Category Archives: IFS Securities

George M. Warner-Chelsea Financial Broker-Discloses Regulatory Sanction -Rockwall, TX

May 2018-Rockwall, TX

The FINRA records of  George M. Warner ,  a  stockbroker who is currently registered with Chelsea Financial Services disclose a prior regulatory event, a prior customer dispute and 2 terminations 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 4/2017 Warner was fined $5,000 and suspended for 30 days by FINRA to resolve allegations that he altered various customer documents on at least five occasions after the documents had already been signed by the customers. The findings stated that Warner corrected or included the customer’s anticipated liquidity needs, net worth, liquid net worth, and or annual income on new account forms, alternative investment forms, and an IRA application. FINRA Case 2014043727001. 

In 2/2010 , while employed by LPL Financial , Warner settled a customer dispute for $225,000. The customer alleged that he made an error in connection with the purchase of CIT bonds versus Citi Corp. bonds.

In 11/2014 Warner was ‘permitted to resign’ from NFP Advisors who made the following allegation on his FINRA record: “Rep corrected client documents after client signature. “

In 6/2013 Warner was discharged from LPL Financial who made the following allegation on his FINRA record: “Employment terminated by related bank program for obtaining client signatures on blank account transfer forms. “

George Warner’s employment history includes:

  • Dominion Investor Services               3/2017-4/2017
  • IFS Securities                                               12/2014-3/2017
  • NFP Advisor Services                               7/2013-12/2014
  • LPL Financial                                                 4/2003-6/2013

Warner discloses a business affiliation with Summit Rockwall Wealth Managers LLC and Financial Gravity. 

According to their website, the Certified Financial Planning Board has disciplined Warner by issuing  a Letter of Admonition.

If you have losses in an account in an account handled by George Warner , 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

Jim Flynn-Former Voya Financial/IFS Securities Broker-Discloses Settlement of Customer Settlements Over REIT Investments-Greenville, S. Carolina

July 2018-Greenville, SC

The FINRA records of  James Travis Flynn ,  a  former Voya Financial Advisors stockbroker disclose  a recent regulatory suspension, a pending customer dispute, 10 prior customer disputes, 2 terminations from employment and 3 outstanding judgment/liens.

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 June 2018, Flynn was suspended indefinitely by FINRA for failing to respond to FINRA’s request for information in connection with a FINRA investigation.

Settlements with Flynn customers include:

In June 2018 a Voya Financial customer was paid $75,000 to resolve allegations that Flynn recommended unsuitable  alternative investments for the clients IRA and joint account.

In February 2018 a customer of Voya Financial Advisors was paid $32,912 to resolve allegations that a real estate investment trust (REIT) purchased in June 2015 was not suitable and that the customer was not aware of the risks involved or that the REIT wasn’t actively traded.

In September 2017 a customer of Voya Financial Advisors sought damages of $115,000, alleging that he questioned the suitability of real estate investment trusts (REITs) purchased in 2014 and 2015 and the replacement of a variable annuity policy. Voya paid the customer $167,673 to resolve the case in 9/2017.

In another recently resolved matter,  a customer of Voya Financial and Brookstone Securities alleged damages in connection with a $575,000 investment in annuities and real estate investment trusts (REITs). The customer alleged that they should not have been allowed to invest all of their retirement funds in unsuitable investments. In 8/2017, Voya paid the customer $196,788 to resolve the matter.

In February 2017  Flynn was discharged from Voya Financial Advisors who made the following allegation in connection therewith: “The representative provided misleading information to the Firm during a complaint investigation” related to a variable annuity.

Most recently, in 2/2018, Flynn was discharged from IFS Securities. The firm made the following allegation in connection with Flynn’s discharge: “Client alleges trading ahead of authorization.”.

Flynn discloses outstanding Federal Tax Liens of $256,165 and $18,837 and a Chapter 11 bankruptcy filing in 2013.

Jim Flynn, who is not currently registered, was employed by  IFS Securities from 2/2017-2/2018. . He was registered with Voya Financial Advisors 5/2013-2/2017, Capital Investment Group in Greer, SC, 7/2011-6/2013 and Brookstone Securities 9/2006-7/2011. Flynn discloses a business affiliation with Flynn Insurance Group and Flynn Wealth Management in Greenville, South Carolina.

