Category Archives: LPL Financial

Allstate Financial Services, Failure to Supervise, Finra Investigation of Stockbroker, LPL Financial, Merrill Lynch, Misrepresentation, Outside Business Activities, Selling Away, Stockbroker Malpractice

Jason Poff-Allstate Financial Services-Discloses Customer Complaint & Regulatory Event-Houston, TX

April 2021- Houston, TX

According to his FINRA record  Jason H. Poff , a financial advisor employed by Allstate Financial Services  discloses a pending regulatory investigation and a prior customer dispute.

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 12/2020 FINRA initiated an investigation into an alleged outside business activity operated by Poff while he was employed by LPL Financial. According to the regulatory complaint Poff drafted consulting contracts between this outside business and his FINRA firm. The entity was to offer loans and process cashier’s checks . It is alleged that Poff falsely attested to his FINRA member firm that he was not involved in any outside business activities.

In 2009, a customer of Poff’s then employer, Chase Investment Services was paid about $38,000 to resolve allegations that Poff failed to follow instructions relating to a variable universal life insurance policy.

Prior to working for Allstate Financial, Poff was employed by LPL Financial, Merrill Lynch and Chase Investment Services. Poff discloses a business affiliation with Ursus Financial Group located in Houston, TX.

If you have questions about  an account handled by Jason Poff call for a no charge consultation with an experienced securities attorney.

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

Failure to Supervise, LPL Financial, Merrill Lynch, Misrepresentation, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Woodbury Financial Services

Beliveau Bays-Former LPL Financial Stockbroker-Discloses Customer Complaints-Plano, TX

April 2021- Plano, TX

According to his FINRA record  Beliveau Bays, a financial advisor previously employed by LPL Financial and Woodbury Financial Services discloses 2 pending and 2 prior customer disputes 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.

While employed by Woodbury Financial Services two customers complained that Bays had recommended unsuitable purchases of real estate investments. Both of those claims were denied and it appears from the public record that the customers did not proceed with the filing of arbitration.

There are two currently pending customer disputes, both of which allege that Bays affixed the customer’s signature to account documents. No specific damages are alleged.

In 2/2021 Beliveau Bays was discharged by LPL Financial. LPL alleged that Bays provided misrepresentations to the firm in response to inquiries surrounding Bays submission of key person life insurance applications.

Earlier in his career Bays was discharged by Merrill Lynch in 3/2016 who alleged that Bays traded in customer accounts without the customer’s authority.

If you have questions about  an account handled by Beliveau Bays of Bays Capital Management call for a no charge consultation with an experienced securities attorney.

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

Cetera Advisors, Cetera Financial Group, Citizens Securities, LPL Financial, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Keith Thomas Lohm, Sr.-Previous Citizens Securities, Inc. Broker-Discloses Termination- Pittsburg, PA

November  2020- Pittsburg, PA

According to publicly available records  Keith Thomas Lohm, Sr. (CRD#1516728), a  former stockbroker who last worked for Citizens Securities, Inc.,  discloses 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 October 2019,  Lohm was discharged by his employer, Citizens Securities, Inc. after allegations of violations of bank policy when he reused a client’s signature instead of getting the client to actually sign the document.

Lohm worked with Citizens Securities, Inc. from April 2018 until November of 2019.   Before that he was with LPL Financial, Cetera Investment Services, OBS Brokerage Services, Inc., Nationwide Securities, and World Capital Brokerage.   

If you had an account with Keith Lohm that suffered losses, you may be entitled to collect damages from his prior employer. Call 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

LPL Financial, Selling Away, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Michael Mountjoy-Former LPL Financial Broker- Discloses Regulatory Event and Termination-Louisville, KY

November 2020- Louisville, KY

According to publicly available records Michael Mountjoy (CRD#4421573), an unregistered broker who last worked for LPL Financial,  discloses a 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 2020, FINRA  case #2018060881501 alleged the Mountjoy participated in private securities transactions without providing prior written notice to his member firm.   The findings stated that he solicited investors consisting of friends and business associates to invest in a minor league professional soccer team based in Louisville, KY.    He solicited a total of $378,000 in investments from four individuals.    Sanctions imposed were a six month suspension and a $10,000 fine.

In November 2018,  Mountjoy was discharged from employment from LPL Financial after allegations that he violated the Firm’s outside business activity and private securities transaction policy.

Mountjoy worked for LPL FInanical from 7/2010-12/2018 when he was discharged for engaging in outside business transactions not authorized by his firm. He also discloses a business affiliation with  MWM Advisory Services and Meritrust Wealth Management .

If you had an account with Michael Mountjoy that suffered losses, you may be entitled to collect damages from his prior employer. Call 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

Finra Investigation of Stockbroker, Fraud, LPL Financial, Stockbroker Malpractice, StockBroker Misconduct

Patrick Coogan-LPL Financial Broker- Permanently Barred from Securities Industry- Baton Rouge, LA

November 2020- Baton Rouge, LA

According to publicly available records, former LPL Financial   advisor Patrick Coogan,  has been barred from the securities industry by FINRA.

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 2020,  in FINRA case 2018058134301sd, Coogan was  permanently barred from the securities industry to resolve allegations that he made reckless misrepresentations of material fact in agreements he signed in connection with loans his customer obtained from multiple banks.   Coogan enabled the customer to improperly obtain multiple bank loans by over-pledging the customer’s assets and making material misrepresentations to the lender banks.

Coogan had been employed by LPL Financial since June of 2009.   Coogan operated his financial services business through  a dba called Champion Wealth Strategies. 

If you have losses in an account handled by Patrick Coogan, 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