Category Archives: Ladenburg Thalmann Financial

Triad Advisors to Pay $194,000 in Fines and Restitution for Allowing Churning of Accounts

February 2020-Norcross, GA

FINRA reports that Triad Advisors,LLC,  a national, independent broker-dealer and multi-custodial SEC-Registered Investment Advisor, headquartered in Atlanta, has been fined and ordered to pay restitution to customers totalling $194,000 for inadequate supervision of its brokers who engaged in short term trading of mutual funds and variable annuities.

This practice is known as churning or switching and is generally done by financial advisors to generate commissions. According to regulators, “from June 2015 through December 2017, Triad failed to establish, maintain, and enforce reasonable supervisory procedures that were reasonably designed to identify possible inappropriate rates of VA exchanges” FINRA noted, adding that over time Triad had also fallen short in filing the necessary disclosures related to customer arbitrations and complaints.

At the time covered by the Finra settlement, Triad was owned by Ladenburg Thalmann Financial Services Inc.

Poor supervision of broker dealers is a longstanding issue for the retail securities industry.   

In 2016, MetLife Securities was hammered with a $25 million fine by FINRA for their enormous compliance failings when changing clients from one annuity to another.

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

Daniel J. O’Neill-Aegis Capital Broker-Discloses Pending Customer Dispute and Outstanding Liens

July 2016-Melville, New York

The FINRA records of Daniel J. O’Neill ,  a  stock broker currently employed  by Aegis Capital Corp. , disclose a pending customer dispute, a prior final financial event 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 the currently pending matter received by the company in February  2016, a customer of Aegis Capital  alleges unspecified damages for unauthorized trades and misuse of margin from May 2013-June 2015.

O’Neill discloses a discharge from Chapter 7 bankruptcy in 10/2009.

O’Neill discloses the following outstanding judgment/liens:

  • $30,000 in favor of Ladenburg Thalmann & Co. filed in Supreme Court of New York, Suffolk County.
  • $56,151 in favor of the Internal Revenue Service filed in Suffolk County, NY.
  • $7,414  tax lien in  favor of the State of New York filed in Suffolk County.

O’Neill has been employed by Aegis Capital since 4/2013. He was with Ladenburg Thalmann from 3/2011-5/2013 and Maxim Group from  8/2007-4/2011.

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

Robert L. Rosenstein-Moody Capital Solutions Broker-Discloses Judgements/Liens

Dawsonville, Georgia

According to FINRA records,  Robert L. Rosenstein   a stock broker  formerly employed by Ladenburg, Thalmann & Co. , discloses the discharge from a Chapter 7 bankruptcy in 2012  and 5 pending judgment/liens. He is currently employed by Moody Capital Solutions

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.

Rosenstein discloses five judgments/liens, including a lien for $307,666.11 filed in the Superior Court of Fulton County, GA in favor of the Internal Revenue Service.

Rosenstein was employed by Ladenburg Thalmanfrom 3/2010-7/2011. Prior to that his employment includes Midsouth Capital and Cardinal Securities.

If you have questions about an account handled  by Robert L. Rosenstein, 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Casey J. Alexander,Former Gilford Securities Broker-Named in Customer Arbitration

New York

According to FINRA records, Casey J. Alexander, a broker who formerly worked for Gilford Securities , discloses 3 customer disputes, 2 of which have been finalized and one of which is pending.

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 the pending matter, FINRA Case 14-2418, a customer alleges damages of $875,000 based upon control person liability for the alleged wrongful acts of one of the firm’s brokers.

Alexander was registered with Gilford Securities from 3/1996-10/2015. He is is currently registered with Ladenburg Thalmann & Co.

If you have losses in an account handled by Casey J. Alexander , 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

Samuel D. Wyman, Jr-Former Gilford Securities Broker-Named in Customer Dispute

Westhampton Beach, New York

According to FINRA records, Samuel D. Wyman, Jr., a broker who formerly worked for Gilford Securities , discloses 3 customer disputes, 2 of which have been finalized and one of which is pending. Wyman has been the subject of one regulatory event and one 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 the pending matter, FINRA Case 16-0834 , a customer alleges damages of $175,000 on investments that were unsuitable.

Wyman was registered with Gilford Securities from 1/2003-10/2015. He is currently registered with Ladenburg Thalmann & Co..

If you have losses in an account handled by Samuel D. Wyman, Jr , you may be able to recover damages through FINRA arbitration. Call for a no charge consultation 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