Category Archives: United Planners Financial Services

Dexter L. Thomas Litigation Update-June 2019-Dallas, TX

June 2019  UPDATE–Dallas, TX

We are currently pursuing FINRA arbitration claims on behalf of more than 20 individuals who were were customers of Dexter Thomas Financial Services. These individuals are seeking recovery of damages from National Planning Corporation, LPL Finanical and United Planners, the brokerage firms who employed Mr. Thomas.  

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.

The claims allege damages to their accounts  for unsuitable investment recommendations, including annuity investments, and churning of accounts.

Dexter Thomas “Loans”

We are investigating claims on behalf of an individual for a fraudulent loan Mr. Thomas made from the client.

According to FINRA records, Dexter Thomas, was last registered with United Planners Financial Services of America and operated Dexter Thomas Financial Services in Dallas.  His FINRA record discloses  13 pending customer disputes that seek damages in the millions.

Thomas was  employed by National Planning Corp. from 9/2006-11/2017and from 11/2017-8/2018 he was employed by United Planners. These prior employers can be held accountable for losses you may have suffered.

NATIONAL PLANNING CORP.  SANCTIONED OVER ANNUITY SALES 

On July 24, 2018, NPC was hit with  very significant sanctions by FINRA related to the sale of annuities. FINRA found that NPC received over $152 million from the sale of variable annuities, including $56 million from the sale of L-share variable annuities which were sold to customers without investigating the suitability of the product for the customer.

FINRA has fined NPC $650,000. In addition, NPC has agreed to disgorgement of up to $6 million to affected customers.

National Planning Corp. has also been known as Jackson National Financial Services and NPC of America.

DID YOU MAKE A CLAIM THAT WAS DENIED ?

 If you made a claim for losses with one of the brokerage firms where Dexter Thomas was employed and that claim was denied, call for a no obligation consultation to learn how we may be able to recover damages on your behalf.

If you have questions about an investment account handled by Dexter Thomas , questions about annuities you may have been sold, a loan to Mr. Thomas or other financial matters involving Thomas, contact us 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

Dexter Thomas Litigation Update-Former National Planning Corp. Broker-Dallas, TX

May 2019 Litigation UPDATEFollow this link for the latest on the Dexter Thomas litigation. 

If you made a claim for losses that was denied by Mr. Thomas’ former employer, call to learn how you may be able to recover damages through FINRA arbitration.

If you have questions about an account handled by Dexter Thomas contact us 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

Mark C. O’Meara – McNally Financial Services Broker-Discloses Customer Disputes-Georgetown, TX

June 2017 – Georgetown, TX

According to publicly available records Michael C. O’Meara  (CRD#2652113) ,  a  stockbroker who currently works for San Antonio-based McNally Financial Services Corp.  discloses three prior final 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.

Prior customer disputes against Michael C. O’Meara resulting in the payment of compensation include:

  • FINRA 12-03167 -While employed by Investors Capital, Corp. a customer sought damages of $400,000 and alleged unsuitability in connection with the purchase direct participation programs  & limited partnership interests.   The case was settled in the amount of $125,000.
  • While employed with Banc One Securities Corporation,  a customer sought damages of $73,454  and alleged “failure to execute an order to sell” involving Mutual Funds.   That case was settled in the amount of $65,000.

O’Meara has been employed  by McNally Financial Services since 8/2013.    He was previously employed by Investors Capital, Corp. from 7/2008 to 1/2011, Genworth Financial Serviced 1/2011-3/2011, United Planners Financial Services 3/2011-7/2013.

O’Meara discloses a business affiliation with O’Meara Financial Services in Georgetown, TX.

If you have losses in an account handled by Mark C. O’Meara, you may be able to recover damages from his employer through FINRA arbitration. 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

Richard Cella – Former Investors Capital Broker- Discloses Customer Dispute- Danvers, MA

April 2017- Danvers, MA

According to publicly available records Richard C. Cella, (CRD#1225988) ,  a  stockbroker who  was previously registered with Investors Capital Corp. discloses a customer dispute over a tenant in common investment (TIC).

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 #14-01842 a customer of Investors Capital Corp. alleged damages of  $1,991,869 in connection with a tax free exchange  utilizing a tenant in common property (TIC).   The case was settled for $715,000.

Cella was employed with Investors Capital from November 2003 until August of 2016. He is currently employed by United Planners Financial Services. He discloses a business affiliation with Ipswich Bay Advisors and 401K Capital Advisory.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

If you have questions about an account in an account handled by Richard Cella contact us 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Donald A. Bartelt-Former Newport Coast Securities Broker-Discloses Pending Regulatory Action for Churning

July 2016-Cave Creek, AZ

The FINRA records of Donald A. Bartelt  , a former stock broker who was last employed by  Newport Coast Securities  disclose a pending regulatory event,  a prior customer dispute , a pending customer dispute and a pending financial event.

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.

Bartelt‘s FINRA disclosure reports that he is named in a FINRA complaint alleging that he, with his then member firm Newport Coast Securities and other firm representatives excessively traded and churned customer accounts. FINRA alleges that the trading was excessive in light of and inconsistent with, the customer’s investment objectives. FINRA Case# 2012030564701.

In the currently pending dispute a customer of Newport Coast Securities alleges damages of $113,000 for misconduct from 6/18/2010-1/23/13.

Bartelt discloses a pending Chapter 13 bankruptcy proceeding in the District of Arizona.

Bartelt was employed by   Newport Coast Securities  from 5/2010-8/2014. Prior to that he was with United Planners Financial Services. He is not currently registered with any FINRA broker dealer.

Investors who suffered losses in an account handled by Donald A. Bartelt may be entitled 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