Retiree Alleges Overconcentration in Spirit of America Energy Fund David Lerner Associates and its registered representative, Gary Walter Isler, are once again the subject of a Financial Industry Regulatory Authority (FINRA) arbitration claim. The claimant, an elderly widow, is accusing them of causing her to suffer significant retirement losses by…
Former LPL Financial Investment Advisor Was Also Was Let Go By Integrated Wealth Concepts The Securities and Exchange Commission (SEC) has filed civil charges accusing former LPL Financial (LPLA) registered representative, Matthew O. Clason, of defrauding an older investor of over $300K. In August, Clason, who worked out of Glastonbury,…
Michigan Stockbroker Was Fired By Securities America Jaime Michael Westenbarger, a former Securities America registered representative in Michigan, is currently named in three pending customer complaints accusing him of negligence and stockbroker fraud. Westenbarger, who was fired by the broker-dealer last year, has been barred by the Financial Industry Regulatory…
Latest FINRA Arbitration Claim Allege REIT Losses A number of investors recently filed a customer complaint against former Kalos Capital broker, Curtis Leroy Whipple, who was with the firm out of Plymouth, Michigan until this year. He faces allegations of unsuitability, misrepresentations, and lack of due diligence related to the…
Stockbroker Marshall Owen Isaacson Named in Four Customer Complaints Since 2019 The Financial Industry Regulatory Authority (FINRA) recently barred Marshall Owen Isaacson, an ex- Newbridge Securities stockbroker based out of Boca Raton, Florida. Isaacson is accused by customers of making unsuitable investment recommendations and committing broker negligence. With 35 years…
Following Bankruptcy Proceedings, Bondholders Turn to FINRA Arbitration Now that Frontier Communications Corp. has filed for bankruptcy protection, investors who bought the company’s bonds may be grappling with how to recover their losses. At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our bond fraud lawyers are here to tell…
Senior Investor’s Loses Retirement Funds Because of Unsuitable Investment An Arkansas retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against LPL Financial for losses he suffered because of the unsuitable recommendation of Rhett Douglas Bedwell, one of the broker-dealer’s former registered representatives. Bedwell, who is no longer…
The Latest Customer Claim Accuses Investment Advisor of Excessive Trading Once again, an investor is blaming former Morgan Stanley stockbroker, Michael Frank Paesano, for their investment losses. These latest allegations involve excessive trading. Although Paesano is no longer a registered broker, he is still a registered investment advisor and he…
Morgan Stanley Settlement Includes FINRA Fine and Investor Restitution According to the Financial Industry Regulatory Authority (FINRA), Morgan Stanley Wealth Management has consented to pay a $175K fine and more than $774K in restitution for allegedly failing to supervise its former broker Kevin Gunnip. The Texas-based financial representative is accused…
Ex-Morgan Stanley Broker Admits To Criminal Investment Fraud, Faces SEC Charges Michael Barry Carter, a former Morgan Stanley (MS) broker, has pleaded guilty to federal investment fraud and wire fraud charges involving a scam in which he defrauded five customers. This included at least one elderly client, of more than…