Tag Archives: Four Points Capital Partners complaint

Daniel T. Fischer-Former Four Points Capital Partners Broker-Named In SEC Complaint-Melville, NY

January 2018-Melville, New York / Texas

Daniel T. Fischer , a currently unregistered stockbroker who last worked for Four Points Capital Partners, a Texas LLC, (Four Points) was named in a complaint filed by the Securities and Exchange Commission in December 2017, which alleges that Fischer and another Four Points broker, Zachary S. Berkey, recommended a high cost, in and out trading strategy without reasonable basis to believe it was suitable for the customers.

The SEC alleges that Berkey and Fischer:

  •  were reckless in making such a recommendation which was not suitable given the customers’ financial needs, investment objectives and circumstances.
  • made material misrepresentations and omissions to customers

and that Fischer engaged in unauthorized trading.

Link to SEC complaint.

According to the SEC complaint, the ten customers accounts involved suffered losses of $573,867 while Berkey earned $106,000 and Fischer earned $175,000 in commissions.

According to FINRA records Fischer was employed by Four Points Capital Partners from 11.2012-7/2017. Prior to that he was employed by WTS Proprietary Trading Group and before that Dimension Securities.

Fischer discloses a prior regulatory event. In 7/2016 he consented to FINRA sanctions and was fined $5,000 and suspended for 20 business days to resolve allegations that he exercised discretion in customers’ accounts notwithstanding the fact that he did not have written authorization from the customers to place discretionary trades.

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.

If you have questions about  an account handled by Daniel T. Fischer if you have an account with Four Points Capital Partners that you believe has been mishandled , 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

Zachary Berkey-Former Four Points Capital Broker-Named in SEC Complaint-Melville, NY

January 2018-Melville, New York / Texas

Zachary S. Berkey , a currently unregistered stockbroker who last worked for Four Points Capital Partners, a Texas LLC, (Four Points) was named in a complaint filed by the Securities and Exchange Commission in December 2017, which alleges that Berkey and another Four Points broker, Daniel T. Fischer, recommended a high cost, in and out trading strategy without reasonable basis to believe it was suitable for the customers.

The SEC alleges that Berkey and Fischer:

  •  were reckless in making such a recommendation which was not suitable given the customers’ financial needs, investment objectives and circumstances.
  • made material misrepresentations and omissions to customers

and that Fischer engaged in unauthorized trading.

Link to SEC complaint.

According to the SEC complaint, the ten customers accounts involved suffered losses of $573,867 while Berkey earned $106,000 and Fischer earned $175,000 in commissions.

According to FINRA records Berkey was employed by Four Points Capital Partners from 4/2013-1/2015. Prior to that he was employed by National Securities Corp. and before that Woodstock Financial Group.

Berkey discloses 4 prior customer disputes including a case settled in 2005 for $231,000 in which a customer alleged misrepresentation and churning.

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.

If you have questions about  an account handled by Zachary S. Berkey or if you have an account with Four Points Capital Partners that you think has been mishandled, 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

Blake Kiernan-Former Woodstock Financial Broker Discloses Customer Disputes-Chicago, IL

May 2017 – Garden City, NY

According to publicly available records Blake H. Kiernan  (CRD#4477243) ,  a  stockbroker currently not registered, but was previously registered with  Woodstock Financial Group, Inc.,  and Four Points Capital Partners,  discloses three 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 #15-00736 a customer of Woodstock Financial Group, Inc. alleged churning, unsuitability, unauthorized trading, negligence, breach of contract and misrepresentation  seeking damages $197,656.98.   The case was settled for $71,500 in 8/2016.

In pending FINRA case #17-00630  a customer of Woodstock Financial Group, Inc. alleges fraud, excessive trading, churning, unauthorized trading, Iowa consumer fraud, breach of fiduciary duty, unsuitability, breach of contract, and negligent unjust enrichment and seeks damages of $200,000.

FINRA case #15-03356, filed by a customer of Woodstock Financial Group, alleges unsuitability, failure to supervise, and breach of fiduciary duty and seeks damages of $108,825.   This case is pending.

Kiernan was employed  by Woodstock Financial Group from September /2008 to May /2013.  He was then employed with Four Points Capital Partners until June of 2014. 

If you have questions about an account in an account handled by Blake H. Kiernan  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

Douglas E. Duncan-Former National Securities Corp. Broker- Discloses Customer Dispute-Westbury, NY

May 2017-Westbury, New York

The FINRA records of  Douglas E. Duncan ,  a  stockbroker who is currently  registered with PHX Financial  and Scottrade, Inc.  disclose 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 pending FINRA arbitration 16-0735, a customer of Duncan’s prior employer, National Securities Corp. alleges damages of $500,000 for breach of fiduciary duty, negligent misrepresentation and negligence.

