Financial Firms

SSEK Law Firm Client of Fired J.P. Morgan Securities Broker Ed Turley Wins $4 Million FINRA Arbitration Award

Published on: December 13, 2021 | by Shepherd Smith Edwards & Kantas, LLP

SSEK Law Firm Represented Client of Fired J.P. Morgan Securities Broker, Ed Turley, and Wins $4 Million FINRA Arbitration Award

A Financial Industry Regulatory Authority (FINRA) arbitration panel in Houston, Texas has awarded a client of Shepherd, Smith, Edwards & Kantas (SSEK Law Firm at investorlawyers.com) $4 million in compensatory damages over losses she sustained while working with ex-J.P. Morgan Securities stockbroker, Edward Turley.

Not only did this ex-San Francisco-based financial advisor unsuitably invest her in products that were too risky, but he and the firm also used a complex strategy that involved borrowing on margin without her knowledge. Tragically, the client lost millions of dollars while Ed Turley and J.P. Morgan profited significantly from her account.

Former Morgan Stanley Broker Jesus Rodriguez Is Barred by FINRA

Published on: December 7, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ex-El Paso Financial Advisor Allegedly Took Over $61K From Client Credit Line

On November 29, 2021, the Financial Industry Regulatory Authority (FINRA) barred Jesus Rodriguez. The former Texas broker was accused of taking over $61K from a client credit line for his own use. The sanction came after he refused to cooperate in the self-regulatory organization’s (SRO’s) investigation. Rodriguez is also named in several customer disputes.

Our broker misconduct attorneys are speaking with former customers of ex-Morgan Stanley financial advisor Jesus Rodriguez that have suffered investment losses. We can help you determine whether you have grounds for a FINRA arbitration claim.

Retiree Files 7-Figure Northstar Financial Services (Bermuda) Claim Against Cetera

Published on: December 6, 2021 | by Shepherd Smith Edwards & Kantas, LLP

A Claimant is Requesting Up to $5M in Damages For Northstar (Bermuda) Losses

An older investor has filed a FINRA arbitration claim over losses she sustained in Northstar Financial Services (Bermuda) while working with Cetera Investment Services, LLC. The claimant is a retiree and a foreign national who had an account at a US bank. It was the bank that introduced her to the Cetera financial advisor.

Seeking to keep her assets safe, she entrusted the recommendations of her Cetera Investment Services broker, who then proceeded to unsuitably recommend Northstar Financial Services (Bermuda), essentially overconcentrating 100% of her account with this offshore entity.

Customers Accuse Ex-Cetera Broker Robert Wolfe of Unsuitability and Omissions

Published on: December 6, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Fort Lauderdale, Florida Financial Advisor is Named in Six-Figure Customer Dispute

Robert Brian Wolfe, who was a Goldman Sachs broker from July 2020 to October 2021, was recently dismissed by the broker-dealer. His firing came following allegations related to client communications involving market valuations and portfolio performance, as well as his handling of customer grievances without the firm’s knowledge or approval.

A longtime financial advisor of 21 years in Fort Lauderdale and Miami, Wolfe has been named in five customer disputes. According to sources, all of the claims that have been brought as of November 2021 are from his time as a Cetera Advisors Network broker from 2017 to 2020.

MML Investors Services Broker Daniel Lauletta Named in $1M Customer Dispute

Published on: December 2, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ohio Financial Advisor is Accused of Negligence and Unsuitability

Daniel James Lauletta, an MML Investors Services stockbroker and investment advisor, is currently named in three pending customer disputes, including one in which the claimant is requesting $1M in damages. The Broadview, Ohio financial advisor has worked in the industry for 25 years.

Our broker misconduct attorneys are looking into further claims of losses by current and former customers of Daniel Lauletta. Please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) so that we can help you determine whether you have grounds for a FINRA arbitration case to recover damages.

Customers of Ex-Arkadios Capital Broker Marc Korsch Claim $2.8M in Damages

Published on: November 18, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Arkadios Capital Financial Advisor is Accused of Unsuitability & Concentration

A former broker and investment advisor, Marc Frederick Korsch, is currently named in several pending customer disputes in which, as of November 2021, the claimants are still seeking to recover $2.8M in damages.

Korsch was an Arkadios Capital financial advisor for six months until early September 2021. The investor claims naming him appear to be from his time with other broker-dealers including:

Aegis Capital To Pay $2.75M For Churning in FINRA Case

Published on: November 17, 2021 | by Shepherd Smith Edwards & Kantas, LLP

68 Customers To Receive Restitution From NY-Based Broker-Dealer, Aegis Capital

The Financial Industry Regulatory Authority (FINRA) has sanctioned Aegis Capital, which will pay about $2.8M for the excessive and unsuitable trading that allegedly took place in dozens of customers’ accounts.

Of this amount, $1.7M in restitution will go to 68 customers who were potentially harmed. The remaining $1.1M is a fine the broker-dealer will pay for related supervisory violations involving Aegis brokers Roberto Birardi and Joseph Giordano.

SSEK Law Firm Continues to Investigate Hancock Whitney Broker Robin Platt Over Investors’ Northstar Financial Services (Bermuda) Losses

Published on: November 15, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Financial Advisor May Have Unsuitably Recommended Off-Shore Annuities To Multiple Latin American Customers

If you are an investor who lost money after you were sold Northstar Financial Services (Bermuda) products, seek legal advice today as you may have grounds for a FINRA arbitration case.

Our seasoned Northstar Financial Services (Bermuda) attorneys are continuing to investigate Hancock Whitney Investment Services broker Robin Platt for selling and marketing investments of this off-shore entity to his customers.

Cetera Advisors Broker Jeffrey Meyers Accused of Making Unsuitable REIT Investment Recommendations

Published on: November 10, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Hospitality Investors Trust Was One of the REITs Marketed

Cetera Advisors Network broker Jeffrey Gerard Meyers, an Overland Park, Kansas financial advisor, is named in two pending customer disputes.

The claimants are accusing him of making unsuitable investment recommendations involving non-liquid real estate investment trusts (REIT). One of the products was Hospitality Investors Trust (HIT REIT), which declared bankruptcy after the COVID-19 pandemic began.

FINRA Bars Ex-Wells Fargo Broker James Seijas Who Is Accused In More Than $33M Ponzi Scam

Published on: November 4, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Former New Jersey Financial Advisor Allegedly Targeted Florida Doctors

James Alan Seijas, an ex-Wells Fargo Clearing Services broker, was barred by the Financial Industry Regulatory Authority (FINRA) beginning November 2, 2021. The former New Jersey investment advisor did not provide information in the self-regulatory organization’s (SRO’s) investigation into his alleged involvement in an over $33M Ponzi scam.

Seijas, ex-UBS broker Michael Ackerman, and general surgeon Quan Tran are accused of running a cryptocurrency scam that targeted mostly Florida doctors through the entity Q3 Trading Club from 2017 to 2019. This would have been during Seijas’ time as a Wells Fargo registered representative.