Category Archives: WFG Investments

Gary Haack-Former Corecap Investments Broker-Discloses Settlement of Customer Dispute-San Antonio, TX

April 2018- San Antonio, Texas

According to publicly available records Gary C. Haack  (CRD#2796834) ,  a  stockbroker who is not currently registered with any broker dealer and who was last employed by Corecap Investments  discloses  2 prior 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 FINRA arbitration 15-0836, a customer of one of his prior employers, WFG Investments,  sought damages of $115,000 and alleged unsuitable investments in speculative products in connection with an investment in a private placement offering of medical and research firms. The case was settled for $70,000 in 6/2016.

Gary C. Haack  was employed by Corecap Investments from 6/2016-12/2017. His prior employment includes FSC Securities, WFG Investments and NEXT Financial Group.

If you have questions about an account handled by Gary C. Haack  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

Jay D. Jordan-Former WFG Investments Broker-Subect of $9M in Customer Claims-Oklahoma City, OK

February 2018-Oklahoma City, OK

According to publicly available records Jay D. Jordan  , (CRD# 1776666) ,  a  former stockbroker who last worked for WFG Investments  discloses that he was recently permanently barred from the securities industry by the Oklahoma Department of Securities for a variety of reasons, including:

  • engaging in dishonest and unethical practices by effecting unauthorized transactions in customer accounts
  • exercising discretionary power in customer accounts
  • disclosing customer account information to an unauthorized third party
  • recommending investment strategies without reasonable grounds
  • making false statements to his brokerage firm

He was also barred from the securities industry by FINRA for exercising hundreds of unsuitable purchases of non-traditional exchange traded funds (ETFs). exercising discretion, and failing to report customer complaints to his firm.

His FINRA record discloses 10 pending and 4 prior customer disputes 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 the previously resolved customer complaints, damages in excess of $1 million were paid to settle claims by customers.

The currently pending claims by customers of Jordan seek damages in excess of $9 million.

Jordan was employed by WFG Investments  from 9/2005-4/2016. He was discharged by WFG Investments 3/2016. WFG made the following allegation on Jordan’s FINRA record in connection therewith: “WFG has reasonably concluded the representative failed to follow certain policies of WFG, including: failure to report a customer complaint, attempting to settle a customer complaint, unauthorized use of a personal email address to communicate with a customer, and mischaracterizing aspects of an outside business activity.”

If you have losses in an  investment account handled by Jay D. Jordan , 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

James Pheney-Former WFG Investments Broker-Discloses Pending Customer Dispute-Castle Rock,CO/Brenham, TX

July 2017 -Castle Rock, CO-Brenham, Texas

According to publicly available records James K. Pheney  (CRD#1272932) ,  a  stockbroker who currently is employed by Mid Atlantic Capital Corp.  disclose a 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.

In December of 2016, a  customer of Pheney’s prior employer,WFG Investments, Inc. ,  filed a complaint seeking damages of $240,000 alleging misrepresentation in connection with the purchase of a municipal bond. That matter is currently pending.

Pheney was employed by  WFG Investments from 1/2005-8/2017. He joined Mid Atlantic Capital Corp. in 8/2017. Pheney discloses a business affiliation with Plum Creek Investment Services with offices in Castle Rock, CO and Brenham, Texas.

If you have questions about an account handled by James Kevin Pheney, contact us 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

Damian Bell -Prior WFG Investments, Inc. Broker-Discloses Customer Disputes-Daphne, AL

September  2017 – Daphne, AL

According to publicly available records Damian M. Bell  (CRD#2348521) ,  a  stockbroker who was previously employed by WFG (Williams Financial Group) Investments, Inc.  disclose 2 pending and 5 prior 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 April of 2017, a customer of  WFG Investments, Inc. filed a  dispute alleging unsuitable recommendations in mutual funds.   That complaint was settled for $4,950.

In March of 2016,  a customer of  WFG Investments, Inc. filed FINRA arbitration 16-0346 alleging failure to conduct a reasonable investigation into an investment in a private placement, Servergy , misrepresentation, unsuitable recommendations and breach of fiduciary duty.   That dispute was settled for $250,000.

In August 2002 a customer of Merrill Lynch, Pierce, Fenner & Smith, Inc.  filed NASD arbitration 6-4415 alleging unsuitable recommendations and failure to disclose fees.   That case settled for $40,000.

In March of 2017, a customer of  WFG Investments, Inc.  , filed FINRA arbitration #17-00822  seeking damages of $505,000 and alleging failure to conduct reasonable due diligence, material misrepresentations and failed to disclose material facts in connection with an investment in a private placement.   This case is currently pending.

In November of 2016, another customer of WFG Investments, Inc. , filed FINRA arbitration #16-03305 seeking damages of $1,100,000 alleging failure to conduct due diligence, material misrepresentations and failure to disclose material facts.  This case is currently pending.

Damian Bell was employed by   WFG Investments from April of 2010 until May of 2017. He has been employed by International Assets Advisory since 6/2017.

If you have questions about an account handled by Damian Bell, contact us 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

Cathy And Tim Couch-Husband and Wife Brokers With WFG-Disclose Customer Dispute-Dawsonville, GA

June 2017- Dawsonville, GA

According to publicly available records Cathy Hall Couch  (CRD#5276791) , a  stockbroker who currently is employed by WFG Investments, Inc.  disclose a 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.

In FINRA case #17-00986, a  WFG Investments, Inc.  customer alleges unsuitable recommendations, material misrepresentations, high frequency trading and undue securities concentration or the period 2009-2016 and seeks damages of $1,500,000.

Cathy Couch has been with  WFG Investments since August of 2000.  Her other business activities include working with her husband,  Tim Couch, PC, CPA as an accountant.

According to publicly available records , her husband Harry Tim Couch (CRD#4073942), a stockbroker who is also employed by WFG Investments, Inc.  disclose a regulatory event, a pending customer dispute and a termination.

In a final regulatory action initiated by the US Securities and Exchange Commission in 2007, Tim Couch was sanctioned against practice before the SEC as an accountant for a period of four years after allegations that Couch “issued unqualified audit opinion letters for financial statements that were materially misstated.” 

Tim Couch is also named  in FINRA case #17-00986, as described above, with alleged damages of $1,500,000.

In 2008 TIm Couch was discharged from Triad Advisors, Inc.  who made the following allegation on his FINRA record:  “The Triad Compliance Department has concluded its review of the facts and circumstances surrounding a possible misappropriation of client funds by a third party, and the subsequent attempt to cover up by the representative. Triad has determined the representative violated Triad’s internal policies and procedures ” 

If you have questions about an account handled by Cathy Hall Couch  or Harry Tim Couch contact us 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