Ryan K Gonzales (“Ryan Gonzales”) was voluntarily terminated from JPMorgan Securities as of January 3, 2022 for his failure to improve performance following coaching and for marking solicited trades as unsolicited related to a mutual fund.
According to FINRA BrokerCheck, Ryan Gonzales has been in the securities industry for approximately twenty three years. Ryan Gonzales has passed five professional examinations and was registered as a broker or investment advisor with numerous firms including:
In late 2008, FINRA received a customer complaint from a client of Mr. Gonzales. The client alleged that Mr. Gonzales gave misrepresentations and unsuitable advice related to a mutual fund. The claim was denied only about six weeks later.
The FINRA suitability rule applies to a financial advisor’s investment advice regardless of whether it is a buy, sell or hold recommendation. FINRA established the “suitability” rule requiring brokerage firms and its financial advisors to have a “reasonable basis” for recommending investments or investment strategies, as suitable based on a customer’s investment profile. The rule requires “reasonable diligence” to gather all necessary information to formulate a basis for recommendations based on the following customer investment profile information. The rule applies a flexible approach to the facts and circumstances of a particular customer recommendation. The financial advisor must have a firm understanding of both the investment itself and the customer.
Failure to supervise a financial advisor’s understanding of how a particular investment works or what a specific client needs is at a minimum the basis for a negligence claim as another violation of the FINRA sales practice rules and regulations.
John Blake Taylor (CRD# 736403) was voluntarily terminated from AE Wealth Management LLC as of January 3, 2022 for his violation of policies and procedures relating to the use of email, certifications, and other compliance requirements.
According to FINRA BrokerCheck, John Taylor has been in the securities industry for around thirty one years. John Taylor has passed four professional examinations and was employed at the following firms:
According to Financial Industry Regulatory Authority, brokerage firms are responsible for the supervision of all the activities of its financial advisors. FINRA rules require the supervision of financial advisor as well as compliance with the securities industry standards of care for the handling of customer accounts as reflected in brokerage firm compliance manuals. The financial brokerage firm compliance manuals provide written procedures designed to achieve compliance with security industry rules and regulations by financial advisors of the firm
Brokerage firm computerized systems monitor the activities of financial advisors designed to supervise the specific activities related to the type of business conducted at the branch office. Branch office managers are the first line of defense to protect the investors from violations of FINRA rules and regulations. Brokerage firms and branch office manager are responsible for the supervision of financial advisor:
If an investor suffers losses as a result of a failure to supervise they may be able recover their losses in a FINRA arbitration claim for damages.
Erik John Bach (CRD# 6913633) was terminated employment with Wells Fargo Clearing Services, LLC as of January 4, 2022 based on allegations that he marked a bank Customized Summary Form and a closing agreement for safe deposit box rather than obtaining the required bank customer’s signatures in order to complete the form and agreement. This activity was not related to the securities business of Wells Fargo Clearing Services, LLC.
According to FINRA BrokerCheck, Erik Bach has been in the securities industry for approximately four years. Erik Bach has passed four professional examinations and was only registered as a broker or investment advisor with one brokerage firm to-date. Erik Bach was registered with Wells Fargo Clearing Services, LLC in Apex, NC from May 30, 2018 to January 21, 2022.
Kelly Durham (CRD# 4281888) was terminated from employment with RBC Capital Markets, LLC as of January 4, 2022. She was discharged based on allegations of violation of the Firm’s Employee Alteration and Execution of Client Documents Policy.
According to FINRA BrokerCheck, Kelly Durham has been in the securities industry for around sixteen years. Kelly Durham has passed four professional examinations and was registered as a broker or investment advisor with six firms:
Lisa Maria Idlett (CRD# 2932198) has been discharged from her employment with Wells Fargo Clearing Services, LLC as of January 4, 2022. Lisa Idlett’s termination of employment was based on an investigation conducted by Wells Fargo Bank that concluded that the Licensed Banker forged a client’s name on multiple checks drawn on the client’s Wells Fargo Bank account payable to that same Licensed Banker. The uncovered activity was not related to the securities business of Wells Fargo Clearing Services, LLC.
According to FINRA BrokerCheck, Lisa Idlett has been in the securities industry for around twenty four years but is not registered with any states. Lisa Idlett has passed three professional examinations and was registered as a broker or investment advisor with two firms:
Former customers of RyanGonzales, John Taylor, Erik Bach, Kelly Durham, or Lisa Idlettwith losses in excess of $100,000, and those who have information relating to the manner in which any of these financial advisorshandled customer accounts, are encouraged to contact Lawrence L. Klayman, Esq., at 1-888-997-9956, and download our Special Investor Report.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation, on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm represents all investors who have lost money due to financial fraud or mismanagement. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com