The team at Meyer Wilson diligently investigates potential claims against financial advisors and investment advisers for allegations of misconduct by the investing public and securities regulators. Many disclosures that are reflected on the public databases of FINRA and the SEC include allegations of unsuitable investment recommendations, unauthorized trading, misrepresentations, and more. These public disclosures are important to help investors make informed decisions about the financial professionals they choose to trust with their savings.
If you have any questions about your investment losses, give us a call. Our case consultations are free, and we can help determine whether your investment losses were the result of normal market forces or misconduct by Wall Street.
Employers: MML Investor Services, LLC & NYLIFE Securities LLC
Allegations: Adly failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Outcome: SUSPENDED
Employers: AXA Advisors, LLC & NYLife Securities LLC
Allegations: Carberry failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Outcome: SUSPENDED
Employers: Morgan Stanley & Citigroup Global Markets Inc.
Allegations: Cederfranco failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Outcome: SUSPENDED
Employers: AXA Advisors, LLC & Merrill Lynch, Pierce, Fenner & Smith Inc
Allegations: Gopie was discharged after inconsistencies were found on insurance applications.
Outcome: TERMINATED & SUSPENDED
Employers: Newbridge Securities Corp & Ameriprise Financial Services, Inc.
Allegations: Magarelli failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Outcome: SUSPENDED
Employers: J.P. Morgan Securities LLC & Geneos Wealth Management, Inc.
Allegations: Euan was found to have Misappropriated funds.
Outcome: BARRED & TERMINATED
Employers: Lincoln Financial Advisors Corporation & Valic Financial Advisors, Inc.
Allegations: A client alleged the RR processed withdrawals from his variable annuity without his consent and harming the guarantees provided by the annuity.
Outcome: BARRED
Employers: Securian Financial Services, Inc. & AXA Advisors, LLC
Allegations: Misrepresentation and unsuitable recommendation involving use of IRA annuity proceeds to fund a life insurance policy.
Outcome: BARRED
Employers: The Huntington Investment Company & Fifth Third Securities, Inc.
Allegations: Registered Representative (RR) failed to disclose three outside business activities, two of which were investment-related. In addition, Firm had concerns that RR engaged in cryptocurrency activity in contravention of Firm policy.
Outcome: BARRED & TERMINATED
Employers: MML Investors Services, LLC & NYLife Securities LLC
Allegations: Undisclosed outside business activities involving the comingling of customer funds in an account controlled by the registered representative.
Outcome: BARRED & TERMINATED
Employers: Simplified Wealth Management & LPL Financial LLC
Allegations: Carpenter failed to respond to FINRA request for information.
Outcome: SUSPENDED
Employers: Allstate Financial Services, LLC
Allegations: Termination by parent property and casualty insurance company after allegations of using a personal email address to electronically sign documents for customer on a life insurance policy.
Outcome: BARRED & TERMINATED
Employers: AWA Capital, Inc & Comprehensive Asset Management & Servicing, Inc.
Allegations: Rep arranged a private loan between two individuals, the lender was a client of the firm.
Outcome: TERMINATED & SUSPENDED
Employers: Charles Schwab & Co., Inc.
Allegations: Allegations concerning Ms. Mahdak's transfers of funds with a former co-worker.
Outcome: BARRED & TERMINATED
Employers: Wells Fargo Clearing Services, LLC
Allegations: A client of representative Reilly complained that the portfolio strategy employed by her financial advisor did not meet her investment objectives. Reilly has been the subject of several similar complaints, some of which have been settled by Wells Fargo.
Outcome: PENDING/SETTLED
Employers: Lincoln Financial Advisors Corporation
Allegations: Customers of Eisenberg allege their representative recommended an unsuitable investment in an oil & gas program, causing them to lose a significant amount of their investment.
Outcome: PENDING
Employers: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Allegations: The client alleges unauthorized trading and unsuitable investment recommendations from March 2021 through February 2022. With no further information available, Merrill Lynch settled this issues with $366,000 and reported the complaint after the settlement.
Outcome: SETTLED
Employers: LPL Financial LLC
Allegations: Allegations Representative Pincus is accused of misrepresenting unsuitable Real Estate Securities for his client, creating untold losses.
Outcome: PENDING
Employers: Aegis Capital Corp LPL
Allegations: Representative Brookeman's most recent allegations concern an investment strategy in certain equities that may have been inappropriate for him to recommended, given his client's investment objectives and risk tolerance. That complaint, stemming from his time with LPL, is still pending, but he has been the subject of previous, similar complaints that were settled by his prior employers.
Outcome: PENDING/SETTLED
Employers: Commonwealth Financial Network
Allegations: Client alleges that representative Whalen recommended several unsuitable alternative investments, including corporate debt and Real Estate Securities that created losses of over one million dollars. A previous complaint for unsuitability was made against the broker.
