Category Archives: Prospera Financial Services

Michelle D. Drake-Former Rhodes Securities Broker-Discloses Discharge From Employment-Colleyville, TX

April 2017-Colleyville, Texas

The FINRA records of  Michelle Diane Drake ,  a  stockbroker who is currently  registered with   Prospera Financial Services  disclose a termination from employment.

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.

 

Drake was discharged by Rhodes Securities 4/28/2015. Rhodes Securities made the following allegations on Drake’s FINRA record in connection with the discharge: “Failed to report a trade to home office when allocation was not received from Chris Anthony at 2:30pm. Failure to adhere to the supervision of (third party’s) heightened supervision, allowing trades to be placed in accounts outside of what the investment objectives stated for the clients account.”

Chris Anthony was discharged by Rhodes Securities on 4/28/2015 also. Anthony is currently named in a $2 million FINRA arbitration. See this for details. 

Drake was employed by Rhodes Securities from 8/2009-4/2015. She is currently registered with Prospera Financial Services in Colleyville, TX.

If you have losses in an account in an account handled by Michelle D. Drake  contact us to discuss how you may be able to recover damages for those losses.

Rhodes Securities is headquartered in Ft. Worth, Texas, and has been a FINRA member since 1987. The company is registered to transact securities business in all fifty states and the District of Columbia.

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

Ari M. Baum-Former Morgan Stanley Broker-Discloses Discharge & Pending Customer Dispute

New York

According to FINRA records,  Ari M. Baum  a stockbroker  who currently works  for Prospera Financial Services , discloses  a termination from employment and a currently 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.

Baum discloses  that in 9/2014 he was discharged from Morgan Stanley Wealth Management. The company made the following allegation on Baum’s FINRA record: “Financial advisor altered the contents of an email sent internally related to a delayed banking transaction”.

In currently pending FINRA Case #16-0938, a customer of Morgan Stanley Smith Barney alleges damages of $1,285,000 for unsuitable transactions made in the account from 2013-2014.

Baum has been employed by  Prospera Financial Services since 10/2014. He was employed by Morgan Stanley from 11/2009-10/2014.

If you have questions about an account handled  by Ari M. Baum, 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

Rhonda J. Matthews-Former Prospera Financial Broker-Discloses Suspension

Austin, Texas

According to FINRA records,  Rhonda Janeen Matthews (aka Rhonda Allen)   a former stockbroker  who most recently worked  for Prospera Financial Services , discloses  a  regulatory event, a termination and 2 outstanding judgments/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.

Matthews discloses  that in 3/2016  she was suspended by FINRA for “failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance”. 

Matthews discloses that in 5/2013 she was discharged from Wells Fargo Advisors, who alleged that Matthews “failed to follow firm policy regarding the contacting of customers prior to each trade”.

Matthews was employed by  Prospera Financial Services from 6/2013-12/2015. Her prior employment includes Wells Fargo Advisors and Raymond James Financial.

If you have questions about an account handled  by Rhonda J. Matthews, 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

John M. Gregory-Former Citigroup Broker-Discloses Termination from Employment

White Plains, New York

According to FINRA records,  John M. Gregory   a stockbroker  who currently works  for Prospera Financial Services , discloses  a  termination from employment .

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.

Gregory discloses  that in 3/2015 he was discharged from CItigroup Global Markets. The discharge came following a review of documents in which the client signed documents in blan, some of which were later attached to prepopulated forms, and it appears that there is altered information on other forms, according to the company.

Gregory was employed by Citigroup Global Markets from 12/2010-4/2015. He has been employed by Prospera Financial Services since 4/2015.

 

If you have questions about an account handled  by John M. Gregory, 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

Charles L. Evans-Former RBC Capital Broker-Discloses Termination and Regulatory Event

Plano, Texas

According to FINRA records,  Charles L. Evans  a stockbroker  who currently works  for Prospera Financial Services , discloses  a  termination from employment and one final regulatory event.

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.

Evans discloses  that in 7/2014 he was discharged from Wells Fargo Advisors for failure to follow broker protocol and submission of inaccurate ACATs. He was employed by Wells Fargo 5/2014-8/2014. Prior to that he was employed by RBC Capital Markets.

In April 2016, Evans received a 10 day suspension and was assessed a $5,000 fine from FINRA to resolve allegations that he improperly took confidential, nonpublic customer information, prior to his resignation from his member firm, after agreeing he would not remove any other client-related information, records or documents, including account numbers from his firm.

The findings stated that Evans created a New Account Checklist form to record financial and suitability information about his clients, including account numbers, social security numbers, date of birth and other information commonly included on new account documents.

If you have questions about an account handled  by Charles L. Evans, 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

Former Lowell and Company Broker From Lubbock Sanctioned by Regulators

July 10, 2015-Lubbock, TX

Jeffery Karl Hobgood  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 amend FINRA disclosure forms to disclose an IRS tax lien of $212,000 .

Failure to disclose the lien with thirty days of receipt is a violation of FINRA Rules 1122 and 2010.

 

Hobgood was fined $5,000 and suspended for six months.

FINRA AWC 2014039092901

According to FINRA records, Hobgood was registered with Lowell and Company from 9/2010-5/2015. Prior to that he was registered with Prospera Financial Services.

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