Articles Posted in Unsuitable Investment Advice

Dennis J. Murphy (a/k/a Dennis James Murphy) (CRD# 4840274), a previously-registered broker, has been barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) for failing to appear for testimony in connection with a FINRA investigation concerning his employer’s supervision of potentially unsuitable trading. Failing to cooperate with…

At the end of March 2020, Allianz Global Investors (Allianz) liquidated two investment vehicles—Structured Alpha 1000 and 1000 Plus—following substantial losses to the funds, resulting in clients losing millions of dollars. According to news reports, other related Allianz Funds, including Structured Alpha 250, 350, and 500, also suffered heavy losses.…

DID YOUR SAGEPOINT ADVISOR SELL YOU UITs? SagePoint Financial has been ordered by the Financial Industry Regulatory Authority (FINRA) to pay $1.3 million in restitution to customers for alleged failings related to unit investment trusts (UITs). SagePoint was also ordered by FINRA to pay $300,000 for supervisory violations related to…

Jeremy Rosen (Jeremy Seth Rosen CRD# 5513416) is a broker currently registered with Nationwide Planning Associates, Inc. (CRD# 31029) in Easton, Pennsylvania. Jeremy Rosen has multiple customer disputes alleging unsuitable investments. In the securities industry since 2008, he was previously registered with Berthel, Fisher & Company Financial Services, Inc. (CRD#…

Mark Cline (Mark Alan Cline CRD: #3206962) is a currently registered broker currently employed with National Securities Corporation (CRD#: 7569) of Wildwood, FL, employed since 2014. His previous employers include Great Nation Investment Corporation (CRD#:19981), United Equity Securities, LLC (CRD#:47261), and CCF Investments, Inc. (CRD#:136571), all of Fort Lauderdale, FL.…

Robert Perlman (CRD# 1892131) is a currently-registered broker with UBS Financial Services who has 3 customer disputes on his publicly-available FINRA BrokerCheck report, including 1 that seeks $750,000 in damages related to investment in the UBS Yield Enhancement Strategy (YES). Robert Perlman (Robert Benjamin Perlman) has been in the securities…

Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since…

Approximately one year ago a customer lodged a dispute with the Financial Industry Regulatory Authority (FINRA) against broker Jeanpierre Ayala (a/k/a J.P. Ayala) (CRD# 2765730) due to conduct that occurred while Ayala was employed by Laidlaw & Company in Fort Lauderdale, Florida. Ayala is currently registered with Westpark Capital in…

Silver Law Group recently filed FINRA arbitration claims against a broker-dealer for the recommendation and sale of an unsuitable Regulation D (“Reg. D”) private placement. The broker-dealer marketed the investment as having huge upside because the company’s initial public offering (“IPO”) was coming up. However, despite repeated promises to customers,…

Silver Law Group has filed a FINRA arbitration claim on behalf of clients against Centaurus Financial, Inc. (CRD# 30833) and J.P. Turner & Company, LLC (CRD# 43177) regarding the acts of its employees Cindy Chiellini (CRD# 1015592) and Ricky Mantei (CRD# 1098981). The claim is brought on behalf of a…