Category Archives: Commonwealth Financial Network

Benjamin Bourgeois, Jr.-Former Commonwealth Financial Broker-Discloses Customer Disputes and a Termination-Metairie, LA

November 2020- Metairie, LA

According to publicly available records, former Commonwealth Financial Network,  financial advisor Benjamin Bourgeois, Jr.   is barred from FINRA and discloses 3 prior customer disputes, a pending customer dispute 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.

In May of 2019  in FINRA case 2019062162101  Bourgeois was  permanently barred from the securities industry to resolve allegations that he failed to produce documents and information requested by FINRA during the course of an investigation into allegations reported on his Form U5 that he, among other things, borrowed money from a customer, converted customer funds and committed fraud.

In August of 2019 a customer of  LPL Financial and Commonwealth Financial Network , alleged that over several years beginning as early as March 2014 Bourgeois induced her to write personal checks purportedly to make investments but which he instead deposited into his personal bank account for his own use and that he potentially recommended unsuitable investments.    The case settled for $15,000.

In April 2019 a customer of Commonwealth Financial Network alleged conversion of customer funds made by personal check purportedly for investment purposes; employing devices, schemes or artifices to defraud; making untrue statements of material facts; fraud.       Customer is seeking $519,500 in damages.     The case is still pending.

In April of 2019 Bourgeois was discharged from Commonwealth Financial Network following allegations of borrowing money from a customer in violation of FINRA Rule 3240 and Firm Policy.

Bourgeois  was employed by Commonwealth Financial Network from May of 2015 until his termination.   Before that time he was registered with LPL Financial and Sterne Agee Asset Management.  

If you have losses in an account handled by Benjamin Bourgeois, Jr., call to learn how 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

Gerald Eaton-Former Commonwealth Broker Barred from FINRA-Terminated After Allegations of Forgery-Waltham, MA

June 2020- Waltham, MA

The FINRA records of Gerald Allan Eaton  , a former stock broker who was last employed  by  Commonwealth Financial Network disclose a regulatory event resulting in his bar from the securities industry 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.

In November 2019, Eaton was permanently barred from the securities industry by the FINRA  after allegations that Eaton failed to provide documents and information requested by FINRA in connection with its investigation into the reason for  his termination by Commonwealth.

Eaton worked for Commonwealth Financial Network from March of 1995 until October 2019, when he was discharged by Commonwealth who alleged that he had committed forgery and wrongfully taken property.

If you have problems in an account  handled by Gerald Allan Eaton  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Cullen Kempson-Former Commonwealth Financial Network Broker-Discloses Regulatory Event & Discharge From Employment-Sparta, NJ

May 2017- Sparta, NJ

According to publicly available records V. Cullen Kempson III (CRD#1280887) ,  a  stockbroker currently registered with American Portfolios Financial Services, Inc discloses a prior 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.

In May 2017 FINRA suspended Kempson for 30 days and fined him $5,000 to resolve allegations that he effected 40 unauthorized trades in a deceased customer’s accounts. While he had written authority to trade the account with discretion while the customer was alive, he did not have that authority follow the customers’ death.

In June 2016 Kempson was discharged by Commonwealth Financial Network who alleged: ” RR failed to provide notification to the firm of the death of two advisory clients in violation of firm policy and industry standards of conduct. “

Kempson has been with American Portfolios Financial Services since 6/2016. He was previously with Commonwealth Financial Network. He discloses a business affiliation with Kempson & Tschopp.

If you have questions about an account in an account handled by Cullen Kempson  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

RIcky R. Moore-Sagepoint Financial Broker-Discloses Regulatory Suspension/Fine-Angleton, TX

May 2017-Angleton, TX

The FINRA records of RIcky R. Moore,  a  stockbroker who is employed by  Sagepoint Financial  disclose a final regulatory event, 3 prior 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.

In 1/2017 FINRA suspended Moore for four months and fined him $37,131 to resolve allegations that he failed to disclose to his firm his outside business activities involving the facilitation of a church bond offering for a church. FINRA alleged that Moore made a false and misleading statement on his firm’s annual compliance questionnaire which asked if he had participated in raising capital.

In FINRA case 12-02353 a customer of Moore’s prior employer, LPL Financial was paid $60,000 to settle claims that they requested Moore place them in a conservative portfolio but he recommended a portfolio overly concentrated in variable annuities and REITs (real estate investment trusts).

Ricky Moore has been employed by Sagepoint Financial since 12/2013. His prior employers include Securities America, Commonwealth Financial Network and LPL Financial Corp. Moore discloses a business affiliation with Oak Financial Group in Angleton, TX.

In 9/2013, Moore was ‘permitted to resign’ from Commonwealth Financial Network who made the following allegation on his FINRA record: “RR was the president of an outside business activity that subsequently engaged another broker-dealer to issue bonds on behalf of the entity, distributed a notice of the sale of bonds on behalf of the entity, and failed to provide prior written notice to or receive written approval from the firm, in violation of FINRA Rules 3270, and 2210..”

If you have questions about an account  handled by RIcky Moore , 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

Lloyd Dotson-Former Commonwealth Financial Network Broker-Sanctioned by Securities Regulator-New Canaan, CT

April 2017- New Canaan, CT

According to publicly available records Lloyd Dotson , (CRD# 2551716) ,  a  former stockbroker who was last employed by Commonwealth Financial Network discloses a prior regulator event, 2 prior 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.

In April 2017 Lloyd Dotson was permanently barred from the securities industry by FINRA for failing to appear for on the record testimony in connection with an investigation into suspected outside business activities, private securities transactions and the overall circumstances surrounding his termination from Common Financial Network. 

Commonwealth discharged Dotson in June 2016 and made the following allegation on his FINRA public record: “RR was engaged in multiple Outside Business Activities where he used an alias to promote participation in multi-level marketing programs. RR failed to provide prior written notice to or receive written approval from the firm, in violation of FINRA rules 3270.”

Dotson discloses other business affiliations with:

  • HarvestWealth Partners
  • Six Figure MentorsLloyd Dotson.

If you have questions about an account  handled by Lloyd Dotson, contact us for a no charge consultation 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