Category Archives: Cetera Advisors

James Franklin – Former Investors Capital Corp. Broker- Discloses Customer Dispute- Houston, TX

June 2017 – Houston, TX

According to publicly available records James A. Franklin  (CRD#4799613) ,  a  stockbroker who currently is employed by 1st Global Capital Corp.  discloses a pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In April of 2017,  a customer of Investors Capital Corp.  filed a customer dispute for damages of  $50,000  alleging that Franklin misrepresented the liquidity of REITs sold to him.

Franklin has been employed by 1st Global Capital since March of 2017.    He was with Cetera Capital Corporation  from October of 2016 to March 2017, and with Investors Capital Corporation beginning in September 2010. Franklin discloses a business affiliation with Molen Financial LLC.

If you have questions about an account handled by James A. Franklin , contact us to discuss your options.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Bernard Breton -Cetera Advisors Broker-Discloses Pending Customer Dispute- Parker, CO.

April 2017-Parker, CO

According to publicly available records Bernard A. Breton, (CRD#2030660) ,  a  stockbroker who is currently registered with  Cetera Advisors, discloses a pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA case #15-03220, a customer of Cetera Advisors alleges that the firm failed to supervise broker Abraham Heimann‘s trading activities and seeks damages in the amount of $876,195. Breton discloses that he was named as a result of his position as Vice President of Cetera Advisors and claims he did not have any involvement with the sales of the investments in this claim.

Breton has been employed with Cetera Advisors  since 1/2013  and was previously employed by Investors Capital Corp.

See this for more information on Investors Capital Corp’s prior regulatory problems. 

If you have questions about an account in an account handled by Bernard Breton contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

Frederick P. Baerenz-Kalos Capital Broker-Ordered to Pay Customer $331K-Great Falls, VA

May 2017-Great Falls, VA

The FINRA records of  Frederick P. Baerenz,  a  stockbroker who is currently  registered with Kalos Capital  disclose that a FINRA arbitration panel awarded damages to a customer Baerenz recently.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA arbitration 15-0443, a customer of Kalos Capital and Pacific West Securities alleged damages of over $1 million for unsuitable trading and negligence in connection with an investment in equipment leasing, oil & gas and real estate investments. The three member arbitration panel awarded $331,000 to Baerenz’s former customer. Bond, et al v Baerenz. 

Frederick P. Baerenz has been employed by Kalos Capital since 5/2013. He was employed by Cetera Advisors from 12/2011-5/2013 and Pacific West Securities 9/2004-12/2011.

If you have questions about an account  handled by Frederick P. Baerenz , contact us to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Christopher R. Hickman-Former Cetera Advisors Broker-Discloses Settlement of Customer Disputes-Delray Beach, FL

June 2017-Delray Beach, FL

The FINRA records of  Christopher R. Hickman ,  a  former stockbroker who was last employed as a broker by Cetera Advisors and who is not currently registered, disclose a final regulatory matter, a pending customer dispute and  6 prior  customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In June 2017 FINRA suspended Hickman for five months , ordered restitution of over $115,000 and assessed a $5,000 fine to resolve allegations that he engaged in an unsuitable pattern of short term trading of unit investment trusts (UITs) in six customer accounts. The findings state that Hickman repeatedly recommended the purchase of UITs and then the sale of them within a year of purchase, notwithstanding the fact that the UITs had 24 month maturity dates and sales charges of 3.95%. In addition, on several occasions, Hickman recommended that his customers use proceeds from the sale of the UITs to purchase another nearly identical UIT.

In currently pending FINRA arbitration 17-01056, a customer of Cetera Advisors seeks damages of $265,000 and alleges breach of fiduciary duty, violation of FINRA rules and elder abuse.

The prior customer disputes include:

  • FINRA Case 9-05733-A customer of Banc of America Investment Services alleged damages of $334,942 for unsuitable investments and unauthorized trading. That case was settled for $75,000.
  • FINRA Case 9-5493-A customer of Banc of America Investment Services alleged damages of $1.5 million for unsuitable investments and misrepresentations. That case was settled for $650,000.

Hickman  was employed by Cetera Advisors from 9/2009-7/2015. Prior to that he was employed by Banc of America Investment Services from 3/2006-8/2009. Hickman also discloses a business affiliation with Premier Client Investments.

