Category Archives: Lincoln Financial

Christian J. Stoltz-Centaurus FInancial Broker-Discloses Customer Disputes

August 2016- Forty Fort, PA

The FINRA records of  Christian J. Stoltz,  a  stock broker who is currently employed by Centaurus Financial  disclose  a currently pending customer dispute and a prior 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  the currently pending dispute , a customer of Centaurus Financial  alleges damages of $200,000 and alleges that they were sold an annuity with a longer term than what they desired.

In the prior dispute, FINRA Case#13-03122, a customer of Stoltz’s prior employer, Lincoln Financial Securities, alleged damages of $400,000, alleging that Stoltz never adequately explained the risks and costs associated with a variable life insurance policy and that the policy was unsuitable and that material misrepresentations were made to induce its purchase. That case was settled in 2014 for $196,000, with Stoltz contributing $100,000 to the settlement.

Stoltz has been registered with Centaurus Financial since 1/2007. 

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

Douglas C. Robb-Former Cuso Financial Services Broker-Discloses Termination From Employment

Port Chester, New York

According to FINRA records,  Douglas C. Robb, Jr.   a stockbroker who was recently employed by Cuso Financial Services , discloses  a termination.

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.

Robb was employed by Cuso Financial Services from 5/2012-4/2016. He was permitted to resign from Cuso Financial in 4/2016 for violation of firm special supervision program for failing to secure pre-approval of a variable annuity transaction.

Robb’s prior employment includes Lincoln Financial Distributors from 5/2006-5/2012.

If you have questions about an account handled  by Douglas C. Robb, Jr. , call for a no charge consultation.

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 Canales-El Paso Insurance Agent/Stockbroker-Barred from Securities Industry

August 20, 2014- El Paso, Texas

Jose M. Canales , a broker with Lincoln Financial Securities Corporation, 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 to appear for testimony in connection with a FINRA investigation into the events leading up to Canales termination from Lincoln Financial Securities Corporation, including his handling of customer funds.

According to FINRA records, Canales was discharged from Lincoln Financial Securities on 5/2/2014 “for accepting cash from customers for deposit into his account, contrary to firm policy, in order to pay life insurance premiums on behalf of his customers.”

Canales, through his attorney, advised FINRA that he would not appear for testimony or provide documents and information in connection with the FINRA investigation

AWC No.  2014041231501

Canales was permanently barred from association with any FINRA member in all capacities.

FINRA records disclose that Canales was registered with Lincoln Financial Securities Corporation from 9/2002-5/2014.

If you suffered losses in an account handled by Jose Canales, you may be able to recover damages from his employer. Call 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 

Former Lincoln Financial Broker Jose M. Canales Sanctioned By FINRA-El Paso

To resolve allegations that he failed to respond to a FINRA regulatory investigation related to the handling of customer funds, Jose Martin Canales of El Paso, TX, was barred from the securities industry. According to the Letter of Acceptance Waiver and Consent filed in the matter Canales was discharged from Lincoln Financial Securities in May 2014 and the following explanation was provided to regulators:

“The RR was terminated for accepting cash from customers for deposit into his account, contrary to firm policy, in order to pay life insurance premiums on behalf of his customers.”

If Mr. Canales handled your account and you suffered losses 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

Independent Broker Dealer Rankings Announced by Investment News

The Investment News recently announced the rankings of independent broker-dealers for 2013

BrokerDealer                   Gross Revenue

 1            LPL Financial LLC           $4B (billion)

2            Ameriprise Financial
Services Inc.                                     $3.2 B

3            Raymond James Financial
Services Inc.                                   $1.4 B

4            Commonwealth Financial
Network                                         $822 M (million)

5            Lincoln Financial Network       $794M

6            Wells Fargo Advisors
Financial Network                $707 M

7            Axa Advisors            $677M

8            Northwestern Mutual        $654M

9            Cambridge Investment
Research Inc.                      $574 M

10          Securities America Inc.      $475M

11          Royal Alliance Associates
Inc.                              $444 M

12          Cetera Advisor Networks    $435M

13          Waddell & Reed
Financial Advisors                       $426 M

14          ING Financial Partners
Inc.                                  $396 M

15          National Planning Corp.      $383M

16          NFP Advisor Services
Group                                $381 M

17          MML Investors Services
LLC                              $361 M

18          Securian Financial
Services Inc.                            $355 M

19          FSC Securities Corp.        $280M

20          Princor Financial
Services Corp.                           $279 M

21          SagePoint Financial Inc.  $279M

22          INVEST Financial Corp.      $278M

23          HD Vest Investment
Services                               $273 M

24          First Allied Securities
Inc.                                   $272 M

25          Signator Investors Inc.   $269M

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

Hugh Hunsinger -Former Lincoln Financial Advisors Broker Sued by FINRA-$1 Million Theft

 Pinebrook, New Jersey

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.

AUGUST 2013
Hugh Robert Hunsinger Jr. (CRD #2179745, Registered Representative, Pinebrook, New Jersey) was named a respondent in a FINRA complaint alleging that he misappropriated and converted a total of $1,452,503.57 from the accounts of his elderly and unsophisticated parents.

The complaint alleges that his parents never authorized the transfer of funds. To hide his misappropriation, Hunsinger told his parents that he was selling securities they owned to invest in new insurance or securities products. Instead, Hunsinger deposited the funds into bank accounts he controlled. The complaint also alleges that Hunsinger recommended that his parents invest in a deferred combination variable and fixed annuity to be issued by a company. Hunsinger provided his parents with documents that purported to be designed for one of them and that contained information, based on a historical illustration, concerning withdrawals, contract values, cash surrender, average annual returns and standard death benefit.

The complaint further alleges that Hunsinger’s parents agreed to his recommendation and believed that he was selling securities from their accounts to purchase the annuity. In addition, the complaint alleges that in subsequent meetings, Hunsinger reiterated to his parents, orally and in writing, that he had purchased the annuity, and later provided them with additional documents reflecting the purported initial premium for the annuity. Hunsinger caused securities to be sold in their accounts but never purchased the annuity.

Moreover, the complaint alleges that Hunsinger willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, FINRA Rules 2010 and 2020, and NASD Rules 2110 and 2120. Hunsinger acted with scienter in falsely representing that he had purchased the annuity on behalf of his parents.

Furthermore, the complaint alleges that Hunsinger failed to respond to FINRA requests for information and documents related to its investigation. (FINRA Case #2011030045101)

According to FINRA BrokerCheck Records Hunsinger is not currently registered. He was most recently  registered at the following brokerage firm:

Lincoln Financial Advisors Corporation
Paramus, NJ
2/2002-11/2011

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