Category Archives: Prospera Financial Services

Joel “Kirk” Corbin-Prospera Financial Services Broker-Discloses Customer Dispute- Lubbock, TX

June 2020 -Lubbock, TX

The FINRA records of JoelKirk” Corbina stockbroker registered with Prospera Financial Services, Inc. , disclose a settled 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 July 2014,  a customer of Prospera Financial Services, Inc. filed  FINRA case #14-02194 alleging unsuitability, negligence, failure to supervise, common law fraud and breach of fiduciary duty in connection with investments in limited partnerships.   The case settled for $95,000.

Corbin has been employed with Prospera Financial Services, Inc.  since  May of 2005.   Before that time he was employed with Wachovia Securities Financial Network, Wachovia Securities and Prudential Securities, Incorporated.  

If you have questions about an account handled by Kirk Corbin 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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Tom “Bud” Arnett, Jr.- Prospera Financial Services Broker- Discloses Settled Customer Dispute-Lubbock, TX

June 2020 -Lubbock, TX

The FINRA records of Tom “Bud” Arnett, Jr. a stockbroker registered with Prospera Financial Services, Inc. , disclose a settled 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 December 2017,  a customer of Prospera Financial Services, Inc. filed  FINRA case #17-03328  alleging gross mismanagement and investor abuse” in connection with the handling of his account from 1/2013-7/2015..  The case was settled for $34,000 with a $25,000 individual contribution from Arnett.

Arnett has been employed with Prospera Financial Services, Inc.  since June 2009.   Before that time he was employed with UBS Financial Services.    

If you have questions about an account handled by Tom “Bud” Arnett, Jr.  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Michael Kamperman-Former HD Vest Broker-Discloses Regulatory Event, Customer Disputes and a Tax Lien-Waco, TX

May 2020-Waco, TX

According to publicly available records of Michael Kamperman (CRD#2002603) ,  a  former stockbroker who last worked for HD Vest Investment Services  discloses  a regulatory event, customer disputes and a tax lien.

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 FINRA Case 2016050400401, alleged Kamperman was suspended for 18 months and fined $20,000 to resolve allegations that he  made  investment recommendations in the 401(k) and IRA retirement accounts of customers  that were unsuitable based on the customer’s financial situation and needs, risk tolerance, investment experience and investment objectives.    The customers suffered over $407,000 in trading losses as a result.

In June of 2016, in FIRNA case 16-01641, a Prospera Financial Services customer alleged that their accounts decreased in value, their investments were not suitable, were over concentrated and that they were not informed of the risk associated with their investments.   Breach of fiduciary duties and contract were also alleged.    The case was settled for $320,000.

In February 2016, the IRS filed an $81,000 tax lien in McLennan County, Texas against Kamperman.

Kamperman was employed with HD Vest Investment Services  from December 2014 until June of 2017.   Before that he was Prospera Financial Services, Inc. and UBS Financial Services, Inc.

If you had an account with Michael Kamperman   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

Michelle D. Drake-Former Rhodes Securities Broker-Discloses Discharge From Employment-Colleyville, TX

April 2017-Colleyville, Texas

The FINRA records of  Michelle Diane Drake ,  a  stockbroker who is currently  registered with   Prospera Financial Services  disclose 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.

 

Drake was discharged by Rhodes Securities 4/28/2015. Rhodes Securities made the following allegations on Drake’s FINRA record in connection with the discharge: “Failed to report a trade to home office when allocation was not received from Chris Anthony at 2:30pm. Failure to adhere to the supervision of (third party’s) heightened supervision, allowing trades to be placed in accounts outside of what the investment objectives stated for the clients account.”

Chris Anthony was discharged by Rhodes Securities on 4/28/2015 also. Anthony is currently named in a $2 million FINRA arbitration. See this for details. 

Drake was employed by Rhodes Securities from 8/2009-4/2015. She is currently registered with Prospera Financial Services in Colleyville, TX.

If you have losses in an account in an account handled by Michelle D. Drake  contact us to discuss how you may be able to recover damages for those losses.

Rhodes Securities is headquartered in Ft. Worth, Texas, and has been a FINRA member since 1987. The company is registered to transact securities business in all fifty states and the District of Columbia.

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

Ari M. Baum-Former Morgan Stanley Broker-Discloses Discharge & Pending Customer Dispute

New York

According to FINRA records,  Ari M. Baum  a stockbroker  who currently works  for Prospera Financial Services , discloses  a termination from employment and a currently pending 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.

Baum discloses  that in 9/2014 he was discharged from Morgan Stanley Wealth Management. The company made the following allegation on Baum’s FINRA record: “Financial advisor altered the contents of an email sent internally related to a delayed banking transaction”.

In currently pending FINRA Case #16-0938, a customer of Morgan Stanley Smith Barney alleges damages of $1,285,000 for unsuitable transactions made in the account from 2013-2014.

Baum has been employed by  Prospera Financial Services since 10/2014. He was employed by Morgan Stanley from 11/2009-10/2014.

If you have questions about an account handled  by Ari M. Baum, 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