Tag Archives: allstate financial services complaint

Patrick Phillips-Allstate Financial Services Broker-Discloses Regulatory Event and a Customer Dispute-Amarillo, TX

May 2020-Amarillo, TX

According to publicly available records of Patrick H. Phillips, Jr.  (CRD#1021928) ,  a  stockbroker with Allstate Financial Services  discloses  a regulatory event and a 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 November 2003 Phillips was fined $5,000 after violating the Texas Securities Act by rendering services as an investment advisor representative in Texas at a time when he was not registered with the Securities Commissioner, as required by Section 12 of the Texas Securities Act.

In April 2017, an Allstate Financial Services customer filed FINRA case #17-00974 alleging material omissions and misleading statements and for recommending unsuitable securities.    The case settled for $80,000 with a $500 contribution from Phillips personally.

Phillips has been employed with Allstate Financial Services since March 2007 and discloses an affiliation with Lighthouse Wealth Management of Amarillo, TX.

If you have questions about an account with Patrick Phillips  call to speak 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

Allstate Financial Services Broker Discharged/ Sanctioned by Regulators- Griffin, Georgia

January 13, 2016- Griffin, Georgia

Stanley Ball entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while he was registered with Allstate Financial Services,  he failed to amend his Uniform Application for Securities Industry Registration or Transfer (U4) to report:

  • two bankruptcy filings
  • five tax liens
  • two judgments

By such conduct Ball violated FINRA by-laws and rules. In addition Ball made false attestations to his employer on annual compliance questionnaires in which he failed to disclose the bankruptcies, liens and judgments.

AWC No.  2015044683301

Ball was fined $5,000 and suspended for 6 months.

FINRA records indicate that Ball was registered with Allstate Financial Services from 7/2002 -3/2015, when he was discharged by Allstate who made the following allegation on his FINRA record:

‘Failure to adhere to heightened supervision plan by not providing payment plans for federal and state tax liens. “

Ball is not currently registered.

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

Allstate Finanical Stock Broker Sanctioned for Failing to Report IRS Liens-Melrose, Illinois

October 13, 2015

Jose Luis Rodriguez , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he willfully violated FINRA by-laws and FINRA Rules 1122 and 2010 by failing to amend his Form U4 to disclose that he was the subject of multiple tax liens.

According to FINRA, Between March 2009-May 2013, twelve liens (11 by the Internal Revenue Service and 1 by the State of Illinois) were filed against Rodriguez.

AWC No. 2014041419201

Rodriguez was suspended for three months and fined $5,000.

According to FINRA records, Rodriguez   was registered with Allstate Financial Services from 8/2005-9/2015.

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

Allstate Financial Services Broker in Lexington, SC, Barred from Securities Industry

October 6, 2015 – Lexington, SC

Joseph Murry Snyder, III  , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide on the record testimony as requested by FINRA in connection with an investigation into his termination from his member firm and allegations that he misappropriated customer cash insurance premium payments, falsified company records and use his personal credit card to make installment payments on insurance policies of customers.

AWC No. 2014040233501

Snyder  was barred from the securities industry.

According to FINRA records, Snyder  was registered with Allstate Financial Services from 7/2011-2/2014.

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 B. Quimby-Former Allstate Financial Services Broker-Sanctioned by Securities Regulator-Tampa, FL

August18, 2015,

Mark Brian Quimby entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he caused two customers to invest in an investment fund operated by his wife but not offered by his member firm.

According to FINRA Quiby did not get the approval of his member firm nor did he provide written notice to his firm in violation of NASD Rule 3040 and FINRA Rule 2010.

AWC NO. 2014041780601

Quimby was suspended for three months and assessed a deferred fine of $10,000.  According to FINRA records, Quimby was registered with Allstate Financial Services  in Tampa, FL , from 2/2008-6/2014.

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