Outcome: PENDING
Employers: Northwestern Mutual Investment Services, LLC
Allegations: Representative Davis is the subject of two recent complaints involving Variable Universal Life Insurance policies. The clients alleged that the broker did not include all the necessary information in their recommendation. Northwestern Mutual Investment Services has settled claims with each customer.
Outcome: SETTLED
Employers: Cape Securities Inc., Berthel Fisher
Allegations: In a Statement of Claim filed with FINRA, a customer has alleged that representative Dorn made fraudulent misrepresentations and omissions in recommending unsuitable securities. The claims are in connection with speculative investments, including an automotive dealership, a viatical life insurance policy and other real estate assets beginning in 2017. The broker has previously been the subject of similar allegations.
Outcome: PENDING/DEIGNED/SETTLED
Employers: Lincoln Financial Advisors Corporation
Allegations: In a claim filed with FINRA, a customer alleged the Lincoln Financial Advisors broker, Michael McFelley, recommended an unsuitable Oil & Gas investment resulting in losses.
Outcome: PENDING
Employers: Charles Schwab & Co., Inc.
Allegations: The client alleges the representative recommended an investment strategy that was not in the client's best interest, resulting in a loss of $300,000.
Outcome: PENDING
Employers: United Planners Financial Services of America A Limited Partner
Allegations: In a recently filed FINRA Arbitration Claim, it was alleged that representative Dulac invested his client into an Alternative Investment that led to a significant loss.
Outcome: PENDING
Employers: Cabin Securities, Inc., Berthel Fisher & Co.
Allegations: Recent complaints against Daniel Barnard allege that prior to his termination from Berthel Fisher & Co., he recomended illiquid, unsuitable alternative investments, including Oil and Gas investments, Real Estae and Direct Investments. B&F has already settled one of these claims. The broker has been the subject of previous allegations of misrepresentation and unsuitablitiy and has been terminated on two occasions for borrowing money and impersonating a client on the telephone.
Outcome: PENDING/SETTLED/TERMINATED
Employers: Cadaret, Grant & Co., Inc.
Allegations: Recently, a customer of Cadaret Grant & Co., alleged that their representative, Brian Clark was responsible for over $800,000 in losses due to excessive trading of inappropriate investments during Clark's time with Cadaret and Petersen Investments. Over the years, Clark has been the subject of a total of 8 customer complaints for excessive trading, negligence, unsuitable investments and unauthorized trading. Some claims have been settled, while FINRA has also awarded compensation to other complainants. Representative Clark was also terminated from his previous employer, Merrill Lynch.
Outcome: PENDING/SETTLED
Employers: Silver Oak Securities, Incorporated, LPL Financial
Allegations: Advisor Christopher Watkins, who was terminated by his former employer, LPL, and is now employed with Silver Oak Securities, has been the subject of several complaints alleging he recommended unsuitable investments to his customers, including Alternative Investments. At least one of these complaints has been settled by the broker's former employer.
Outcome: DENIED/SETTLED/TERMINATION
Employers: Centaurus Financial, Inc.
Allegations: Cindy Lucille Porto Chillini, who also goes by Cindy Porto is a registered representative of Centaurus Finanical LLC. She is the subject of nearly 40 complaints of stockbroker misconduct. Allegations range from unauthorized trading in her customers account to recomending unsuitable, illiquid investments, including structured notes, corporated debt and real estate securities, which created significant losses in her clients' investment portfolios. The brokerage frim has settled many of these claims offering monetary compensation to many of Chillini's clients.
Outcome: PENDING/SETTLED
Employers: Cetera Investment Services LLC
Allegations: Rodney Scott, a representative of Cetera Investment Services has been accused by a customer of misrepresenting an alternative investment sold to them in the form of a Unit Investment Trust. The broker has a history of financial issues.
Outcome: PENDING/FINANCIAL
Employers: J.P. Morgan Securities LLC
Allegations: A recent complaint agaisnt J.P. Morgan Securtieis broker, Russell Bedore alleges that the broker sold their client unsuitable investments which created significant losses. The broker has previously been the subject of a similar allegation.
Outcome: DENIED
Employers: Charles Schwab & Co., Inc.
Allegations: Charles Schwab & Co. broker Jason Covington was recently accused of providing investment advice that was inconsistent with his customers objectives, leading to tax cosequecents. The customer's claim was settled by the brokerage firm. In the past, the broker has been the subject of another complaint involving mismanagement of an account that resulted in Schwab paying a significant settlement to the client.
Outcome: SETTLED
Employers: Cape Securities Inc., Merrill Lynch
Allegations: While with his former employer, Merrill Lynch, it was alleged that representative Greg Bentley requested and received a loan from a female customer. According to FINRA Rule 3240, No person associated with a member in any registered capacity may borrow money from or lend money to any customer of such person unless certain, strict rules are met and the firm approves.
Outcome: TERMINATION
Employers: A.G.P. / Alliance Global Partners, National Securities Corporation
Allegations: In two recently filed complaints against representative James Devary, it was alleged that the Private Placements the sold to his customers were unsuitable and created a significant loss. Both complaints were settled by National Securities Corporation. The broker was previously accused on unauthorized trading in his client's accounts.
