Tag Archives: finra arbitration attorney

Frank Richardson-Investacorp & Post Oak Capital Group-Subject of $500K Customer Suit Over REITs-Houston, Texas

December 2018-Houston, TX

According to publicly available records   William Franklin (“Frank”) Richardson, Jr.  , a  stockbroker who is currently registered with Investacorp Inc. disclose a  currently pending customer dispute involving investments in real estate investment trusts (REITs) and limited partnerships.

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 11/2018 a customer of Investacorp filed FINRA arbitration 18-03731 alleging that recommendations to purchase direct investments, limited partnerships and non-publicly traded real estate investment trusts (REITs) were unsuitable. The customer is seeking damages of $500,000.

Frank Richardson has been registered with Investacorp since 1/2012. His previous employment includes Geneos Wealth Management and NEXT Financial Group. Richardson discloses a business affiliation with Post Oak Capital Group in Houston, TX. 

In a prior customer dispute a customer of NEXT Financial alleged that Richardson was negligent in calculating required minimum distribution (RMD) which resulted in resetting of an annuity amount. That case was settled for $34,920. 

If you have losses in an account in an account handled by Frank Richardson , contact us 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

Jon Pariser-Former Independent Financial Group Broker-Subject of $2.7M Customer Suits Over Note Sales-Pacific Grove, CA

December 2018-Pacific Grove, CA

According to publicly available records    Jon R. Pariser , a  former stockbroker who was last registered with Independent Financial Group , and before that SWS Financial Services,  disclose a recent regulatory event barring him from the securities industry, 3 currently pending and 3 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 10/2018 FINRA permanently barred Pariser from the securities industry to resolve allegations that he failed to cooperate with a FINRA investigation into his referral of customers to an individual who was not registered to sell securities and who may have recommended or sold unsuitable securities to them.

In the three currently pending FINRA arbitrations , customers of Independent Financial Group allege that Pariser recommended that they purchase promissory notes from individuals not affiliated with Independent Financial Group. They seek combined damages of more than $2.7 million. In 6/2014 Pariser was discharged by SWS Financial Services who alleged that he had utilized unauthorized discretion in customer accounts.

If you have losses in an account in an account handled by Jon Pariser , contact us 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

Kestra To Be Put Up For Sale-Austin, Texas

December 2018- Austin, Texas

The Investment News reports that broker dealer Kestra is being put up for sale. Goldman Sachs has been hired as its investment banker to head up the sales effort.

Formerly known as NFP Advisors, after its sale to Stone Point Capital in 2016, the name of the broker dealer was changed to Kestra.

According to their website, Austin-based Kestra ranked as the 9th largest independent broker-dealer based on gross revenue, reported to be $475 million at the end of 2017 with nearly 1,900 registered representatives and advisers. Kestra reported nearly $76 billion in assets under advisement.

Kestra’s FINRA record disclose 11 prior regulatory events, including a $475,000 fine by FINRA in 2016 for supervisory failures related to the sale of variable annuities.

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

Jennifer Ling-Former Axiom Capital Management Broker-Subject of Customer Suits Over Aequitas Note Investments-Austin, TX

December 2018-Austin, TX 

According to publicly available records    Jennifer Ling , a  stockbroker who is not currently registered and who was last registered with Axiom Capital Management, and before that GPS Capital Management,  disclose 2 prior and 2 pending customer disputes related to the sale of promissory notes issued by Aequitas Commercial Finance.

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 2017, in two separate disputes brought by customers of GPS Capital Management, cash settlements of $100,000 and $134,250 were paid to the customers to resolve allegations that Ling breached her fiduciary duty and misrepresented the investment. There are presently two more similar cases pending by former customers of GPS Capital Management seeking combined losses of $200,000 and alleging that Aequitas notes were misrepresented.

Ling discloses business affiliations with Ascendant Capital in Austin, TX. 

If you have losses in an account in an account handled by Jennifer Ling , contact us 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

All American Oil & Gas Inc. Losses? How to Recover Damages

November 2018, San Antonio, TX

All American Oil & Gas Inc. and its subsidiaries, Kern River Holdings Inc., and Western Power & Steam Inc.  filed for Chapter 11 Bankruptcy on November 12, 2018. According to the company press release, the bankruptcy filing was “due to an ongoing dispute with its secured lenders”

All American Oil & Gas Inc. , through its subsidiary Kern River Holdings Inc. is the largest private oil and gas producer in the Kern River Oil Field, located in the San Joaquin Valley of California. 

Investors in limited partnership units, high yield (junk) bonds, notes and stock issued by All American Oil & Gas who have suffered losses may be able to recover damages from the brokerage firm or financial advisor who made the recommendation. 

If you have suffered losses, contact us 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