Articles Tagged with Woodbury Financial Services

Stoltmann Law Offices is investigating Dennis Ray Roberts, who entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Roberts was a registered representative with Woodbury Financial Services. He is accused of borrowing money from a firm customer without Woodbury’s approval. In February 2014, Roberts borrowed $600.00 from an elderly customer. Roberts also signed certificates of compliance stating that he was aware of Woodbury’s prohibition on customer loans and that he would abide by the rules. For this, he was suspended from association with any FINRA member firm in all capacities for two months.

Roberts was registered with Woodbury Financial Services in Daytona Beach, Florida, from November 2002 until October 2014. He is not currently licensed in the industry or registered with any member firm. If you lost money with Dennis Ray Roberts or Woodbury Financial Services, Woodbury can be held liable for your investment losses. They had a duty to reasonably supervise Roberts while he was employed with them. Please call our Chicago-based securities law office at 312-332-4200 to speak to an attorney about your options of suing Woodbury Financial Services.

The Massachusetts regulator William Galvin, charged Securities America, a brokerage firm, on Wednesday for failing to supervise a broker who, he claims “exploited the dangers of Alzheimer’s disease in order to gain access to senior clients.” The broker, Barry Armstrong, hosts an AM radio show, on which he asks elderly listeners to call him for medical support, and, when they do, he attempts to give them financial advice. It is an example of a classic “bait and switch,” or falsely advertising one service to obtain contact information, then switching it out for another. The complaint stated: “Securities America’s failure to raise a single question about the content of the Alzheimer’s ads and the attendant mailing materials represents an utter failure that goes to the very purpose of a compliance function. Securities America failed to prevent or even flag glaringly unethical conduct.”

Mr. Armstrong was registered with New York Life Securities from November 1984 until April 1986, 1717 Capital Management Company in Newark, Delaware from September 1986 until December 2003, and Woodbury Financial Services in Needham, Massachusetts from February 2004 until January 2007. He is currently registered with Securities America in Needham and has been since January 2007. He has four customer disputes against him. If you would like to sue Barry Armstrong, please call our securities law firm at 312-332-4200 to speak to an attorney. His firm, Securities America, may be liable for not properly supervising him. The call is free. 312-332-4200.

Stoltmann Law Offices is investigating Bruce R. Geiger, currently registered with Woodbury Financial Services in Visalia, California since 2010. Before Woodbury, Geiger was associated with Thrivent Investment Management Inc. from June 1987 until December 2010. While at Thrivent Management, Geiger is accused of using an Annuity/Settlement Option Withdrawal Service Request form to facilitate customer requests for surrenders, partial withdrawals, full withdrawals and transfers of funds in connection with various annuity contracts or life insurance settlement options, and forging a client signature on those documents. He is also accused of adding dates to customer signature pages from forms that previously existed, and forging dates. This is strictly prohibited by his firm, even with customer acknowledgement and permission. Geiger is accused of allegedly falsifying 115 documents. For this, he was fined $5,000 and suspended for three and a half months by the Financial Industry Regulatory Authority (FINRA).

For these actions, Bruce R. Geiger’s former firm, Thrivent Investment Management, can be sued. Please contact our securities law office at 312-332-4200 to speak to an attorney. We can help you go over your options for suing Thrivent Investment Management in the FINRA arbitration forum for failing to reasonably supervise him while he was employed there.

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