Douglas E. Duncan has been employed by PHX Financial since 5/2017 and Scottrade since 3/2016. His previous employments include Worden Capital Management 6/2015-3/2016, Four Points Capital Partners 4/2015-6/2015 and National Securities Corp. 9/2014-3/2015.

If you have questions about an account  handled by Douglas E. Duncan  , 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

Michael Guilfoyle-Former Legend Securities Broker-Discloses Settlement of Churning Complaint

New York

UPDATE JUNE 2017Michael Guilfoyle is not currently registered He left employment at Four Points Capital Partners in 3/2017.

ORIGINAL POST 2/2017

Publicly available records of Michael N. Guilfoyle, (CRD# 5119593) ,  a  stockbroker who is currently employed by Four Points Capital Partners disclose that in 2014 a customer of his prior employer Legend Securities filed FINRA arbitration #14-3134 alleging damages of $298,687 for churning, excessive trading, recommending unsuitable investments and engaging in unauthorized trading. That case was settled for $99,999.

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.

Guilfoyle  has been employed by Four Points Capital Partners since 9/2016. His prior employment includes IFS Securities, Legend Securities, Joseph Gunnar, America’s Choice Equities, J.P. Turner and Newbridge Securities. 

If you have questions about an account in an account handled by Michael Guilfoyle, 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

Sean P. McCabe Investigation-Former National Securities Corp Broker Discloses 2 Pending Customer Disputes

May 2016- Garden City, New York

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.

According to FINRA records,  Sean P. McCabe , currently a broker with Worden Capital Management discloses 2  pending customer disputes and 2 finalized customer disputes.

Currently pending cases:

  • FINRA Case 16-595- A customer of National Securities Corp alleges damages of $550,000 for negligent misrepresentation and breach of fiduciary.
  • FINRA Case 16-594- A customer of National Securities Corp alleges damages of $150,000 for breach of fiduciary duty and negligent misrepresentation.

In FINRA Case 15-1338 a customer of National Securities Corp alleged damages of $250,144 for excessive trading, unauthorized trading, misrepresentation, negligence and breach of fiduciary duty. That case was settled for $65,000 8/2016.

McCabe has been registered with Worden Capital Management since 6/2015. Prior to that he was registered with Four Points Capital Partners, National Securities Corporation and Woodstock Financial Group.

If you have questions about an account handled by Sean P. McCabe  contact us to discuss your options and to learn how 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

Michael P. McMahon -Former National Securities Corp Stockbroker-Discloses Pending Customer Disputes-NY

Garden City, New York

MAY 2017 UPDATEMCMahon’s FINRA record discloses 5 pending and 11 final customer disputes.

In 11/2016 FINRA case 15-1558 was settled for $400,000 to resolve allegations by a customer of National Securities that McMahon breached his fiduciary duty, made misrepresentations and was negligent.

In 4/2017 a customer of National Securities Corp filed FINRA case 17-0703 alleging damages of between $500,000-$700,000 for negligence, misrepresentations, and breach of fiduciary duty. That case is currently pending.

ORIGINAL POST-May 2016

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.

According to FINRA records,  Michael P. McMahon, currently a broker with Worden Capital Management discloses 9 pending customer disputes and 6 finalized customer disputes.

Prior resolved cases include:

  • FINRA Case 14-2905, a customer while McMahon was registered with National Securities Corp alleged damages of $480,000 for unsuitability, churning and other claims. Case settled for $262,500.
  • FINRA Case 9-5072, a customer while McMahon was registered with Woodstock Financial Group alleged damages of $242,682 for negligence, misrepresentation and other claims. Case settled for $140,000.

Currently pending cases include:

  • FINRA Case 16-595- A customer of National Securities Corp alleges damages of $550,000 for negligent misrepresentation and breach of fiduciary.
  • FINRA Case 16-661-A customer of National Securities Corp alleges damages of $250,000 for breach of fiduciary duty and negligence.
  • FINRA Case 16-735- A customer of National Securities Corp. alleges damages of $500,000 for breach of fiduciary duty and negligent misrepresentation.

McMahon  has been registered with Worden Capital Management since 6/2015. Prior to that he was registered with Four Points Capital Partners, National Securities Corporation and Woodstock Financial Group.

If you have questions about an account handled by Michael P. McMahon  contact us to discuss your options and to learn how 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