Feng Luo (CRD #: 5508192), a broker registered with Transamerica Financial Advisors, has a new investor dispute on her BrokerCheck record, accessed on January 8, 2020. On October 23, 2020, clients alleged that Feng Luo made misrepresentations and omitted facts during a sales presentation regarding unsuitable insurance products. The clients further alleged that Luo fraudulently…

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“Front running” and “tail-gaiting” describe a securities law violation in which an insider – perhaps a broker – uses non-public information to their advantage. For instance, a broker might know that a wealthy client is going to buy a million shares of Company A, which means that the price of that company’s shares will increase.…

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Robyn Simons (CRD #: 1538638), an investment advisor registered with Promontory Financial, is involved in a $200,000 investor dispute according to his IAPD record, accessed on December 28, 2020. This is not the only disclosure on his record ­— the details are provided below. On November 10, 2020, a client alleges that Robyn Simons misrepresented…

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Eric Tom (CRD #: 1890823), a broker registered with MML Investors, is facing allegations of unsuitable recommendations, according to his BrokerCheck record, accessed on December 28, 2020. Investors should know about the other settled disclosure on his record — keep reading for more information. On November 9, 2020, a client alleged that Tom recommended investments…

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Tim Gilmore (CRD #: 2479049), a broker registered with Pruco Securities, is involved in a dispute for over $100,000, according to his BrokerCheck record, accessed on December 28, 2020. On November 6, 2020, a client alleged that they never authorized converting an IRA to a Roth IRA. The client is seeking $112,205. The dispute is…

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Michael Venturino (CRD #: 5872439), a broker registered with Spartan Capital Securities, is the subject of an investigation initiated by the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck record, accessed on December 28, 2020. This is his 17th  BrokerCheck disclosure — a relatively high number of disclosures, given that only around 8% of…

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Christopher Phillips (CRD #4761544), a broker and investment adviser registered with RBC Capital Markets, is involved in a customer dispute regarding overconcentration of certain securities, according to his BrokerCheck record, accessed on December 28, 2020. On November 6, 2020, a client alleged that he suffered a net loss of more than 65% of his IRA…

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The Financial Industry Regulatory Authority (FINRA) fined LPL Financial $6.5 million following yet another Acceptance, Waiver, and Consent agreement (AWC) with the firm. AWCs allow advisors to consent to FINRA’s findings without admitting or denying the findings. In their latest AWC, LPL Financial consented to the findings that they failed to supervise and maintain appropriate…

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Brian Megley (CRD #: 2302308), a broker registered with Cetera Advisors, has a pending dispute involving unsuitable investment recommendations, according to his BrokerCheck record, accessed on December 28, 2020. This is the second investor complaint to allege unsuitable investments. On November 6, 2020, a client alleged that Brian Megley recommended unsuitable investments. The client is…

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Joe Franklin (CRD #: 2673133), an investment adviser registered with Innovative Advisory Partners, has a pending dispute with investors who allege that he recommended unsuitable investments, according to his IAPD record, accessed on December 28, 2020. On November 3, 2020, clients alleged that they invested in several risky securities based on Franklin’s recommendations, including a…

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