A National Securities Arbitration & Investment Fraud Law Firm
Minnesota-based broker-dealer Principal Securities has been sued by a local nonprofit over allegations of churning in variable annuities by one of its former registered representatives. The company disclosed this information in its recently filed annual focus report with the SEC. Principal Securities is also the subject of a separate FINRA arbitration claim based on the actions of the same representative. Continue reading ›
Adam Feierstein (Adam S Feierstein, CRD# 6033082) is a barred broker who was last registered with Proequities Inc and Woodbury Financial Services, Inc. in Redondo Beach, California. He had been in the industry since 2011. Woodbury has been the subject of recent arbitration claims by investors who were sold GPB Capital Holdings investments. Continue reading ›
Jaime Westenbarger (Jaime Michael Westenbarger CRD# 4625703) is a currently barred broker who was last registered with Securities America, Inc. (CRD# 10205) in Grand Rapids, Michigan.
Before Securities America, Westenbarger was registered with First Allied Securities, Inc. (CRD# 32444), American Portfolios Financial Services, Inc. (CRD# 18487), Invest Financial Corporation (CRD# 12984), Sigma Financial Corporation (CRD# 14303), and OneAmerica Securities, Inc. (CRD# 4173). Continue reading ›
Bobby Coburn (CRD# 1464789) is a barred broker who formerly worked for Securities America, Inc. (CRD# 10205) in Fort Meade, FL. He previously worked for Brecek & Young Advisors (CRD# 40395), Legend Equities Corporation (CRD# 30999), Nationwide Securities (CRD# 11173), and others.
Silver Law Group represents investors in arbitration claims against Securities America, which is a subsidiary of Ladenburg Thalmann. Continue reading ›
Alberto Sanchez (CRD#: 4577983) is a now-bared broker formerly with SagePoint Financial (CRD#: 133763), MML Investors Services (CRD#: 10409), and Principal Securities (CRD#: 1137), all at Fort Lauderdale branch locations. From 2004-2013, Sanchez worked for Metlife Securities (CRD#: 14251) at their Plantation branch.
Silver Law Group represents investors in arbitration claims against SagePoint Financial. Our investment fraud law firm is in the Fort Lauderdale area and we can meet with you in person to answer any questions. Continue reading ›
Scott Silver, managing partner of Silver Law Group, delivered a presentation on variable annuity fraud at the 28th PIABA annual meeting in Austin, Texas.
Variable deferred annuities are a hybrid investment that contains features of a security and insurance. According to FINRA, “Due to the complexity and confusion surrounding them, which can lead to questionable sales practices, variable annuities are a leading source of investor complaints to FINRA.” Continue reading ›
A new report from FINRA finds that some brokers and brokerage firms are not doing due diligence for their customers when it comes to illiquid securities such as variable annuities, REITs, and private placements.
This new report finds that some firms rely heavily on these types of securities, over-concentrating clients in non-traded investments, including sector-specific investments and complex structured notes. Continue reading ›
Silver Law Group is investigating claims against brokers and financial advisors who committed securities misconduct in The Villages, Florida and the surrounding area.
The Villages is located in Sumter County, Florida. According to FOX Business, The Villages is the fastest-growing city in America. The city, one of the fastest-growing retirement communities, also shares the same name as The Villages retirement community. It’s a Manhattan-sized city “with more golf carts than New York has taxis,” according to a Bloomberg report. Continue reading ›
Phillip Andrew Johnson (CRD #501352) is a former registered broker and investment advisor whose last employer was D.H. Hill Securities, LLLP (CRD #41528) of Kingwood, TX. His previous employers include SunTrust Investment Services, Inc. (CRD #17499) of Nashville, TN, AXA Advisors, LLC (CRD #6627) and The Equitable Life Assurance Society Of The United States (CRD #4039), both of New York, New York. He has been in the industry since 1976.
Johnson is the subject of seven disclosures on his record, four of which are regulatory actions. Five of the disclosures were filed from 04/24/2015 through 06/20/2018. The first disclosure was employment separation.
Two of the disclosures in 2018 are regulatory actions from FINRA, related to the same action.
The SEC recently published some guidance on variable annuities, an investment contract between an investor and an insurance company.
What It IsA variable annuity is an investment account purchased from an insurance company that includes different types of insurance features. It can grow on a tax-deferred basis, and you can purchase one with a single payment or with regular “installment-plan” payments.
Securities Arbitration Lawyers Blog