Tag Archives: WFG Investments problem

Shawn B. Davis-Former Independent Financial Group Broker-Discloses 6 Pending Customer Disputes And A Prior Customer Dispute – Auburn, CA

October 2019 – Auburn, CA

The FINRA records of Shawn Bruce Davis  , a stockbroker who was last employed by  Independent Financial Group disclose 6 pending customer disputes and  2 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 August 2013, a Berthel Fisher & Company Financial Services customer filed FINRA case #13-02524 alleging that investments purchased from 2005 to 2008 were unsuitable and misrepresented by Davis.  The case settled for $52,500.

In August of 2018, a customer of Berthel Fisher & Company Financial Services, WFG Investments, Inc. , and Independent Financial Group,  filed FINRA case #18-02735 alleging that the investments they purchased in 2012 were unsuitable and misrepresented to them by the representative.   The clients also allege the firm failed to conduct adequate due diligence and filed to supervise the representative.   No monetary damages are stated and the case is pending.

In June of 2018, a WFG Investments customer filed FINRA case #18-02173 alleging investments, including REITs, were unsuitable.    The damages sought are $560,000.    The case is pending.

In April of 2018, a Berthel Fisher & Company Financial Services customer filed FINRA case #18-01268 alleging the investments they purchased between 2007 and 2011 were unsuitable and misrepresented to them by Davis.   The clients also allege that the firm failed to supervise Davis and are seeking damages of $500,000.

In March of 2018, a Berthel Fisher & Company Financial Services and Royal Alliance Associates, Inc., customer filed FINRA case #18-01092 alleging the investments, including REITs and limited partnerships purchased between 2005- 2006 are unsuitable and were misrepresented by Davis.   The claimants allege that the firm failed to supervise the actions of Davis and are seeking damages of $1,500,000.

In September of 2016, a Berthel Fisher & Company Financial Services customer filed FINRA case #16-02660 alleging the investments, including REITs and oil and gas securities. purchased 2005- 2010 are unsuitable and were misrepresented by Davis.   Claimants allege that the firm failed to supervise Dais and are seeking damages are $800,000.

In September of 2017 a WFG Securities and Independent Financial Group customer filed FINRA case #17-02219 alleging that they were not fully informed of the risks associated with REIT offerings purchased from 2013 to 2015.   No specific damages set forth in the claim.

Davis  was employed by Independent Financial Group  from February 2014 until May 2017, and with WFG Investments, Inc. from August 2012 until January 2014.   Before that he was with Berthel Fisher & Company Financial Services  and Royal Alliance Associates, Inc. Davis discloses business affiliations with Davis Financial Advisors, Uncommon Capital and Leads from the Vine in Roseville, CA.

If you have problems in an account  handled by Shawn Bruce Davis  call for a no charge consultation to learn more 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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

James Pheney-Former WFG Investments Broker-Discloses Pending Customer Dispute-Castle Rock,CO/Brenham, TX

July 2017 -Castle Rock, CO-Brenham, Texas

According to publicly available records James K. Pheney  (CRD#1272932) ,  a  stockbroker who currently is employed by Mid Atlantic Capital Corp.  disclose a pending 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 December of 2016, a  customer of Pheney’s prior employer,WFG Investments, Inc. ,  filed a complaint seeking damages of $240,000 alleging misrepresentation in connection with the purchase of a municipal bond. That matter is currently pending.

Pheney was employed by  WFG Investments from 1/2005-8/2017. He joined Mid Atlantic Capital Corp. in 8/2017. Pheney discloses a business affiliation with Plum Creek Investment Services with offices in Castle Rock, CO and Brenham, Texas.

If you have questions about an account handled by James Kevin Pheney, 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

James K. Pheney-WFG Investments, Inc. Broker-Discloses Pending Customer Dispute-Castle Rock, CO.

July  2017- Castle Rock, CO

According to publicly available records James K. Pheney  (CRD#1272932) ,  a  stockbroker who currently is employed by WFG (Williams Financial Group) Investments, Inc.  disclose a pending 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 December of 2016, a WFG Investments, Inc.  customer filed a complaint seeking damages of $240,000 alleging misrepresentation in connection with the purchase of a municipal bond. That matter is currently pending.

Pheney has been with  WFG Investments since January of 2005.

If you have questions about an account handled by James Kevin Pheney, 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

James Neal Turner-Former WFG Investments Broker-Discloses Customer Dispute-Plano, TX

June 2017- Plano, Texas

According to publicly available records James N. Turner (CRD#2068968) ,  a  stockbroker who currently is employed by First Command Financial Planning  discloses a pending customer dispute, 2 prior customer disputes and a currently outstanding judgment/lien.

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 FINRA arbitration 16-03688, a customer of WFG Investments and Jefferies LLC seeks damages of $75,000 and alleges misrepresentation within offering documents, failure to conduct due diligence and failure to execute due care in the sale of unsuitable investments.

Turner discloses a tax lien in favor of the Internal Revenue Service in the amount of $58,525, filed at Collin County, TX  Federal Court.

Turner’s prior employment includes Merrill Lynch, IMS Securities and WFG Investments.

If you have questions about an account handled by James Neal Turner , 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

Gary C. Haack-Former FSC Securities Broker-Discloses Settlement of Customer Dispute-San Antonio, TX

June 2017- San Antonio, Texas

According to publicly available records Gary C. Haack  (CRD#2796834) ,  a  stockbroker who currently is employed by Corecap Investments  discloses  2 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 FINRA arbitration 15-0836, a customer of WFG Investments sought damages of $115,000 and alleged unsuitable investments in speculative products in connection with an investment in a private placement offering of medical and research firms. The case was settled for $70,000 in 6/2016.

Gary C. Haack  has been employed by Corecap Investments since 6/2016. His prior employment includes FSC Securities, WFG Investments and NEXT Financial Group.

If you have questions about an account handled by Gary C. Haack  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