Articles Tagged with Baird Co

Have you lost money with either Daniel Dettlaff or Christopher Wacker of Park Avenue Securities in Brookfield, Wisconsin? If so, the attorneys at Stoltmann Law Offices are interested in speaking with you about your options of recovering your investment losses. We are securities attorneys who sue firms such as Park Avenue Securities in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis to recover money for investors. Please call us today for a free consultation. We may be able to bring a claim against the firm on your behalf.

FINRA alleged that Wacker lied about speaking to a client who wanted to sell securities. He did not, in fact, speak to the client, he only spoke to an unlicensed administrative assistant regarding the fabricated orders. This same assistant was alleged to have stolen $255,000 from two Park Avenue Securities customers by making unauthorized transfers from their accounts. These customers were serviced by Daniel Dettlaff. The misconduct occurred between 2010 and 2013. Wacker agreed to settle the allegations by paying a $5,000 fine and taking a two-month suspension.

According to his online BrokerCheck report, Dettlaff was registered with Northwestern Mutual Investment Services in Milwaukee, Wisconsin from October 1990 until January 1994, Robert W. Baird & Co. in Milwaukee from July 1992 until January 1994 and Guardian Investor Services in New York, New York from January 1994 until May 1999. He is currently registered with Park Avenue Securities in Brookfield, Wisconsin and has been since May 1999. He has one investigation against him.

According to a recent Letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA), Thomas A. Vigil was accused of impersonating a customer on a call to an insurance company in order to obtain an annuity surrender form, falsifying the same customer’s rollover request form, and forging a second customer’s signature on a change of broker-dealer form. This is against securities rules and regulations. In October 2012, Vigil allegedly called another insurance company and falsely identified himself as a customer to obtain an annuity surrender form. In January 2014, Vigil falsified a rollover form for a customer by whiting out the date on an earlier, validly signed form and writing in the current date. This is also against securities rules and regulations. For this he was fined $7,500 and suspended from the industry for six months.

According to his FINRA online BrokerCheck report, Vigil was registered with Robert W. Baird & Co., Northwestern Mutual Investment Services, Fidelity Investments Institutional Services Co., Metropolitan Life Insurance Co., MetLife Securities in Westboro, Massachusetts from December 2002 until January 2014, Signator Investors in Warwick, Rhode Island from December 2013 until July 2014 and Investors Capital Corp in Saunderstown, Rhode Island from September 2014 until October 2014. He is currently registered with Infinity Financial Services in Saunderstown and has been since October 2014. He has three customer disputes against him.

Robert W. Baird & Co. was ordered to pay $2.1 million in restitution to 1,400 customers for overcharges related to mutual fund fees, according to a settlement disclosed yesterday with the Financial Industry Regulatory Authority (FINRA). Baird discovered the overcharges made to customers in May 2015 and reported to FINRA that it believed the customers had not received sales charge waivers for which they were eligible. The customers in question were retirement accounts and charitable groups. The firm failed to “reasonably supervise” the application of sales charge waivers for mutual fund sales to certain customers, relying on its financial advisors to determine whether the sales charges applied. The problem started in July 2009.

Stoltmann Law Offices is investigating Frederick Eugene Monroe Jr., who has been charged with first-degree money laundering, three counts of second-degree grand larceny, and scheming to defraud. Allegedly, Monroe convinced his investment advisory clients at Voya Financial, to send him personal checks that he said would be placed in bonds for retirement. Instead, he used the money to pay back earlier investors and for personal expenses such as airline tickets and mortgage payments. Monroe carried out his scheme from January 2008 until April 27, 2015 while he was a registered representative with Voya Financial Advisors Inc. Monroe admitted that he did not reinvest client money like he said he did and that he proposed retirement offers to more than ten out of 100 clients. Monroe was accused of running a ponzi scheme in which he allegedly stole $1 million from victims.

Monroe was registered with Robert W. Baird & Co. in Milwaukee, Wisconsin from July 1994 until January 2002, Northwestern Mutual Investment Services in Latham, New York from July 1994 until February 2006 and Voya Financial Services in Albany, New York from February 2006 until June 2015. He has three customer disputes against him, all of which are currently pending, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck record. He is not licensed in the industry. If you experienced financial losses on behalf of Frederick Eugene Monroe Jr., please call our securities law firm at 312-332-4200 for a free consultation with an attorney.

Investors who have lost money with Milwaukee based brokerage firm Robert W. Baird & Co. can sue the firm in the FINRA arbitration forum for unsuitable investment recommendations, fraud, selling away, theft or misappropriation, breach of fiduciary duty, churning and other related actions. Recently, the Milwaukee Journal Sentinel profiled a $17.8 million FINRA arbitration award against the firm for various activity engaged in by the firm (see http://www.jsonline.com/business/regulator-orders-baird-to-pay-178-million-after-arbitration-hearing-b99522152z1-308185251.html for news coverage on the case along with comments about the decision from Andrew Stoltmann). Customers of Baird who sue the firm are required to do so through binding arbitration through FINRA. This process usually takes 12 months and investors can recover no compensation all the way up to losses, attorney fees, interest, costs and punitive damages. Discovery in arbitration claims is far more limited than what you would see in traditional court house litigation since depositions and interrogatories are usually not allowed in FIRNA arbitration claims. If you wish to sue Robert Baird, please call our law firm at 312.332.4200. We concentrate our practice in FINRA arbitration claims and have sued Baird on a contingency fee basis in excess of a dozen times.

Stoltmann Law Offices is investigating Voya Finanancial Advisors (formerly ING Bank) and one of its former financial planner’s, Frederick E. Monroe Jr. Monroe was also associated with Capital Financial Planning, was arrested by the New York State Attorney General’s Office recently. He is charged with stealing over $1 million from investors. It is alleged that Monroe’s scheme lasted from 2008 until 2015 and that he fraudulently solicited his clients only to take their money and use it for personal expenses, after promising the clients he would invest their money in bonds. He also allegedly created false financial statements, which he then sent to his victims.

Frederick Monroe Jr. was registered with Robert W. Baird & Co. Inc. in Milwaukee, Wisconsin from July 1994 until January 2002, Northwestern Mutual Investment in Latham, New York from July 1994 until February 2006, and Voya Financial Advisors in Albany, New York from February 2006 until June 2015. He is not currently licensed to act as a broker or as an investment adviser, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck.

Monroe’s former firm, Voya Financial Advisors, may be responsible and liable for any investment losses you may have suffered at the hands of Frederick E. Monroe Jr. They had a duty to reasonably supervise him while he was employed with their firm, and because they did not, can be held accountable in the FINRA arbitration process. Please call our law offices in Chicago to speak to an attorney at 312-332-4200 if you believe you have a possible case against Monroe. The call is free with no obligation.

CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information