Articles Tagged with Next Financial Group

AdobeStock_50775754-2-300x200Former Next Financial Group broker in Frisco, Texas, Tye C. Williams, was barred from the industry by the Financial Industry Regulatory Authority. Williams was also suspended by the Certified Financial Planner Board of Standards. Allegedly, from 2004 until 2014, Williams converted over $1 million from a customer’s account, made unsuitable investment recommendations, engaged in unauthorized transactions and mismanaged assets. All of these things are against securities laws and FINRA regulations. The CFP Board issues an interim suspension without a hearing when there is evidence of a conviction or professional discipline. Williams’ right to use the CFP certification mark is suspended pending an investigation and possible further disciplinary proceedings by the CFP Board. The customer complaint alleges that during the period from 2004 until 2015, Williams’ “mismanaged finances by exceeding the scope of his authority and unsuitable investments in ventures like ‘Smashburger.’”
Tye Calvin Williams was registered with Advantage Capital Corp in Atlanta, Georgia from April 1986 until January 1993, Washington Square Securities in Des Moines, Iowa from January 1993 until December 1997, Mutual Service Corp in Houston, Texas from August 1996 until June 2006, First Heartland Capital in Houston from June 2006 until November 2008 and Next Financial Group in Frisco, Texas from November 2008 until August 2016. He has two customer disputes against him, both of which are currently pending. He has been permanently barred from the industry.
If you were a victim of Tye Williams, please call our securities law firm today at 312-332-4200 to find out how you may be able to bring a claim against Next Financial Group for investment losses. The firm may be liable for them. The call is free with no obligation, so please do not delay. Attorneys are standing by.

AdobeStock_762441-1-300x225Stoltmann Law Offices continues to investigate Dion Padilla, who was subject to a regulatory action brought against him by the Financial Industry Regulatory Authority (FINRA). The action alleged that Padilla effected an unauthorized purchase of a variable annuity for a customer and misrepresented that the investment was not a variable annuity. The customer had told Padilla that he did not want his funds invested in a variable annuity due to the high fees associated with them, and because the client wanted liquidity. FINRA also found that Padilla caused the customer to invest an additional $558,889 into the variable annuity by falsely claiming that the investment purchased was not a variable annuity. These statements were false and misleading. Variable annuities are complex financial and insurance products, and a broker such as Mr. Padilla must take into account a client’s age, net worth, investment objectives and investment sophistication before recommending or selling a security such as a variable annuity. If he does not, his brokerage firm may be held liable for losses because it has a duty to reasonably supervise its employees.
According to his online FINRA BrokerCheck report, Padilla was registered with Merrill Lynch in New York, New York from August 2001 until March 2002, Valic Financial Advisors in Houston, Texas from August 2002 until March 2003, UBS Financial Services in Weehawken, New Jersey from December 2002 until August 2003, Securities America in Lavista, Nebraska from October 2003 until March 2006 and Next Financial Group in San Antonio, Texas from February 2006 until February 2017. He has four customer disputes against him, one of which is currently pending. He is currently not registered and he has been suspended from the industry. Please call today to speak to an attorney about your losses with Mr. Padilla. We may be able to sue Next Financial on a contingency fee basis.

AdobeStock_33766885-1-300x200According to a recent Financial Industry Regulatory Authority (FINRA) Disciplinary Proceeding, Dion Padilla was accused of effecting an unauthorized purchase of a variable annuity for a firm customer and, in connection with the variable annuity purchase, misrepresented that the investment was not a variable annuity. This is against securities laws. According to the Proceeding, in January of 2012, Padilla sent an email to a customer stating that he would not invest in variable annuities for the customer. He then purchased a variable annuity for the customer. Variable annuities tend to be high-risk, illiquid investments that are not suitable for every customer. A broker must take into account many factors when recommending or selling a security. Factors such as age, net worth, investment objectives and risk tolerance must be considered. If they are not, the broker’s firm can be held liable for investment losses. Please call us today at 312-332-4200 to speak to an attorney about how you can sue NEXT Financial Group in the FINRA arbitration forum on a contingency fee basis to recover your losses.

