Tag Archives: selling away by stockbroker

Thomas H. Oliphint-Discloses Discharge from LPL Financial-San Antonio, TX

October 2017-San Antonio, TX 

We are currently investigating Thomas H. Oliphint , (CRD#1172870) ,  a  stockbroker who is not currently registered and who last was employed by LPL Financial until he was discharged for violation of firm policy regarding outside business activities in 11/2016. .

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.

Oliphint’s FINRA record discloses  2 prior customer disputes that were either denied or closed.

Oliphint’s  prior securities industry employment includes, MML Investor Services and New England Securities. He discloses business affiliation Grand Purpose Advocate.

If you have questions about  an account handled by Thomas H. Oliphint,  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 

Texas-512-329-2870

Investigation-William A. Hightower-Former UBS/Legacy Asset Broker-Houston, TX

OCTOBER 2017- Houston, TX

We are currently investigating former stockbroker William A. Hightower of Houston, TX, on behalf of a former UBS Financial Services client who alleges Hightower recommended that she invest in an unsuitable and illiquid investment, Reproductive Research Technologies.

Hightower was employed by UBS Financial Services from 2007-2013 and then by Legacy Asset Securities from 2013-2015.

In October 2015 Hightower was permanently barred from the securities industry by the Financial Industry Regulatory Authority (FINRA). Without admitting or denying the findings, Hightower agreed to the bar and to entry of findings that while employed by UBS Financial he failed to respond to requests for information  in connection with a FINRA investigation that he improperly referred customers to an unapproved private securities transaction. Specifically, Hightower failed to provide a list of any customers he referred to the private securities transaction.

FINRA records report that former UBS Financial Services stockbroker William A. Hightower is named in  currently pending FINRA arbitration case #15-03387 by a former customer who is seeking damages of $150,000 from UBS Financial Services.

The former UBS Financial Services customer alleges that in 2012 Hightower recommended the purchase of a high risk, illiquid and unsuitable private placement. Claimant further alleges omissions and misrepresentations regarding the recommended investment.

 

If you have losses in an account handled by William Hightower, call to learn how you may be able to recover damages from his former employer.

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

William W. Marshall-Ameriprise Broker-Discloses 4 Pending Customer Arbitrations-Plano, TX

October 2017-Plano, TX

The FINRA records of  William W. Marshall ,  a  stockbroker who is currently registered with Ameriprise Financial Services disclose a prior regulatory event, 4 pending customer disputes including at least one claim that alleges a fraudulent investment.

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 June 2016 Marshall was sanctioned by FINRA who found that he participated in the sale of $1.72 million of privately issued preferred stock without approval of his employing firm and that he received common stock purchase warrants as compensation for serving as a member of the advisory board of the issuer. FINRA found that the offering materials, including sales literature, contained misleading, exaggerated and/or unwarranted statements and inadequate risk disclosures. Marshall was fined $10,000 by FINRA and was suspended from 3/2016-6/2017. FINRA Case 2012033291204.

The pending customer disputes include:

  • A customer of Ameriprise Financial alleges that they were sold two fraudulent investments: $100,000 in Colorado Rare Earths and $100,000 in WestMountain Index Advisors now known as WestMountain Gold. FINRA Case 17-2240
  • A customer of Ameriprise Financial alleges that Marshall recommended they invest $150,000 in an outside investment, BioChemics, without disclosing material information and his relationship to it. FINRA Case 17-1801.
  • A customer of Ameriprise Financial alleges that there was a failure to conduct reasonable due diligence in connection with the sale of Colorado Rare Earths which was represented as a conservative, low risk investment. Damages of $100,000 are sought. FINRA Case 17-1575
  • A customer of Hilltop Securities alleges selling away, misrepresentation and unsuitable recommendations of unregistered securities and seek $350,000. FINRA Case 17-1564.

