Daniel Maughan: Broker Spotlight

Daniel MaughanCalifornia-based Financial West Group broker/adviser Daniel Maughan is the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. Maughan (CRD# 2561363).

Daniel Maughan has spent eighteen years in the securities industry and has been registered with Financial West Group in Los Angeles, California since 2010. Previous registrations include Wedbush Securities in Los Angeles, California (2002-2010); Metlife Securities in New York, New York (2001-2002); Metropolitan Life Insurance Company in New York, New York (2001-2002); and Merrill Lynch in New York, New York (1997-2001). He is a registered broker and investment adviser in California.

According to his BrokerCheck report, Daniel Maughan is the subject of three customer complaints and one pending customer complaint, and was discharged from his position at Merrill Lynch.

In September 2015 a customer alleged Maughan, while employed at Financial West Group, breached his fiduciary duty, acted negligently, breached his contract, and misrepresented material facts related to an investment.

In 2009 a customer alleged Daniel Maughan, while employed at Wedbush Morgan Securities, breached his fiduciary duty, converted funds, committed fraud, acted negligently, misrepresented material facts, breached his contract, provided unsuitable advice, failed to follow instructions, and made an unauthorized purchase. The complaint settled in 2010 for $10,000.

In 2002 a customer alleged Mr. Maughan, while employed at Merrill Lynch, engaged in churning, executed unauthorized trades, and made unsuitable investment recommendations. The complaint settled in 2003 for $46,000.

In 2001 a customer alleged Daniel Maughan, while registered with Merrill Lynch, executed unauthorized purchases. The complaint settled for $51,321.

In 2001 Daniel Maughan was discharged from his position at Merrill Lynch following allegations he entered orders in client accounts without prior consent.

If you have suffered losses as a result of investments made with Daniel Maughan, you may be cable to recoup lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your claim, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

This information is based on publicly available documents provided by FINRA on March 21, 2016.