Dion Padilla was registered with Merrill Lynch in New York, New York from August 2001 until March 2002, Valic Financial Advisors in Houston, Texas from August 2002 until March 2003, UBS in Weehawken, New Jersey from December 2002 until August 2003 and Securities America in Lavista, Nebraska from October 2003 until March 2006. He is currently registered with NEXT Financial Group in San Antonio, Texas and has been since February 2006. He has two customer disputes against him, one of which is currently pending.

Stoltmann Law Offices continues to investigate Tye C. Williams, a former broker with Next Financial Group in Frisco, Texas. Williams consented to a sanction with the Financial Industry Regulatory Authority (FINRA) and entered into a Letter of Acceptance, Waiver and Consent (AWC). Williams was accused of converting more than $1,000,000 from customer’s accounts, made unsuitable investment recommendations and engaged in unauthorized transactions and mismanaged assets. He also failed to produce documents and information after FINRA repeatedly requested him to do so regarding a customer complaint. These are all against securities rules and regulations.

According to his online FINRA BrokerCheck report, Williams was registered with Advantage Capital Corp in Atlanta, Georgia, from April 1986 until January 1993, Washington Square Securities in Des Moines, Iowa from January 1993 until December 1997, Mutual Service Corp in Houston, Texas from August 1996 until June 2006, First Heartland Capital in Houston from June 2006 until November 2008 and Next Financial Group in Frisco, Texas from November 2008 until August 2016. He has two customer disputes against him which are currently pending and has been permanently barred from the industry.

Please call our Chicago-based securities law firm today at 312-332-4200 if you suffered losses with Tye C. Williams. His former firm, Next Financial, may be responsible for losses and can be sued in the FINRA arbitration forum on a contingency fee basis. The call is free with no obligation.

Did you lose money with Tye Calvin Williams? If so, the attorneys at Stoltmann Law Offices are interested in speaking with you about your losses. We are securities attorneys who take cases on a contingency fee basis in order for investors to recover their losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum. Mr. Williams was accused of converting more than $1,000,000 from customer accounts, making unsuitable investment recommendations and engaging in unauthorized transactions and mismanaged assets, among other things. One customer of Mr. Williams; alleged that from 2004 until 2015, he “mismanaged his finances by exceeding the scope of his authority and unsuitable investments in ventures like ‘Smashburger.’”

According to his online FINRA BrokerCheck report, Mr. Williams was registered with Advantage Capital Corp in Atlanta, Georgia from April 1986 until January 1993, Washington Square Securities in Des Moines, Iowa from January 1993 until December 1997, Mutual Service Corp in Houston, Texas from August 1996 until June 2006, First Heartland Capital in Houston from June 2006 until November 2008 and Next Financial Group in Frisco, Texas from November 2008 until August 2016. He has one pending customer dispute against him, is not licensed within the industry and has been permanently barred from the industry.

Eduardo Diaz, a former registered broker with Next Financial Group in Ocean Springs, Mississippi, was barred from the industry by the Securities and Exchange Commission (SEC). Diaz allegedly defrauded investors, telling them that he would invest money on their behalf, but instead, used it for personal expenses. Diaz pleaded guilty to one count of mail fraud in March 2016 related to these allegations. Diaz was sentenced to 70 months in prison, and ordered to pay restitution of $641,000 and a $15,000 fine. If you or someone you know suffered investment losses at the hands of Eduardo Diaz, please call our Chicago-based securities law office to speak to an attorney about how we may be able to help you bring a claim against his former firm, Next Financial Group. The firm may be liable for investment losses. 312-332-4200.

According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Diaz was registered with American Express Financial Advisors in Minneapolis, Minnesota from February 1987 until July 1993, Sunamerica Securities in Phoenix, Arizona from June 1993 until October 2005, AIG Financial Advisors in Biloxi, Mississippi from October 2005 until December 2008, Next Financial Group in Biloxi from December 2008 until November 2012 and Kovack Securities in Ft. Lauderdale, Florida from December 2012 until January 2013. He has two customer disputes against him and one criminal disposition. He is not licensed within the industry and both FINRA and the SEC have permanently barred him from the industry.

