Dion R. Padilla-NEXT Financial Group Stockbroker-Investigation Update

Dion R. Padilla-NEXT Financial Group Stockbroker-Investigation Update

Dion R. Padilla-NEXT Financial Group Stockbroker-Investigation Update 150 150 Robert Rex, Esq.

May 2019 UPDATE- Dion Padilla/ AT&T Retirement Account investigation. See this for details.  

Original Post-May 2016

San Antonio, Texas

According to FINRA records, Dion R. Padilla  a stock broker who has worked for NEXT Financial Group since 2/2006  discloses that a customer has filed an arbitration seeking damages of $347,000. Padilla also operates Padilla Wealth Management.

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 customer alleges that in April 2007 Padilla failed to include a principal protection for life rider in connection with a recommended variable annuity investment.

Padilla discloses that in 2014 a customer alleged that he executed an unauthorized trade involving a variable annuity. That matter was settled for $69,400.

In September 2015 FINRA initiated an investigation of Padilla for a potential violation of FINRA Rule 2010 for making an unauthorized purchase of a variable annuity and other violations related to misrepresentations and omissions. That matter is currently pending.

If you have questions about an account handled by Dion Padilla, 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.

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Rex Securities Law

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