Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on January 19, 2018 indicate that former California-based Independent Financial Group broker/adviser John Bernard has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Bernard (CRD# 2655101).
John Bernard has spent 22 years in the securities industry and was most recently registered with Independent Financial Group in San Luis Obispo, California (2015-2017). Previous registrations include LPL Financial in Shell Beach, California (2005-2015) and Morgan Stanley DW in Purchase, New York (1995-2005). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 16, 1996; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 19, 1995; Series 31 (Futures Managed Funds Examination), which he obtained on November 14, 1995; Series 7 (General Securities Representative Examination), which he obtained on October 17, 1995; and Series 24 (General Securities Principal Examination), which he obtained on December 29, 2005. He is currently not registered with any state or firm.
According to his BrokerCheck report, John Bernard has received two customer complaints and one FINRA sanction.
In December 2017 FINRA sanctioned him following allegations he made discretionary transactions in seven customer accounts without obtaining prior written authorization from the customers or prior acceptance from the firm of the accounts as discretionary. He was issued a fine of $5,000 and a 20-day suspension from acting as a broker.
In 2015 a customer alleged John Bernard, while employed at LPL Financial, executed unauthorized trades and churned investments. The complaint settled in 2016 for more than $11,700.
In 2015 a customer alleged John Bernard, while employed at LPL Financial, churned investments, failed in his supervisory duties, and made unsuitable investment recommendations. The complaint settled for more than $15,900.
In 2015 he was terminated from his position at LPL Financial following allegations he violated firm policy regarding time and price discretion.
If you have lost money investing with John Bernard, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.