Category Archives: MLP (master Limited Partnership)

Regan A. Rohl-Wells Fargo Broker-Subject of Numerous Customer Suits-Fargo, N. Dakota

June 2018- Fargo, N. Dakota

The FINRA records of Regan A. Rohl  , a stock broker who is employed by Wells Fargo Advisors Financial Network , disclose  7 pending customer disputes 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.

The  FINRA arbitrations that are currently pending include:

  • FINRA Case 18-562 in which a customer of Wells Fargo alleges that Rohl made unsuitable investments in direct investments and limited partnerships. The customer is seeking damages of $1.2 million.
  • FINRA Case 17-1013 in which a customer of Wells Fargo and his former employer Morgan Stanley alleges that Rohl misrepresented the risks associated with concentrated investments in energy stocks. The customer is seeking damages of $85,000.
  • FINRA Case 17-1914 in which a customer of Wells Fargo alleges that Rohl made unsuitable recommendations to invest in limited partnerships and direct investments and is seeking damages of $150,000.
  • FINRA Case 17-1577-a Wells Fargo customer alleges that between 4/2011 and 12/2016 Rohl made unsuitable recommendations to buy and concentrate their portfolio of four accounts into oil and gas sector master limited partnerships and closed end funds. They also allege that Rohl recommended they utilize a line of credit secured by their Wells Fargo account to refinance existing loands and that they paid exorbitant interest as a result. Damages of $1.5 million are being sought.
  • FINRA Case 17-782 in which a Wells Fargo client alleges that Rohl purchased unsuitable master limited partnership in their accounts between 2011-2015 and that they were moved into a discretionary trading account without authority. Damages of $250,000 are sought.

Regan Rohl   has been employed by Wells Fargo since 3/2011 and has a business affiliation with Rohl Arabians, a company that raises Arabian horses.

Brokers have a duty to make recommendations that are suitable, taking into account the age, health, level of financial sophistication, risk tolerance and investment objectives of the customer.

If you have questions about  an account handled by Regan Rohl, call for a no charge consultation 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

Bradley Freimark-Former ProEquities Broker-Subject of 25 Customer Disputes-Ostego, MN

May 2018- Otsego, MN

According to FINRA records,  Bradley J. Freimark  a stock broker who  is not currently registered and who last was employed in the industry by ProEquities Inc. , discloses 19 prior customer disputes that have been resolved and 6 customer disputes that are currently pending. Most of the customer claims relate to alternative investments such as REITs, equipment leasing investments, oil and gas investments, private placements, annuities and direct investments.

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.

Freimark was employed by ProEquities from 3/2000-8/2015.

Prior settlements for customers of Bradley Freimark total about $2 million and the pending claims seek about $1.5 million. These illiquid alternative investments are often sold with the promise of a steady and dependable stream of income and the opportunity for a ‘liquidation event’ in 5-7 years. Many investors purchase alternative investments with the mistaken belief that they are similar to a bond investment.

If you have questions about losses  an account handled  by Bradley J. Freimark , call for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.

ProEquities Inc. , headquartered in Birmingham, Alabama, has been a FINRA member since 1985. They have over 1200 brokers in over 600 branch offices nationwide. ProEquities’ FINRA records disclose 60 prior regulatory events.

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

Lewis (Buddy) Rogers-Raymond James Broker-Former Client Awarded Over $250K For Unsuitable MLP Investments-Dallas, TX

March 2018-Dallas, Texas

Lewis H. Rogers, a broker who has worked for Raymond James & Associates since 2/2013, discloses on his FINRA records that an all public FINRA arbitration panel in Houston has ordered  Raymond James & Assoc to pay one of Roger’s former clients over $250,000 for losses (including attorney fees and interest) suffered in their accounts, which included an IRA.

The former clients alleged that they received recommendations to invest in inappropriate investments, including master-limited-partnerships, MLPs. The former clients alleged that their accounts were over concentrated in these unsuitable investments and that Raymond James did not disclose its conflict of interest as a major underwriter of at least two of the MLPs. Mosley, et al vs. Raymond James & Assoc. FINRA Case 16-03199. 

FINRA is the Financial Industry Regulatory Authority, the agency that licenses stock brokers and stock brokerage firms. Disputes over the mishandling of a brokerage account are generally resolved in FINRA arbitration, a process that is much more expedient and far less costly that court based litigation.

