JULY 2018 UPDATE – San Antonio, TX
According to publicly available records Barrett Oliver Schultz (aka Barrett Creed) , (CRD# 2741114) , a stockbroker who is employed by McNally Financial Services, disclose two pending customer disputes .
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 recently filed FINRA Case 18-2354, customers of McNally Financial Services Corporation alleges failure to disclose extent of risk, unauthorized trading, unsuitable investments, breach of fiduciary duty, failure to supervise, churning and elder abuse. The customers seek damages of $491,861.
In FINRA Case 17-03274, filed in December 2017, a customer of McNally Financial Services alleges a variety of claims relating to the mishandling of their accounts, including gross negligence, fraud, fraudulent misrepresentation, and aiding and abetting fraud. The customer seeks damages of $845,000 for losses in their portfolio, a refund of commissions paid of $860,000 and $1 million of opportunity cost.
Schultz has been registered with McNally Financial Services since 1/2012. Schultz who was also registered with ILG Securities from 12/2006-5/2018, discloses business affiliations with Investors Life Insurance Company of North America (ILINA) and Barrett Schultz Consulting LLC.
FINRA records of McNally Financial Services Corporation disclose two prior regulatory matters. In 2013 McNally Financial Services Corporation was censured and fined $15,000 for deficiencies in their written supervisory procedures related to the sale of complex, non-conventional products including Steepeners.
If you have questions about an account in an account handled by Barrett O. Schultz , 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.
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