Articles Tagged with Sammons Securities Company

The attorneys at Stoltmann Law Offices are investigating Clark Gardner, a former broker at Cetera Advisors. Gardner was recently permanently barred from the industry by the Financial Industry Regulatory Authority (FINRA). Gardner was accused of taking a $243,000 check from a customer and depositing it directly into his personal bank account. The money was supposed to go into an investment opportunity. Gardner then used the funds for his own personal use. FINRA also alleged that he worked as an agent for a real estate investment company without his firm’s knowledge or consent, which is against securities rules and regulations. Gardner allegedly facilitated a customer’s $150,000 real estate property investment through the company, and for this, received $20,000 in commission for his facilitation of the transaction. Gardner entered into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA on September 4, 2014.

According to his online FINRA BrokerCheck report, Gardner was registered with Walnut Street Securities in El Segundo, California from June 1997 until February 2002, Sammons Securities Company in Orem, Utah from February 2002 until December 2013 and Cetera Advisors in Orem from December 2013 until May 2014. He has two customer disputes against him, one of which is currently pending. He is not licensed within the industry and FINRA and the Securities and Exchange Commission (SEC) have both permanently barred him from acting as a broker and investment adviser, or otherwise associating with firms that sell securities or provide investment advice to the public. If you or someone you know invested money with Clark Gardner, you may be able to sue his former firm, Cetera Advisors, in the FINRA arbitration forum on a contingency fee basis. Please call our law offices today at 312-332-4200. Your call with one of our attorneys is free and with no obligation.

Stoltmann Law Offices is investigating Donna Hines, a registered representative with Cetera Advisors in Weston, West Virginia since 2013. Hines is accused of misrepresenting and omitting material facts and acting negligently in connection with the sale of various alternative products, including a SunAmerica variable annuity and non-traded real estate investment trusts (REITs). REITs tend to be risky and illiquid investments, not suitable for all investors. A broker must do her due diligence before making investment recommendations to clients. She must take into account the client’s net worth, age and investment objectives, among other things, so as not to breach fiduciary duty. If she does not, her brokerage firm can be held responsible for money losses for not properly supervising her.

Hines was registered with Edward Jones in St. Louis, Missouri from November 2000 until November 2003, Sammons Securities Company in Ann Arbor, Michigan from November 2003 until November 2005 and Investment Planners in Weston, West Virginia from March 2005 until October 2013. She is currently registered with Cetera Advisors in Weston, West Virginia and has been since October 2013. She has three customer disputes against her, all of which are currently pending. If you invested money with Donna Hines and would like to recover your investment losses, you may be able to by bringing a claim against Cetera Advisors for not supervising Hines properly. We bring claims against brokerage firms in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis to help retail investors recover losses. Please call us today. The call is free.

Stoltmann Law Offices is investigating Eric Wegner, a broker with Cambridge Investment Research. He is accused of making unsuitable investments, misrepresentation, breaching fiduciary duty, and making false statements, many in connection with the sale of private placements like TIC interests. He also allegedly made unsuitable recommendations over the sale of variable annuities. Tenant-in-common (TIC)s are when investors have an undivided interest in real property. Each tenant owns a separate and undivided interest in the same real property and has an equal right to the possession and use of it. TICs can be very risky investments and are not suitable for every investor. A broker must take into account an investor’s net worth, age, investment sophistication and portfolio objective before recommending securities, and, if he does not, and investment losses occur, can be held liable for those losses. In many cases, his current or former brokerage firm can be used in the Financial Industry Regulatory Authority (FINRA) arbitration process because they had a responsibility to regulate and supervise the broker while he was employed there.

Eric Wegner was registered with Allstate Financial Services in Lincoln, Nebraska from January 2000 until October 2000, FFP Securities in Chesterfield, Missouri from October 2000 until December 2002, Sammons Securities Company in Burnsville, Minnesota from December 2002 until December 2008, QA3 Financial Corp in Burnsville from January 2009 until February 2011 and Sigma Financial Corp in Minneapolis, Minnesota from February 2011 until July 2013. He is currently registered with Cambridge Investment Research in Delafield, Wisconsin and has been since July 2013. He has five customer disputes against him, one of which is currently pending.

If you or someone you know invested and lost money in TIC investments or any other investments with Eric Wegner and Cambridge Investment Research, please call our securities law firm in Chicago to speak with an attorney about your options of bringing a claim against the firm. The call is free with no obligation. We take cases on a contingency fee basis only so we only make money when you recover your losses. Please call as soon as possible as time is of the essence with these types of cases. There are statutes of limitations. 312-332-4200.

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