If you have losses or questions about an account  handled by James  (Jim) T. Flynn , contact us for a no charge consultation 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

George M. Warner-Former LPL Finanical Broker-Discloses Terminations/Dispute/Suspension-Rockwall, TX

October 2017-Rockwall, TX

The FINRA records of  George M. Warner ,  a  stockbroker who is currently registered with Chelsea Financial Services disclose a prior regulatory event, a prior customer dispute and 2 terminations 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 4/2017 Warner was fined $5,000 and suspended for 30 days by FINRA to resolve allegations that while employed by Kestra Financial Services, he altered various customer documents on at least five occasions after the documents had already been signed by the customers. The regulatory findings state that Warner corrected or included the customer’s anticipated liquidity needs, net worth, liquid net worth, and or annual income on new account forms, alternative investment forms, and an IRA application. The findings state that by changing new account documentation of the customer’s, Warner caused his member firm to preserve and maintain altered books and records. FINRA Case 2014043727001. 

In 2/2010 , while employed by LPL Financial , a customer alleged that Warner made an error in connection with the purchase of Citi Corp bonds causing losses of $329,426. That matter was settled for $225,000.

In 11/2014 Warner was ‘permitted to resign’ from NFP Advisor Services who made the following allegation on his FINRA record: “Rep corrected client documents after client signature. “

In 6/2013 Warner was discharged from LPL Financial,  who made the following allegation on his FINRA record: “Employment terminated by related bank program for obtaining client signatures on blank account transfer forms. “

George Warner’s employment history includes:

  • Dominion Investor Ser.-Rockwall, TX                       6/2017-7/2017
  • Dominion Investor Ser.-Horseshoe Bay, TX          3/2017-4/2017
  • IFS Securities-Rockwall, TX                                        12/2014-3/2017
  • NFP Advisor Services-Rockwall, TX                     7/2013-12/2014
  • LPL Financial-Rockwall, TX                          4/2003-6/2013

Warner discloses a business affiliation with Summit Rockwall Wealth Managers LLC, in Rockwall, Texas.

If you have losses in an account in an account handled by George M. Warner , 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

Jason Anderson, Former LPL Financial Broker- Named in Unauthorized Trading/Churning Suit-Beaumont, TX

January 2018 – Beaumont, Texas

TEXAS STATE SECURITIES BOARD SUSPENSION-On January 30, 2018 Texas Securities State Securities Board (TSSB) Commissioner Travis J. Iles entered a Disciplinary Order  suspending Jason N. Anderson, a former LPL FInancial stockbroker, for charging  unreasonable fees to clients.

The order suspended Anderson for 90 days.

According to the Texas order, Anderson, while employed by LPL Financial LLC, recommended an active-trading strategy based on an analysis of a stock’s current price compared with its historical prices. He recommended the active-trading program to clients who had stated their preference for growth with a moderate amount of risk.

The TSSB order alleged that the active-trading program recommended by Anderson would have had to generate extraordinary returns just to offset the trading costs and commissions paid to Anderson. In one example, a client’s costs were nearly 30% of the equities held in the account.

FINRA SUSPENSION– In October 2017 Jason N. Anderson was suspended indefinitely by FINRA who noted on his official record: “Respondent Anderson failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”

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, two elderly former customers of LPL Financial filed a class action lawsuit against LPL Financial and their former broker Jason N. Anderson seeking damages on behalf of  current and former clients of Anderson. The suit alleges unauthorized trading, churning and mismanagement of customer accounts from 4/2007-1/2016.

LPL Financial challenged the suit that was filed in Jefferson County, TX, and  the case was removed to federal court for the Eastern District of Texas. In August 2017, the case was  remanded back to the 58th Judicial District Court of Jefferson County, Texas.

According to his FINRA  record, Anderson worked for LPL Financial from 2007 until January 2016 when he was fired for for conducting discretionary trading in customer accounts, in violation of firm policy.

Following his discharge from  LPL Financial, Anderson was employed by Kovack Securities for a few months,  1/2016-5/2016. Kovack Securities discharged Anderson because they found incomplete signed documents during a firm audit.

Anderson then joined IFS Securities from 5/2016-4/2017. He is not currently registered with any firm.

A discretionary account is one that allows a broker to buy and sell securities without  first obtaining the client’s consent. Discretionary trading generally requires that permission be granted by the client in writing.  Most accounts are non discretionary, meaning the broker is required to consult with the customer and obtain permission before executing trades. Trades made in non discretionary accounts without consulting with the customer are unauthorized trades.

Investor suits for damages are generally required to be pursued in arbitration before the Financial Industry Regulatory Authority (FINRA) in accordance with the new account agreement customers sign when opening an account. FINRA arbitration is a method of dispute resolution that is generally much more expedient and less costly than court litigation.

If you had an account with Jason Anderson and suffered losses due to unauthorized trading, churning, mismanagement or other reasons, contact us to learn how you may be able to recover damages from his prior employer.

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