Stoltmann Law Offices is investigating Jerry McCutchen, a former financial adviser at Berthel Fisher & Company in Mobile, Alabama. The Financial Industry Regulatory Authority (FINRA) was investigating him because of allegations that he made unsuitable investment recommendations to his customers to invest in alternative investments, including private placements, limited partnerships and real estate investments. These investments can be especially risky for many clients, as they tend to be illiquid. A broker must base his investment recommendation on many factors such as a client’s net worth, age, investment objectives and investment savvy. If he does not, his brokerage firm can be held liable for investment losses because of not being able to reasonably supervise him while he was employed there. The call to our Chicago-based securities law offices is free if you believe you have a claim against Jerry McCutchen and would like to sue his former firm, Berthel Fisher, in the FINRA arbitration forum on a contingency fee basis to recover your financial losses.

McCutchen was registered with Bay City Securities, First Funds Inc., Central Brokerage Services, MML Investors Services, Walnut Street Securities, ProEquities, Commonwealth Equity Services, FSC Securities Corp, Next Financial Group, and Berthel, Fisher & Company in Mobile, Alabama from January 2007 until December 2014. He has 25 customer disputes against him, eight of which are currently pending. He is not licensed and FINRA has permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

Stoltmann Law Offices is interested in speaking to investors who may have invested money with Darrell Smith, formerly of Multi-Financial Securities Corporation. He was accused of selling fraudulent securities, forgery, conversion of funds and for violating Iowa’s Uniform Securities Act. Smith was registered with Mony Securities Corp in New York, New York from July 1987 until October 1990, Travelers Equities Sales in El Segundo, California from July 1992 until August 1994, Advantage Capital Corp in Atlanta, Georgia from August 1994 until December 1999, Next Financial Group in Houston, Texas from January 2000 until February 2001 and Multi-Financial Securities Corp in Mason City, Iowa from February 2001 until March 2012. He has 12 customer disputes against him. He is not licensed within the industry and the Financial Industry Regulatory Authority (FINRA) permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public. Please call our Chicago-based law firm today to speak to an attorney about your options of suing Smith’s former firm, Multi-Financial Securities Corp in the FINRA arbitration process. We help investors recover their financial losses on a contingency fee basis.

Stoltmann Law Offices is investigating Tye Williams of Next Financial Group in Frisco, Texas. Williams allegedly mismanaged client finances by exceeding the scope of his authority and recommended unsuitable investments like Smashburger from 2004 until 2015. Damages are alleged to be in excess of $1,000,000. According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Williams was registered with Advantage Capital Corp in Atlanta, Georgia from April 1986 until January 1993, Washington Square Securities in Des Moines, Iowa from January 1993 until December 1997, Mutual Service Corporation in Houston, Texas from August 1996 until June 2006 and First Heartland Capital Inc. in Houston from June 2006 until November 2008. He is currently registered with Next Financial Group in Frisco, Texas and has been since November 2008. He has one customer dispute against him, which is currently pending.

Stoltmann Law Offices is investigating Gerald Fasanella, a broker with Cetera Advisors in Melbourne, Florida. Fasanella has been accused of breaching contract, breaching fiduciary duty, omitting material facts, recommending unsuitable investments in a variable annuity and real estate investment trust (REIT) and mutual fund and executing unsuitable options trades, and committing fraud, among other things. These are all against securities rules and regulations.

Fasanella was registered with Merill Lynch from March 1978 until September 1978, Merrill Lynch in New York from September 1978 until February 1990, Anchor Management Group in Melbourne, Florida from February 1993 until May 1996, SunAmerica Securities in Phoenix, Arizona from May 1996 until October 2000, AIG Financial Advisors in Melbourne from October 2005 until August 2006, Mutual Service Corporation in Melbourne from August 2006 until September 2009, LPL Financial in Melbourne from September 2009 until September 2009 and Next Financial Group in Melbourne from September 2009 until January 2014. He is currently registered with Cetera Advisors in Melbourne and has been since January 2014. He has six customer disputes against him, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck report.

If you invested money with Gerald Fasanella, please call our securities law firm at 312-332-4200 to speak to an attorney. The call is free with no obligation. We take cases on a contingency fee basis and we may be able to help you bring a claim against his firm, Cetera Advisors because they may be liable for your investment losses.

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