Tag Archives: texas securities attorney

Kestra Investment Services (formerly NFP), NFP Securities (now Kestra), Stockbroker Malpractice

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

Axiom Capital Management

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

Energy Securities, Limited Partnerships, Misrepresentation, Oil & Gas Investment, Oil and Gas Partnerships, Oil related investments, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

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

AXA Advisors, LPL Financial, Misrepresentation, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Celia Mae Scott-LPL Financial Broker- Discloses Settlement of Customer Dispute-Beaumont, TX

November 2018-Beaumont, TX

According to publicly available records Celia Mae Scott , (CRD# 2870484) ,  a  stockbroker who was previously registered with AXA Advisors,  disclose the settlement of 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  1/2018 a customer of AXA Advisors,  was paid $60,000 to resolve allegations that  Scott  misrepresented an annuity that he  sold to the customer.

Scott was employed by AXA Advisors from December 2007 until January of 2016.   She has been employed by LPL Financial Services since 12/2015. Scott discloses  business affiliations with Good LIfe Advisors and Scott Wealth Management, both in Beaumont, TX.

If you have losses in an account in an account handled by Celia Mae Scott, 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

Churning, HilltopSecurities (formerly Southwest Securities), LPL Financial, Southwest Securities (now Hilltop Securities), Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

Bradley Scott-LPL Financial Broker- Discloses $1.4 Million Customer Settlement- Mansfield, TX

November 2018-Mansfield, TX

According to publicly available records Bradley Kyle Scott , (CRD# 4381014) ,  a  stockbroker who currently employed by LPL Financial who was previously registered with Southwest Securities, Inc., (now Hilltop Securities)   disclose the settlement of a customer dispute for $1.4 million.

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 August 2016, a customer of  Southwest Securities, Inc., who filed FINRA Case 15-2556 alleging  unauthorized discretion and trading, unsuitable investments, poor performance and misrepresentation, was paid $1.4 million to settle the case. Scott contributed $250,000 personally to the settlement.

Scott was employed by Southwest Securities, Inc. from April 2009 until September 2015.   He has been employed by LPL Financial Services since 8/2015. Scott discloses a business affiliation with Rushing Scott Wealth Management in Mansfield, TX.

If you have losses in an account in an account handled by Bradley Kyle Scott, 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