Investments following the filing of two pending customer complaints alleging nearly $1,000,000 in damages due to misrepresented and unsuitable investment recommendations. One of the complaints further alleges investment losses in Spirit of America Energy 11 and...
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November 13, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Enrique Pascual (CRD# 2184412) of Herbert J. Sims & Co, Inc. and Stonecrest Capital Markets, Inc. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $425,708 in damages due to unsuitable investment advice related to PR bond investments. According to FINRA BrokerCheck,...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Nathan Paulson (CRD# 4799867) of APW Capital, Inc. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $5,000,000 in damages due to breach of fiduciary duty, executing risky and unauthorized trading and margin borrowing. The customers further allege failure to exercise a...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Shawn Clark (CRD# 6723045) of Mosaic Financial Group, Continuum Advisory, Kalos Capital after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $100,000 in damages due to unsuitable investment recommendations in Alternative Investments. According to FINRA BrokerCheck, broker Shawn Michael Clark was previously...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Gus Rodrigo (CRD# 3031284) of Sutter Securities Inc., Boustead Securities, LLC, and Westpark Capital, Inc., who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his violation of FINRA rules by exercising discretionary authority in a customer’s account without written...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Thomas Tibaldi (CRD# 2672406) of Citigroup Global Markets, Inc. following the filing of a pending customer complaint alleging $55,000 in damages due to breach of fiduciary duty and negligence related to recommendations to invest in structured notes. According to FINRA BrokerCheck, Thomas Tibaldi is currently registered as...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Carlos Leston (CRD# 3021614) of LPL Financial, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his refusal to produce on-the-record testimony as requested by FINRA. Leston is also facing a pending customer complaint which alleges $850,000 in...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Farid Farhoumand (CRD# 727764) of Next Financial Group, Inc. following the filing of a pending customer complaint alleging $100,000 in damages due to unsuitable and misrepresented recommendations to invest in two business development companies (BDCs). According to FINRA BrokerCheck, broker Farid Farhoumand is currently registered as a...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Andrew Pesner (CRD# 1971579) of Joseph Stone Capital and VCS Venture Securities after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $295,531 in damages due to unsuitable investment recommendations, negligence, and lost opportunity. According to FINRA BrokerCheck, broker Andrew Pesner was previously...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker George Kuruvilla (CRD# 1000316) of Kuruvilla & Associates, LifeMark Securities Corp., and Virtue Capital Management after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,050,000 in damages due to unsuitable investment recommendations in an Alternative Investment. The customer further alleges insufficient due...
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November 10, 2023 | Broker / Advisor Investigation
National investment fraud lawyers KlaymanToskes is investigating broker Jason Kimber (CRD# 6244188) of J.W. Cole Financial, Inc., following the filing of four customer complaints alleging $29,350,000 in collective investor damages due to fraud. One of the customer complaints filed alleges $15,000,000 in investor damages in the customers’ J.W. Cole Financial, Inc. account due to the...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Bob Marquez (CRD# 2266269) of Investment Network, Inc., who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his refusal to produce on-the-record testimony as requested by FINRA, in connection with the regulator’s investigation into sales of “pre-IPO” private...
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November 10, 2023 | Broker / Advisor Investigation
National investment fraud lawyers KlaymanToskes is investigating broker Debbie Cavanaugh (CRD# 1268420) of Centaurus Financial, Inc. and Independent Financial Group, LLC, following the filing of a customer complaint alleging $50,000 in investor damages due to unsuitable investment recommendations. Debbie Cavanaugh is also currently facing a regulatory complaint initiated by the Securities and Exchange Commission (“SEC”)....
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Neil Kitchie (CRD# 1429945) of LPL Financial following the filing of a pending customer complaint alleging $50,000 in damages due to unsuitable recommendations to invest in Alternative Investments. According to FINRA BrokerCheck, broker Neil Kitchie is currently registered as a broker and investment advisor with LPL Financial...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Brian Wurdemann (CRD# 4206425) of RBC Capital Markets, who has been permanently barred from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his failure to comply with an Arbitration Award whereby he was order to pay the customer $1,488,650.12, plus interest, attorneys’ fees...
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November 10, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Ross Hoffman (CRD# 803445) of Fortune Financial Services, Inc. and Hoffman & Associates Financial & Estate Advisors, Inc. after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $637,000 in damages due to a 1035 exchange into a new Pacific Life Indexed Universal...
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November 9, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Joseph Hanson (CRD# 5109237) of The O.N. Equity Sales Company (ONESCO) who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following his violation of FINRA rules by allegedly willfully failing to amend his Uniform Application for Securities Industry Registration or...
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November 9, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Victor Furniss (CRD# 5957759) of Cetera Investment Services after a customer complaint alleging $100,000 in investor damages was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging unsuitable investment recommendations and overconcentration in structured products. According to FINRA BrokerCheck, Victor James Furniss is currently registered as a...
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November 9, 2023 | Broker / Advisor Investigation
National investment fraud lawyers KlaymanToskes is investigating broker Atul Makharia (CRD# 5070762) of Centaurus Financial, Inc., following the filing of three pending customer complaints alleging over $500,000 in collective investor damages due to unsuitable recommendations to invest in unsuitable, high-risk, speculative, and illiquid investments. According to a related SEC Order, between June 2016 and July...
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November 9, 2023 | Broker / Advisor Investigation
National investment loss lawyers KlaymanToskes is investigating broker Gustavo Miramontes (CRD# 2338966) of Oppenheimer & Co. following the filing of a pending customer complaint alleging $151,477 in damages due to breach of fiduciary duty, churning, negligence, negligent misrepresentation, falsifying account documentation, and unauthorized trading. According to FINRA BrokerCheck, broker Gustavo Santos Miramontes is currently registered...
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