In 2015, Cetera Advisors was censured, fined $250,000 and ordered to pay restitution of over $450,000 for charging excessive sales fees to customers who purchased unit investment trusts (UITs).

If you have losses in an account in an account handled by Christopher R. Hickman , you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Abraham Heimann-Former Cetera Advisors Broker-Discloses Customer Disputes Seeking $3M-Alpharetta, GA

May 2017-Alpharetta, GA

According to publicly available records Abraham Heimann, (CRD#1315922) ,  a  stockbroker who is not currently registered with any brokerage firm discloses three currently pending customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA case #17-1009, a customer of Heimann while he was employed at Oppenheimer and then Cetera Advisors alleges damages of $30,000 against Cetera and $300,000 against Oppenheimer for breach of fiduciary duty, fraud, failure to supervise, unauthorized trading, excessive fees, costs and commissions and negligence for the way his account was handled.

In currently pending FINRA case #17-0766, a customer of Heimann while he was employed at Oppenheimer and then Cetera Advisors alleges damages of $2,000,000 for breach of fiduciary duty, fraud, failure to supervise, unauthorized trading, excessive fees, costs and commissions and negligence for the way his account was handled.

In currently pending FINRA case #15-03220 , another customer of Heimann while he was employed at Oppenheimer and then Cetera Advisors alleges damages of $876,195 for unsuitable investing, unauthorized trading, negligence, breach of fiduciary duty and misrepresentation. The investments alleged to be unsuitable are oil & gas, penny stocks and medical investments.

Heimann was employed by Cetera Advisors  from 6/2013-2/2016.  He was with Oppenheimer & Co. from 1/2002-7/2013. Heimann discloses business affiliations with Alpha Insurance Mart, Global Investments LLC,  and Danlee International.

We are currently evaluating potential cases against the firms who employed Abraham Heimann.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Gerard Figari of Loyd Capital Performance Partners -Discloses Settlement of Customer Disputes-Stuart, FL

April 2017- Stuart, FL

According to publicly available records Gerard G. Figari, (CRD#1343962) ,  a  stockbroker who was previously registered with Investors Capital Corp. discloses 5 prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA case #12-1768 a customer of Investors Capital Corp. alleged damages of $400,000 in connection with a direct investment in Reef Income & Development Fund. That case was settled for $125,000.

In FINRA case#11-0814 a customer of Investors Capital Corp alleged damages of $100,000 in connection with a direct investment in Provident Shale Royalties 17 which the customer alleged to be unsuitable. That case was settled for $80,000.

In FINRA case #10-4809 a customer of Investors Capital Corp alleged damages of $250,000 for an investment in DBSI Chinden Road which the customer alleged to be unsuitable. That case was settled for $157,152.

Figari was employed with Investors Capital from 11/2002-10/2016. He is currently employed by Cetera Advisors. Figari discloses a business affiliation with Loyd Capital Performance Partners in Stuart, FL .

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

If you have questions about an account in an account handled by Gerard Figari or have losses in alternative investments purchased from Investors Capital Corp. contact us to discuss your legal options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Daniel Vasquez, Sr. – Former Investor’s Capital Broker – Discloses Customer Disputes & Regulatory Event – Irvine, CA

April 2017-Irvine, CA 

According to publicly available records Daniel Vasquez, Sr. , (CRD#3141463) ,  a  stockbroker who is currently not registered, but previously worked for Cetera Advisors and Investors Capital Corp discloses two final regulatory events, three pending customer disputes and three prior customer disputes .

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In September 2016 FINRA permanently barred Vasquez from the securities industry for failing to respond to FINRA request for information.

In pending FINRA   case 2012 0306704 a customer of Foothill Securities alleges damages of $150,000 for unsuitable investments.

In pending FINRA case #16-02455 a customer of Investors Capital Corp and Cetera Advisors alleges of $107,392 for unsuitable investments and unauthorized trading, including an investment in the NEON Fund.

Vasquez was employed by Cetera Advisors from 11/2013 – 5/2016  and was previously employed by Investors Capital Corp. from 9/2011 – 11/2013 and with Foothill Securities 9/2009-9/2011. .

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

If you have questions about an account in an account handled by Daniel B. Vasquez, Sr.  contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870