Category Archives: Annuities

Investigation of FSC Securities Broker Lee Kramer -West Palm Beach, FL/Frederick, MD

October 2020- West Palm Beach, Florida/Frederick, Maryland

We are investigating FSC Securities Corporation financial advisor Lee R. Kramer.

According to publicly available records, Lee R. Kramer discloses 7 prior regulatory events, two pending customer disputes and one prior customer dispute, and 2 terminations from employment.

Kramer’s regulatory issues include allegations by Massachusetts securities regulators that he was the subject of 7 disclosures alleging alteration of a variable annuity application, failure to provide notice of replacement of a variable annuity, failure to disclose consent orders to state regulators, possible signature irregularities and failure to report customer emails to his supervisor. Massachusetts R-2005-188.

In pending FINRA Case 19-2969, a customer of FSC Securities alleges that Kramer made unsuitable recommendations to invest in an annuity, a business development company and unsuitable stocks. The customer is seeking damages of $93,000.

In another recently filed matter a customer of FSC Securities is seeking $62,000 alleging that Kramer recommended an unsuitable investment in a business development company.

IN 2005, Kramer was discharged by Securities America who allege that Kramer failed to disclose state insurance department consent orders.

In 2002, Kramer was ‘permitted to resign’ from Veravest Investments after an internal audit of over 800 customer files indicated that some customer files contained possible predictive statements, possible signature irregularities and two unreported emails from deaf customers.

Lee Kramer has been employed by FSC Securities since 3/2005.

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.

If you have information that you think would be helpful to our investigation of FSC Securities Corp. financial advisors Lee Kramer please contact our Boca Raton, FL, office at the number below.

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

Enrique Lopez-Former LPL Financial Advisor-Subject of $2 Million Customer Suit-McAllen, Texas

January 2020-McAllen, Texas

The FINRA records of  Enrique Lopez,  a  broker who is currently employed by  Arkadios Capital  disclose a pending customer dispute and two 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 the currently pending FINRA case 19-1608 a customer of Lopez’s prior employer, LPL Financial is seeking damages of $2 million and alleges that between 2014 and 2016 Lopez misrepresented and recommended unsuitable concentrated investments in real estate investment trusts (REITs). In additon the customer allege that Lopez recommended an unsuitable annuity switch.

In a prior case, FINRA 17-904,  a customer of LPL Finanical was paid $1.5 million to resolve allegations that Lopez violated the Texas State Securities Act and made unsuitable recommendations.

Enrique Lopez worked for LPL Financial from 3/2008-8/2018, at which time he moved his practice to Arkadios. Lopez discloses business affiliations with Cristobal Eden Partners and Texas Regional Bank in McAllen, Texas.

If you have losses in an account  handled by Enrique Lopez , contact us for a no charge consultation to discuss your legal options for recovery.

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, at no cost to you.

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

William Gordon-Capital Financial Services Broker-Discloses12 Customer Suits-Clearwater, FL

February 2019 – Clearwater, FL

According to publicly available records  William B. Gordon  (CRD# 2127800) ,  a   registered stockbroker currently employed by Capital Financial Services  disclose a prior regulatory event, a pending customer dispute and 12 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 2009, an Investors Capital Corporation customer filed FINRA case #09-01323 alleging negligence, breach of fiduciary duty and common law fraud in connection with the purchase of certain investments, including REITs.    The customer was awarded damages of  $150,970.

Eleven other Investors Capital Corporation customers filed customer complaints against Gordon with allegations ranging from  unsuitable investments, breach of contract, breach of fiduciary duty, negligence to fraud.   Total settlements paid to the customers was in excess of $1.1 million.

In pending FINRA case 19-0204,  a customer of Capital Financial Services, Inc.,  alleges unsuitability, misrepresentation and omissions and breach of fiduciary duty in connection with REIT and annuity investments. The customer is seeking damages of  $200,000.

Gordon was employed by Investors Capital Corp. from 1998 until November of 2010.   He has been employed with Capital Financial Services, Inc. since 11/2010.

If you have losses in an account handled by William Gordon, contact us for a no charge consultation to learn how you 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

Brandon Long-Former BCG Securities Broker-Discloses Customer Suits & Regulatory Actions-Roswell, GA

February  2019 – Roswell, GA

According to public records of Brandon P. Long (CRD#5975459)  a  stockbroker previously employed by BCG Securities,  Inc., discloses a regulatory event, a civil event, 3 customer dispute settlements 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 October of 2017, Long was permanently barred from the securities industry to resolve regulatory allegations that he made misrepresentations and induced federal employees to rollover their federal retirement accounts into annuities which resulted in losses for the customers. According to the allegations commissions of $1.7 million were earned on the sale of some $40 million in annuities. 

Long was employed by BCG Securities from 12/2014-4/2017. Prior to that he was with LPL Financial until 12/2014 when he was discharged for concerns regarding communications with a customer. Long also discloses a business affiliation with Keystone Wealth Management and Keystone Capital Partners & Federal Employee Retirement Counselors in Alpharetta, GA. 

If you have questions about an account handled by  Brandon P. Long, contact us for a no charge consultation to learn how you may be able to recover damages from his employer 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

Gary Lee Miller-Former LPL Financial Broker-Discloses Customer Dispute Involving Annuities- Eau Claire, WI

October 2018 – Eau Claire, WI

According to publicly available records Gary Lee Miller   (CRD#2669776) ,  a  former stockbroker who was last employed by LPL Financial  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 January of 2017, a customer of SII Investments and LPL Financial,  filed FINRA case #17-032  alleging that Miller recommended frequent switching of unsuitable variable annuities.    That case was settled for $275,000.

Gary Lee Miller worked for SII Investments from  October of 1998 until October of 2014 and was employed by LPL Financial from October 2014 until May of 2016. Miller also discloses a business affiliation with Mutual Financial Group and Mutual Insurance Group.

If you have questions about an investment account handled by Gary Lee Miller, contact us for a no charge consultation to learn about 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