Tag Archives: WFG Investments complaint

James Pheney-Former WFG Investments Broker-Discloses Pending Customer Dispute-Castle Rock,CO/Brenham, TX

July 2017 -Castle Rock, CO-Brenham, Texas

According to publicly available records James K. Pheney  (CRD#1272932) ,  a  stockbroker who currently is employed by Mid Atlantic Capital Corp.  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 December of 2016, a  customer of Pheney’s prior employer,WFG Investments, Inc. ,  filed a complaint seeking damages of $240,000 alleging misrepresentation in connection with the purchase of a municipal bond. That matter is currently pending.

Pheney was employed by  WFG Investments from 1/2005-8/2017. He joined Mid Atlantic Capital Corp. in 8/2017. Pheney discloses a business affiliation with Plum Creek Investment Services with offices in Castle Rock, CO and Brenham, Texas.

If you have questions about an account handled by James Kevin Pheney, 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

James Neal Turner-Former WFG Investments Broker-Discloses Customer Dispute-Plano, TX

June 2017- Plano, Texas

According to publicly available records James N. Turner (CRD#2068968) ,  a  stockbroker who currently is employed by First Command Financial Planning  discloses a pending customer dispute, 2 prior customer disputes and a currently outstanding judgment/lien.

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 arbitration 16-03688, a customer of WFG Investments and Jefferies LLC seeks damages of $75,000 and alleges misrepresentation within offering documents, failure to conduct due diligence and failure to execute due care in the sale of unsuitable investments.

Turner discloses a tax lien in favor of the Internal Revenue Service in the amount of $58,525, filed at Collin County, TX  Federal Court.

Turner’s prior employment includes Merrill Lynch, IMS Securities and WFG Investments.

If you have questions about an account handled by James Neal Turner , 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

Gary C. Haack-Former FSC Securities Broker-Discloses Settlement of Customer Dispute-San Antonio, TX

June 2017- San Antonio, Texas

According to publicly available records Gary C. Haack  (CRD#2796834) ,  a  stockbroker who currently is employed by Corecap Investments  discloses  2 prior 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 arbitration 15-0836, a customer of WFG Investments sought damages of $115,000 and alleged unsuitable investments in speculative products in connection with an investment in a private placement offering of medical and research firms. The case was settled for $70,000 in 6/2016.

Gary C. Haack  has been employed by Corecap Investments since 6/2016. His prior employment includes FSC Securities, WFG Investments and NEXT Financial Group.

If you have questions about an account handled by Gary C. Haack  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

Kyle J. Gardner-Former MML Investor Services Broker-Discloses Customer Dispute Over REITs-Plano, TX

May 2017- Plano, Texas

The FINRA records  of Kyle J. Gardner,  a  stockbroker who is currently employed by  SCF Securities   disclose a pending  customer dispute for losses on investments in real estate investment trusts (REITs).

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 customer dispute (internal case #201626218) a customer Gardner’s prior employer , MML Investor Services LLC, alleges damages in an unstated amount related to the purchase of two REITs in 2010. The customer alleges that he was not advised that the investment is illiquid and is not redeemable and that in 2015 Gardner advised him to close an individual account holding mutual funds to offset current losses and reinvested the funds in the same position.

Gardner has been employed by SCF Securities since 7/2014. His prior employment includes WFG Investments in Plano and MML Investors Services in Dallas.

If you have questions about an account  handled by Kyle J. Gardner 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

Leslie R. Rosenblatt of Texas Financial Resources Discloses Customer Dispute/Termination of Employment-Plano, TX

April 2017-Plano, TX

The FINRA records of  Leslie R. Rosenblatt ,  a  stockbroker who is currently registered with SCF Securities disclose a pending customer dispute 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.

In currently pending FINRA arbitration 16-03688 a customer of WFG Investments is seeking damages of $75,000 and alleges misrepresentation contained in the offering documents, failure to conduct reasonable due diligence and failure to execute care against WFG Investments and Jefferies LLC.

Rosenblatt made the following statement on his FINRA record in connection with this pending claim: “As an advisor of WFG Investments, Inc. the information that was furnished to me was thought to be accurate and clearly stated. I am very disappointed that WFG may have had incorrect information in their offering documents.”

Rosenblatt has been employed by SCF Securities since 6/2015. Prior to that he was employed by WFG Investments and before that MML Investor Services.   Rosenblatt discloses a business affiliation with Texas Financial Resources and  Wealth Concepts. 

In 4/2014 Rosenblatt was discharged by WFG Investments who made the following allegation on his FINRA record: “The firm has reasonably determined that Mr. Rosenblatt facilitated private securities transactions without prior approval. The firm identified instances where Mr. Rosenblatt signed wire transfer request forms and failed to identify or report what was later determined to be replicated, pre-signed forms. “

If you have losses in an account in an account handled by Leslie R. Rosenblatt , you may be able to recover damages through FINRA arbitration.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

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

Jay D. Jordan -Former WFG Investments Broker-Discloses $4M Customer Dispute-Oklahoma City, OK

April 2016- Oklahoma City, OK

UPDATE MAY 2017FINRA Records disclose that Jay D. Jordan currently has 9 pending and 4 prior customer disputes. The recently filed  pending disputes include:

  • FINRA Case 17-0358- customer of WFG Investments alleges damages of $4 million for unsuitable investments
  • FINRA Case 17-0535-customer of WFG Investments alleges damages of $900,000 for unsuitable investments.
  • July 2015 claim by customer seeking damages of $164,645 for unauthorized trading from 6/2011-present.

ORIGINAL POST JUNE 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.

The FINRA records of Jay D. Jordan report that he was discharged from WFG Investments 3/31/2016, with the following allegations made by WFG Investments:
“WFG Investments has reasonably concluded the representative failed to follow certain policies of WFG, including failure to report a customer complaint, attempting to settle a customer complaint, unauthorized use of a personal email address to communicate with a customer and mischaracterizing aspects of an outside business activity”.

In a currently pending customer dispute, the customer alleges unauthorized trading in the account and claims damages of $164,644.

There are 4 prior customer disputes against Jordan reported that have been settled, including a claim that Jordan unsuitable recommendations and engaged in unauthorized trading. That case (NYSE 2002-010629) was settled for payment of $500,000 to the customer.

Jordan was registered with WFG Investments from 9/2005-4/2016.

If you have losses in an account handled by Jay D. Jordan, and believe that your account was mishandled, call to find out how you may be able to recover damages

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