Chadwick Collins Investigation
May 2022-Carlsbad, CA
The FINRA records of Chadwick Collins, a Kestra Investment Services/Wedbush Securities broker discloses 3 pending customer disputes, 3 prior finalized customer disputes 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.
Between May of 2013 and June of 2021 three customer complaints were filed alleging among other things: that Collins made unsuitable recommendations and investments that were inconsistent with his investment profile, commissions were not disclosed in advance of transactions and excessive trading. These cases were collectively settled for $306,559.
IN 4/2022 a customer of Kestra Investment Services filed a claim alleging unsuitable investments in Nabriva Therapeutics (NBRV) and Equilium (EQ) a personal account and an IRA. Damages of $466,450 are sought.
In November of 2021, a Kestra Investment Services customer alleged that Collins was neglectful and reckless with the management of their portfolio. Alleged damages are $2,375,000 and the case is still pending.
Also in November of 2021, another Kestra Investment Services customer alleged lack of fiduciary responsibility and margin activity with alleged damages of $1,000,000 in a trust and an IRA. This case is curently pending.
In 2009, Collins was discharged from his employment with Merrill Lynch, Pierce, Fenner & Smith for violating the firm’s policies regarding short term mutual fund trading and having checks in his personal account returned for insufficient funds.
Collins has been with Wedbush since 2/2022. He was with Kestra Investment Services 1/2017-2/2022. Before that time he was with Wells Fargo Clearing Services and Merrill Lynch, Pierce, Fenner & Smith.
If you have losses in an account handled by Chadwick Collins call to learn how you may be entitled to collect 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.
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