Articles Posted in Summit Brokerage Services

Former New Port Richey, FL broker is also accused of selling away Francis Joseph Velten, most recently an Ameriprise Financial Services broker, is now barred by the Financial Industry Regulatory Authority (FINRA). He’s accused of churning in older investors’ accounts and encouraging them to surrender their annuities and mutual fund…

For alleged supervisory failures and excessive trading by one of its former brokers, Summit Brokerage Services, Inc. has been ordered to pay over $880K– $558K in restitution with interest to customers that were harmed,  as well as a $325K fine to the Financial Industry Regulatory Authority (FINRA). The broker-dealer consented…