Stockbrokers have a duty to make recommendations that are suitable for the customer, taking into account the customer’s age, investment objectives and risk tolerance.

If you have suffered losses in your brokerage account and feel that you were misled as to the risks associated with the investments causing the loss, 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

Gil Parks-Former Ameriprise Broker-Facing Numerous Customer Suits-Stephenville, TX

JULY 2018 UPDATE-Stephenville, TX 

According to publicly available records Tom “Gil” Parks, Jr. , (CRD#1558909) ,  a  stockbroker who is not currently registered and who last was employed by Ameriprise Financial Services  discloses 6 pending customer disputes, 22 prior final 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.

The pending customer disputes include:

  • FINRA Arbitration 18-1730 in which a customer of Ameriprise Financial alleges that from 1/2012-7/2017, Parks placed them in unsuitable variable annuities and oil and gas investments. The customer seeks damages of $200,000.
  • FINRA arbitration 17-2542 filed in 9/2017 in which a customer of Ameriprise seeks damages of $101,000 and alleges they were sold unsuitable real estate investment trusts (REITs), master limited partnerships (MLPs) and mutual funds.
  • FINRA arbitration 16-03649 in which an Ameriprise customer alleges damages of $180,000 for unsuitable investments in  oil & gas master limited partnerships
  • Two cases are pending in Texas District Court in Tarrant County. Each case seeks damages in excess of $1 million.

Prior final customer disputes that have been resolved by cash settlements include:

  • FINRA arbitration 17-0026 in which an Ameriprise customer alleged damages of $335,000 for unsuitable investments in mutual funds and oil & gas master limited partnerships. The case was settled in 4/2018 for $210,000.
  • FINRA arbitration 17-0563 in which an Ameriprise customer alleged damages of $113,486 for unsuitable investments, including investments in annuities. the case was settled for $30,000.
  • FINRA arbitration 17-1532-an Ameriprise customer sought damages of $78,000 and alleges unsuitable investments in oil and gas master limited partnerships (MLPs). The case was settled for $45,000.
  • FINRA Case 16-1486- an Ameriprise client sought damages of $400,000 alleging that Parks placed her in various unsuitable investments including non-publicly traded real estate investment trusts (REITs), oil and gas master limited partnerships (MLPs) and in an equity mutual fund using margin borrowing. In April 2017 that case was settled for $180,000.
  • FINRA Case 16-03529 in which an Ameriprise customer alleged damages of $95,000 for unsuitable investments in oil & gas master limited partnerships, and a  RiverSource variable universal life policy. That case was settled for $50,000.
  • FINRA Case 16-01069 in which an Ameriprise customer alleged damages of $244,000 for unsuitable investments in equities, funds and oil & gas master limited partnerships. That case was settled for $175,000.
  • FINRA Case 16-0653 in which an Ameriprise customer alleged damages of $148,000 for unsuitable investments in an annuity, an exchange traded fund (ETF) mutual funds and oil & gas master limited partnerships. That case was settled for $70,000.

Tom “Gil” Parks was employed by Ameriprise Financial Services from 12/1993-4/2016. In 4/2016 Parks was ‘permitted to resign’ from Ameriprise who made the following allegation on his FINRA record: “Registered representative resigned while on heightened supervision for violations of company policy related to suitability, client disclosure and outgoing correspondence.”

If you have losses in an account handled by Tom “Gil”  Parks, Jr. you may be able to recover damages from his former employer through FINRA arbitration. 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

John Carolyn-UBS Financial Broker-Subject of Numerous Customer Arbitrations Involving Oil & Gas Investments-Houston, TX

May 2017-Houston, TX

The FINRA records of John Carolyn,  a  stockbroker who is employed by  UBS Financial Services  disclose 5 pending customer disputes involving oil and gas securities  and one prior 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.

The pending disputes include:

  • FINRA case 17-0513- a UBS customer seeks damages of $70,000 for unsuitable concentration of oil and gas investments.
  • FINRA case 16-2280- a UBS customer seeks damages of $450,000 for unsuitable concentration of oil and gas investments.
  • FINRA case 16-1941- a UBS customer seeks damages of $100,000 for unsuitable concentration of oil and gas investments.
  • FINRA case 16-1731- a UBS customer seeks damages of $750,000 for unsuitable concentration of energy securities.

 

John Carolyn has been employed by UBS Financial Services since 4/2002.

If you have questions about an account  handled by John Carolyn , 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