Financial Firms

Customers of Former Worden Capital Management Broker Christ Baltas Request Over $614K in Damages

Published on: August 31, 2021 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Barred New York Financial Advisor Following Unsuitability & Churning Allegations

If you have suffered investment losses while working with ex-Worden Capital Management broker Christ Elias Baltas, you may be able to pursue damages by filing a Financial Industry Regulatory Authority (FINRA) arbitration claim.

Baltas, who was based out of Melville, New York, is currently named in two pending customer disputes in which the claimants are seeking more than $614K in damage. FINRA barred him in 2020.

SSEK Law Firm Continues to Investigate Former J.P. Morgan Broker Ed Turley

Published on: August 30, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Customers of San Francisco Financial Advisor Seek More Than $62 Million in Damages

Our broker misconduct attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are continuing to investigate claims of losses involving ex-J.P. Morgan Securities stockbroker, Edward L. Turley.

Although Turley’s BrokerCheck record notes that he is still registered with the brokerage firm, reports indicate that the San Francisco-based financial advisor is no longer with J.P. Morgan. AdvisorHub reports that according to sources, he either left the broker-dealer or was fired.

SSEK Law Firm Wins $400K UBS YES FINRA Arbitration Award For Investors

Published on: August 26, 2021 | by Shepherd Smith Edwards & Kantas, LLP

$400K UBS YES FINRA Arbitration Awarded to Investors in Baltimore, Maryland

In one of the first in-person arbitration in the last 18 months, a Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded two investors $405K in their UBS Yield Enhancement Strategy claim against UBS Financial (UBS).

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) represented these UBS YES strategy investors in their FINRA arbitration case, which was heard in Baltimore, Maryland.

Former LPL Financial Broker Kevin McCallum Facing Over $4.8M in FINRA Arbitration Claims

Published on: August 24, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Glacier Point Advisors Managing Partner is Ordered to Pay Customers More Than $1.2M in Restitution

Kevin Marshall McCallum, a former LPL Financial stockbroker and the Managing Partner of Glacier Point Advisors has been suspended by the Financial Industry Regulatory Authority (FINRA) for a year.

McCallum is ordered to pay over $1.2M, along with interest, in deferred restitution to customers. He is currently facing more than $4.8M in FINRA arbitration claims from investors for their losses.

Chinese Retiree Pursues Up To $500K From Cetera Over PB Investment Holdings Losses

Published on: August 23, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Retiree Suffers Significant Losses in PB Investment Holdings on Recommendation of Cetera Financial Advisor

A Chinese national has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim over losses she suffered after a Cetera Investment Services advisor unsuitably recommended and sold a PB Investment Holdings annuity to her.

The Bermuda-based off-shore investment (affiliated with Northstar Bermuda) was touted as safe and low risk. That entity is in liquidation and has caused this claimant, who is a retiree, significant losses. She is now seeking six figures in damages from Cetera Financial.

Ex-SagePoint Financial Broker Grant Birkley Faces $2.3M of Investor Fraud Claims

Published on: August 20, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Barred SagePoint Financial Broker Accused of Selling Away

Grant Christopher Birkley, an ex-SagePoint Financial stockbroker, is named in two pending customer disputes. He is accused of selling investment products that were not approved by his firm.

SagePoint Financial fired him last August after he admitted to making referrals to an external manager without the broker-dealer’s approval. In June, FINRA barred Birkley indefinitely after he declined to provide documents and information related to the self-regulatory authority’s probe into his termination by SagePoint.

Customers of Ex-Aegis Capital Broker Scott Hananel Claim Investment Losses

Published on: August 19, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Former Melville, NJ Financial Advisor Has Been Named in Six Disputes

If you have suffered investment losses while working with ex-Aegis Capital stockbroker Scott Neil Hananel, contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) so that we can help you explore your legal options.

Hananel, who is no longer a registered financial advisor, has been named in six customer disputes over the years. A few of them are still pending. BrokerCheck notes the disputes on Hananel’s record:

$500K Northstar Financial Services (Bermuda) Claim Brought Against Truist Investment Services by Venezuelan Investors

Published on: August 12, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Claimants are Older South American Investors Who Suffered Six-Figure Loss

Two investors have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Truist Investment Services, Inc., which is the broker-dealer unit of SunTrust Investment Services. The claimants, who are related, are seeking up to $500K plus interest and costs after they suffered investment losses in Northstar Financial Services (Bermuda). A panel of arbitrators will hear their case in Boca Raton, Florida.

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is representing these South American investors in fighting to recover their losses sustained after their Truist broker unsuitably recommended and sold Northstar Financial Services (Bermuda) products to them. If you too suffered similar losses, contact us today.

Inappropriate COVID-19 Loan Applications Led To FINRA Sanctions for Brokers From Wells Fargo, J.P. Morgan Securities, and Merrill Lynch

Published on: August 9, 2021 | by Shepherd Smith Edwards & Kantas, LLP

COVID Relief Loans Involved Undisclosed Business Outside Their Brokerage Firms

According to InvestmentNews, ex-J.P. Morgan Securities broker Gloria Willis, former Merrill Lynch stockbroker Evelyn Batista, and ex-Wells Fargo financial advisor Kenric Sexton have either been barred or suspended from the securities industry.

These Financial Industry Regulatory Authority (FINRA) sanctions were imposed after the self-regulatory organization (SRO) found that all three of them either inappropriately or incorrectly applied for federal COVID-relief loan programs geared towards small businesses in the wake of the coronavirus pandemic.

Another Ex-Worden Capital Management Broker, Joseph Todaro, is Accused of Excessive Trading

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

Ex-Worden Capital Management Broker’s Customer is Seeking Over $200K in Damages

Joseph Paul Todaro, currently an SW Financial registered representative, is named in a customer dispute in which the claimant is reporting investment losses from excessive trading, failure to follow instructions, and poor services. The investor is seeking over $200K.

This is not the first customer of the Melville, New York-based broker to accuse Todaro of excessive trading. As a matter of fact, three other claims brought by his customers make similar allegations. Also, from 2018 to 2020, Todaro was a registered representative with Worden Capital Management, which last year was subject of a Financial Industry Regulatory Authority (FINRA) action related to the churning activities of its brokers.