John Egan Investigation
January 2024– Glendora, CA
According to publicly available records John Kevin Egan an unregistered broker previously employed by Western International Securities, discloses 4 pending customer disputes and 3 customer disputes that have been settled.
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.
Four customers of Western International have pending claims totaling about $250,000 which allege that John Egan made unsuitable recommendations and misrepresentations.
In 9/2023 a customer of Western International Securities was paid $26,200 to resolve allegations that John Egan misrepresented an investment.
In 8/22, FINRA case #22-01709, filed by a Western International Securities, Inc. customer, alleged unsuitability with alleged damages of $158,000. That case was settled in 5/2023 for $13,166.
In 6/22, a Western International Securities, Inc. customer filed FINRA case #22-01355, alleging unsuitability with alleged damages of $379,250. The case was settled for $50,678.
Egan was employed with Western International Securities, Inc. from 7/1996 until 2/2021 and is affiliated with Coordinated Wealth Management in Glendora, CA.
If you have questions about an investment account with John Egan , call to learn how you may be able to recover damages through FINRA arbitration.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
See this for more information on REITs and Other Alternative Investments
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.
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