William Marshall’s employment history includes:

  • Ameriprise Financial Services                     12/2010-present
  • Southwest Securities (now Hilltop)            10/19999-12/2001

If you have losses in an account in an account handled by William W. Marshall , 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

William B. Wyman-Former Royal Alliance Assoc. Broker-Barred From Securities Industry-Palm Bay, FL

April 2017- Palm Bay, FL

The FINRA records of  William B. Wyman ,  a  former stockbroker who was  employed by  Royal Alliance Associates disclose a prior regulatory event,  a pending customer dispute, two prior customer disputes and an outstanding judgment.

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 2017 Wyman was permanently barred from the securities industry by FINRA for failing to respond to information requests from FINRA leading to suspension and then a bar after he failed to request termination of his suspension.

In the currently pending matter a customer of Royal Alliance Associates seeks damages of $97,500 and alleges negligence in connection with an investment in a pool hall/bar that was sold away from the firm.

 

William Wyman was employed by Royal Alliance Associates from 7/2000-2/2016 and then by Ameriprise Financial 2/2016-11/2016.

If you have questions about an account  handled by William Wyman 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

Patrick D. Combs-Former Morgan Stanley Broker-Discloses Customer Dispute and Suspension by FINRA-Southlake, TX

May 2017-Southlake, TX

The FINRA records of  Patrick D. Combs  ,  a  stockbroker who is currently suspended by FINRA and who was last registered with IMS Securities disclose a pending customer dispute, a final regulatory event and 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.

Combs discloses case 048-283087-16 pending in Tarrant County District Court alleging unspecified damages related to a 2012 non-broker affiliated investment.

IN 3/2017 Combs was suspended by FINRA for 7 months and fined $7,500 to resolve allegations that he participated in a private securities transaction without providing written notice to Morgan Stanley. The customer invested $500,000 in a promissory note in a privately held sports drink company. FINRA findings state that Combs submitted false answers concerning the private securities transaction in annual compliance questionnaires.

Combs  was employed by Morgan Stanley  from 6/2009-3/2016He was terminated by Morgan Stanley who made the following allegation on his FINRA record: “Allegations regarding employee’s conduct regarding the use of personal email to facilitate a private securities investment for a firm client.”

Combs was then employed briefly 3/2016-4/2016 by Houston-based IMS Securities.

If you have questions about an account  handled by Patrick D. Combs , 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

Stuart G. Dickinson-Former WFG Investments Broker-Barred by Securities Regulagtor-Highland Park, TX

November 2016-Highland Park, Texas

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 publicly available records Stuart G. Dickinson, (CRD# 1047824) ,  a  former stockbroker who is was last employed in the securities industry by WFG Investments disclose that FINRA has permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public. FINRA alleged that Dickinson failed to conduct reasonable due diligence on private placement investments involving automated teller machines ( ATM Alliance, LP ) which were fraudulent.

FINRA ordered Dickinson to pay restitution in the amount of $924,000.

In 12/2012 a customer of WFG Investments was paid $35,000 to resolve allegations that certain investments sold to him by Dickinson were not suitable.

In FINRA arbitration 12-1202 filed by a customer of WFG Investments, a customer was paid a settlement of $130,000 to resolve allegations of fraud, suitability, misrepresentation and lack of supervision with respect to the purchase of a private placement and unsuitable exchange traded funds (ETFs).

Dickinson  was employed by WFG Investments from 10/2005-9/2013.  He was discharged by WFG Investments 9/2013 after the company received an inquiry relating to a private securities transaction. He is not currently registered as a broker.

If you have questions about an account in an account handled by Stuart Graham Dickinson , 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

Jamie D. Pope-Former Wilbanks Securities Broker-Discloses Permanent Bar from Industry & Discharge

August  2016-Winter Park, Florida

The FINRA records of Jamie D. Pope ,  a  stock broker who has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public  discloses  a regulatory event and 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.

Pope was permanently barred from the industry by FINRA in 11/2014 to resolve allegations that he converted customer funds provided to him for the express purposes of investing in one of Pope’s outside business activities.

Pope was discharged by Wilbanks Securities in 11/2013 for failure to disclose the investment by a client in his outside insurance business and failure to disclose a private real estate transaction with the client.

 

Pope was employed by Wilbanks Securities from 1/2011-11/2013.    Prior to that he was employed by Allegiant Securities from 5/2009-12/2010.

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