Category Archives: LaSalle St Securities

Ronald D. Henson-Former Voya Financial Broker-Discloses Discharge From Employment

January 2017- Longview, Texas

According to publicly available records Ronald D. Henson , (CRD# 1748328) ,  a  stockbroker who is currently employed by LaSalle St. Securities disclose a separation from employment after allegations.

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 May 2016 Henson was discharged from Voya Financial Advisors who made the following statement in connection with the discharge: “Representative was found to have corresponded using a non-approved email address. The Firm has issued discipline to the representative on two previous occasions for the use of a non-approved e-mail address.” 

Henson has been employed by LaSalle St. Securities  since 6/2016.  He was  employed by Voya Financial Advisors from 2/2010-5/2016. 

If you have questions about an account in an account handled by Ronald D. Henson , 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

LaSalle St. Securities Sanctioned Over Sale of Private Placement Offerings

November 10, 2014- LaSalle St. Securities, headquartered in Chicago with 232 brokers in 107 branch offices was censured and fined $175,000 by FINRA to resolve allegations that LaSalle:

  • Failed to exercise adequate due diligence in connection with the sale of Seat Exchange Corporation, a private placement offering
  • Distributed a private placement memorandum for the sale of Revitalight Operators, LLC, that did not include certain material facts and failed to adequately supervise the selling broker

If you suffered losses as a result of investing in Seat Exchange Corp. or Revitalight Operators, you may be able to recover damages through FINRA arbitration.

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900

Investment News Announces Most Profitable Independent Broker Dealers

By Robert H. Rex 

The Investment News recently (March 2014) announced the most profitable independent broker-dealers, ranked by Pre-Tax Earnings. See this for complete list. 


Independent
Broker Dealer
PreTax Earnings
1 LPL Financial LLC $385,900,000
2 Cambridge Investment Research Inc. $25,287,365
3 AXA Advisors LLC $22,600,000
4 CUNA Brokerage Services Inc. $9,244,000
5 Princor Financial Services Corp. $6,461,785
6 Investacorp Inc. $4,415,574
7 Summit Brokerage Services, Inc. $3,500,000
8 Allstate Financial Services LLC $2,674,035
9 The O.N. Equity Sales Co. $2,349,581
10 VSR Financial Services Inc. $2,338,051
11 Signator Investors Inc. $2,310,447
12 Kovack Securities Inc. $2,280,475
13 Prospera Financial Services Inc. $1,963,764
14 M Holdings Securities Inc. (M Securities) $1,900,000
15 Cadaret Grant & Co. Inc. $1,800,000
16 SWS Financial Services $1,738,576
17 American Portfolios Financial Services Inc. $1,578,496
18 Financial Telesis Inc. $1,500,000
19 Ameritas Investment Corp. $1,418,490
20 United Planners Financial Services $1,257,723
21 Berthel Fisher & Co. Financial Services Inc. $1,184,429
22 National Securities Corp. $1,184,000
23 LaSalle St. Securities LLC $1,133,986
24 The Strategic Financial Alliance Inc. $1,067,097
25 Ausdal Financial Partners $891,000

If you have questions about the way your brokerage account is being handled, call to speak with an experienced securities attorney to discuss your legal rights. 
Nationwide consultation.
561 391 1900

Investment News Announces Most Profitable Independent Broker Dealers

By Robert H. Rex 

The Investment News recently (March 2014) announced the most profitable independent broker-dealers, ranked by Pre-Tax Earnings. See this for complete list. 


Independent
Broker Dealer
PreTax Earnings
1 LPL Financial LLC $385,900,000
2 Cambridge Investment Research Inc. $25,287,365
3 AXA Advisors LLC $22,600,000
4 CUNA Brokerage Services Inc. $9,244,000
5 Princor Financial Services Corp. $6,461,785
6 Investacorp Inc. $4,415,574
7 Summit Brokerage Services, Inc. $3,500,000
8 Allstate Financial Services LLC $2,674,035
9 The O.N. Equity Sales Co. $2,349,581
10 VSR Financial Services Inc. $2,338,051
11 Signator Investors Inc. $2,310,447
12 Kovack Securities Inc. $2,280,475
13 Prospera Financial Services Inc. $1,963,764
14 M Holdings Securities Inc. (M Securities) $1,900,000
15 Cadaret Grant & Co. Inc. $1,800,000
16 SWS Financial Services $1,738,576
17 American Portfolios Financial Services Inc. $1,578,496
18 Financial Telesis Inc. $1,500,000
19 Ameritas Investment Corp. $1,418,490
20 United Planners Financial Services $1,257,723
21 Berthel Fisher & Co. Financial Services Inc. $1,184,429
22 National Securities Corp. $1,184,000
23 LaSalle St. Securities LLC $1,133,986
24 The Strategic Financial Alliance Inc. $1,067,097
25 Ausdal Financial Partners $891,000

If you have questions about the way your brokerage account is being handled, call to speak with an experienced securities attorney to discuss your legal rights. 
Nationwide consultation.
561 391 1900

FINRA Sues LaSalle St Broker Steven Kahn For Unauthorized Trading in Deceased’s Account

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.

See the FINRA website for current and historical disciplinary actions.

July 2013

Steven Foreman Kahn (CRD #1001362, Registered Principal, Buffalo Grove, Illinois) was named a respondent in a FINRA complaint alleging that he effected trades in the securities account of a deceased customer without the customer’s authorization or consent and in the absence of written or oral authorization from the customer, her estate representative, or any person with authority over the account. The complaint alleges that in fact, the customer had died approximately two years prior to Kahn becoming the registered representative of record for the account.

 

The complaint also alleges that Kahn’s member firm had informed him that his production was low, and he needed to take steps to develop his business and profitability. Shortly after being warned about his low production, Kahn effected the transactions in the customer’s account. The complaint further alleges that in response to a customer’s complaint concerning being charged excessive commissions while Kahn was the registered representative of record, Kahn agreed to refund a percentage of the commissions that the customer had paid over the prior five years. Kahn withdrew $7,005.68 from his personal checking account and tendered the funds to the customer in settlement of the complaint.

 

Kahn did not inform his firm of the customer’s complaint, nor did he obtain his firm’s approval prior to payment to the customer of the settlement amount. (FINRA Case #2010024957001)

According to FINRA records, Kahn is   registered with LaSalle St. Securities since 10/28/2010. He was previously registered with the following firms:

Rothschild Investment Corporation
5/1983-10/2010

Rex Securities Law , located in Boca Raton, FL, 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.

Rex Securities Law

561 391 1900