Category Archives: H.D. Vest

Paul R. Nitz-H D Vest Broker-Discloses Pending Customer Arbitration-Woodlands, TX

January 2017-The Woodlands, Texas

According to publicly available records Paul R. Nitz, (CRD# 2260178) ,  a  stockbroker currently employed by HD Vest Investment Services  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.

A customer of HD Vest Investment Services, filed FINRA Case 16-2001 , alleging damages of $528,000 for recommending and implementing an unsuitable investment strategy and for not informing the client that they could lose principal.

Nitz has been registered with HD Vest Investment Services since 9/ 1994.

If you have questions about an account in an account handled by Paul R. Nitz, 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: 877-224-3199Florida-561 391 1900 

Texas-512-329-2870

William M. Ditty-HD Vest Broker-Discloses Regulatory Complaint-Dublin, OH

MAY 2017 UPDATE-FINRA records indicate that William M. Ditty, Jr. is not currently registered with any broker dealer.

ORIGINAL POST-July 2016– Dublin, Ohio

The FINRA records of William M. Ditty, Jr.  , a stock broker who works for HD Vest Investment Services  , disclose  a currently pending regulatory matter, a prior final customer dispute, a prior final financial event and 9 outstanding judgement/liens

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 a currently pending FINRA Case # 2014042156101, FINRA alleges that Ditty willfully failed to timely amend FINRA records to disclose an unsatisfied IRS tax lien of $107,519 that was filed against him. Ditty waited until approximately two years and seven months to disclose the lien, according to FINRA. In addition Ditty made false affirmations to his member firm in annual compliance attestations.

Ditty discloses 9 unsatisfied tax liens in favor of the State of Ohio. In September 2015, Ditty entered into a compromise with the IRS and satisfied over $265,000 in taxes owed for years 1999-2010 by paying $131,204.

DItty has worked for HD Vest Investment Services since 8/1991.

If you have losses in an account handled by William M. Ditty , 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

Ronald Harrison-Former GWN Securities Broker-Sanctioned by Regulator-Carrollton, TX

February 16, 2016- Carrollton, Texas

The Texas State Securities Board (TSSB) has suspended Ronald Eugene Harrison of Carrollton, Texas, for 90 days and assessed a fine of $5,000 to resolve allegations that Harrison, who was employed by GWN Securities and  Fox Financial Management Corporation, violated registration requirements of state law by selling investments that he did not have reasonable basis to believe were suitable for his clients.

One of Harrison’s clients filed a complaint with the TSSB regarding a $400,000 investment sold to him by Harrison in Resale Life Insurance Program, sponsored by a company named Retirement Value, LLC.  Retirement Value was placed into receivership in 2010 by the SEC. According to the TSSB Consent Order, Harrison earned a $40,000 commission on the sale.

The client was retired and depended on her retirement income portfolio as a primary source of income. The Resale Life Insurance Program was illiquid with no set payments to the investor, making it entirely inappropriate and unsuitable for her.

According to FINR A records, Harrison is not currently registered with any brokerage firm. He was previously registered as follows:

  • 1/2014-9/2014                     GWN Securities
  • 8/2013-12/2013                   High Street Securities
  • 4/2012- 8/2013                      H.D. Vest Investment Securities 
  • 11/2007-3/2012                    Fox Financial Management

If have losses in an account handled by Harrison, you may be able to recover damages from his former employer. 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

 

Former LPL Financial/H.D. Vest Broker Sanctioned by Securities Regulator-Hollywood, FLA

November 3 , 2015

Daniel Kasbar  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide documents and information as requested by FINRA in connection with an investigation into allegations that Kasbar, between 2010 and 2015, engaged in an outside business activity beyond the scope of the approvals provided by his employers, HD Vest and LPL Financial.

AWC No.  2015045744901

 

Kasbar was barred from associating with any FINRA member firm in any capacity.

FINRA records indicate that Kasbar was registered with H.D. Vest Investment Services in Hollywood, FL, from 2/2011-3/2014. He was registered with LPL Financial from 3/2014-6/2015.

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

Jose Palacio-Former H.D. Vest Broker-Sanctioned by Regulator-Bradenton,FL

July 10,  2015- Bradenton, Florida

Jose Luis Palacio  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he willfully failed to timely disclose to FINRA that he filed a Chapter 7 bankruptcy petition.

AWC No. 2014042059901

Palacio  was  fined $5,000 and suspended for four months.

According to FINRA records, Palacio was registered with H.D. Vest Investment Services from 4/2010-3/2015.

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

Former H.D. Vest Broker Sanctioned for Failing to Report Personal Bankruptcy to FINRA

July 10, 2015-

Jose Palacio  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he violated FINRA Rules 1122 and 2010 by failing to report to FINRA the fact that, while associated with H.D. Vest , he filed a Chapter 7 bankruptcy proceeding and willfully failed to disclose it on FINRA forms.

Palacio was suspended for four months from association with any FINRA member in any capacity and assessed a $5,000 fine.

FINRA AWC 2014042059901

According to FINRA records, Palacio was registered with H.D. Vest Investment Services from 4/2010-3/2015 in Ellicott City, MD. Prior to that he was registered with PSA Equities in Columbia, MD.

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

H.D. Vest Broker Fined/Suspended by Securities Regulators

June 8, 2015

Susan Cornwall  entered into a Letter of Acceptance Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that she accepted $38,000 from a customer intended to fund the opening of an IRA account. Cornwall lost the check and did not open the IRA account and did not tell the customer.

The customer later  requested a distribution from the IRA she believed had been set up and Cornwall funded the distribution from her business bank account. About six months following the time the customer believed her IRA account had been set up, Cornwall, without the customer’s knowledge or permission, completed a new account form, forged the customer signature on it and submitted it to her member firm together with $32,084 from Cornwall’s business bank account.

Cornwall   was fined $5,000 and suspended from association with any FINRA member in any capacity for 18 months.

Disciplinary Proceeding NO. 2014043726801

According to FINRA records, Cornwall was registered with H.D. Vest in Irving, Texas from 6/1996-10/2004 and then in Westward, MA, from 11/2004-4/2015.

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