Outcome: SETTLED
Employers: Woodmen Financial Services, Inc.
Allegations: A client of Richard Willis recently complained of an unsuitable annuity exchange recommended by the broker. As a result of the complaint, the broker was terminated by the brokerage firm. This marks the third time Willis has been discharged from the firm following allegations.
Outcome: Termination
Employers: Charles Schwab & Co., Inc.
Allegations: The client alleges the representative recommended an investment strategy that was not in the client's best interest, resulting in a loss of $300,000.
Outcome: PENDING
Employers: Berthel, Fisher & Company Financial Services, Inc.
Allegations: In a complaint that has evolved into Arbitration, a customer of Berthel Fisher & Co. has alleged that Jason Cook overconcentrated their portfolio into unsuitable, illiquid Private Placements, including Direct Investment DDP's and Real Estate Securities causing Cook's client to lose a significant amount of their investment. A similar customer allegation was recently withdrawn.
Outcome: PENDING
Employers: PNC Investments
Allegations: In two, separate, recently settled complaints, customers of PNC Investments representative Timothy Albert have alleged that he sold them alternative investments that were inconsistent with their objectives and risk tolerance.
Outcome: SETTLED
Employers: LPL Financial LLC, Wells Fargo
Allegations: In a recent complaint against Vladislav Romanov, a customer alleges that losses created in their Wells Fargo account, due to foreign investments, exceeded their tolerance. Romanov's previous firm settled a similar claim involving foreign investments.
Outcome: PENDING/SETTLED
Employers: Jeffrey Atkinson
Allegations: A client of Jeffrey Atkinson has recently accused hi on failing to follow instructions to safeguard his account, resulting in a significant loss. The Edward Jones broker has been the subject of multiple allegations of misconduct int he past, some of which were settled by the broker's previous employer. The broker was also previously suspended by the NASD/FINRA.
Outcome: PENDING/SETTLED/SUSPENSION
Employers: G.A. Repple & Company
Allegations: G.A. Repple representative Paul Witthauer is accused of recommending illiquid Private Placements, included GWG L Bonds.
Outcome: PENDING
Employers: Morgan Stanley
Allegations: A client has recently alleged that representative McGinley overconcentrated their account in closed-end funds that created significant losses in their portfolio. Patricia McGinley was the subject of previously filed Arbitrations against their employer, that resulted in awards for the customers that filed them.
Outcome: PENDING/AWARD
Employers: UBS Financial Services Inc.
Allegations: Representative Christopher Black is the subject of multiple pending allegations and one arbitration award. Black's customers allegedly experienced significant losses utilizing his Yield Enhancement Strategy, which involved misleading recommendations to invest in and hold in an unsuitable options overlay strategy, hedge funds, structured notes, and private equity funds.
Outcome: Pending/Award
Employers: SA Stone Wealth Management Inc.
Allegations: Representative Perkins was accused of enticing his client to invest their money with a third party without assessing risk, creating a significant loss for the client.
Outcome: Pending civil litigation
Employers: Triad Advisors LLC
Allegations: A customer of representative Chitwood has alleged negligence, overconcentration, and unsuitable recommendations with regard to alternative investments, including private funds at real estate securities. The client has claimed losses of one million dollars.
Outcome: Pending
Employers: Lincoln Financial Advisors Corporation
Allegations: Customers of Eisenberg allege their representative recommended an unsuitable investment in an oil & gas program, causing them to lose a significant amount of their investment.
Outcome: pending
Employers: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Allegations: The client alleges unauthorized trading and unsuitable investment recommendations from March 2021 through February 2022. With no further information available, Merrill Lynch settled this issues with $366,000 and reported the complaint after the settlement.
Outcome: Settled
Employers: LPL Financial LLC
Allegations: Representative Pincus is accused of misrepresenting unsuitable Real Estate Securities for his client, creating untold losses.
Outcome: Pending
Employers: Aegis Capital Corp. LPL
Allegations: Representative Brookeman's most recent allegations concern an investment strategy in certain equities that may have been inappropriate for him to recommended, given his client's investment objectives and risk tolerance. That complaint, stemming from his time with LPL, is still pending, but he has been the subject of previous, similar complaints that were settled by his prior employers.
Outcome: Pending/Settled
Employers: Commonwealth Financial Network
Allegations: Client alleges that representative Whalen recommended several unsuitable alternative investments, including corporate debt and Real Estate Securities that created losses of over one million dollars. A previous complaint for unsuitability was made against the broker.
Outcome: Pending
Employers: Northwestern Mutual Investment Services, LLC
Allegations: Representative Davis is the subject of two recent complaints involving Variable Universal Life Insurance policies. The clients alleged that the broker did not include all the necessary information in their recommendation. Northwestern Mutual Investment Services has settled claims with each customer.
Outcome: Settled
