FINRA

Iorio Altamirano LLP Investigates Stephen A. Kohn & Associates, Ltd. Over GPB Funds

Published on: April 24, 2021 | by Iorio Altamirano

Stephen A. Kohn & Associates, Ltd. (a.k.a DMK Advisor Group, Inc.) is a broker-dealer headquartered in Lakewood, Colorado. The firm was formed in April 1996.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, Stephen A. Kohn & Associates, Ltd. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Stephen A. Kohn & Associates, Ltd., you may have a claim.

Iorio Altamirano LLP Investigates Vestech Securities, Inc. Over GPB Funds

Published on: April 24, 2021 | by Iorio Altamirano

Vestech Securities, Inc. is a full-service brokerage and advisory firm headquartered in St. Louis, Missouri. The firm was formed in March 1996.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, Vestech Securities, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Vestech Securities, Inc., you may have a claim.

Iorio Altamirano LLP Investigates DFPG Investments, Inc. Over GPB Funds

Published on: April 24, 2021 | by Iorio Altamirano

DFPG Investments, Inc. is a broker-dealer headquartered in Salt Lake City, Utah. The firm was formed in 2010.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, DFPG Investments, Inc. likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with DFPG Investments, Inc., you may have a claim.

Iorio Altamirano LLP Investigates David A. Noyes & Company Over GPB Funds

Published on: April 24, 2021 | by Iorio Altamirano

David A. Noyes & Company (a.k.a Sanctuary Securities, Inc.) is a broker-dealer headquartered in Indianapolis, Indiana. The firm was formed in 1978. According to publicly available records filed with the SEC, David A. Noyes & Company likely received sales compensation for selling the GPB funds to retail investors.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors.

If you lost money in GPB funds with David A. Noyes & Company, you may have a claim.

Independent Financial Group, LLC Fined by FINRA Over Supervisory Violations

Published on: April 23, 2021 | by Iorio Altamirano

Iorio Altamirano LLP is investigating claims on behalf of Independent Financial Group, LLC customers after the firm was censured and fined $200,000 by FINRA.

The sanctions involve supervisory failures related to a registered representative’s unsuitable recommendations to customers, including seniors. In addition to the censure and fine, the firm also agreed to implement supervisory systems and written supervisory procedures reasonably designed to, among other things, achieve compliance with suitability requirements for alternative investments. The registered representative is no longer with the firm.

Alternative investments include non-traded real estate investment trusts (REITs) and structured notes.

Former LPL Financial LLC Broker John Scott BARRED by FINRA – Phoenix, Arizona

Published on: April 23, 2021 | by Iorio Altamirano

FINRA has barred former LPL Financial LLC broker John Scott from the securities industry. According to FINRA, the matter originated from an investigation of Mr. Scott’s potential participation in certain private placement offerings.

If you have lost money with John Scott, or LPL Financial LLC, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Iorio Altamirano LLP represents investors in disputes with their financial advisors and brokerage firms, such as LPL Financial LLC.

Former LPL Financial LLC Broker Elias Hakimian, Suspended by FINRA – Costa Mesa, California

Published on: April 21, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Elias Hakimian from the securities industry for three months. Mr. Hakimian consented to the suspension after FINRA alleged that he borrowed $120,000 from a customer without notice to or obtaining written pre-approval from his employing brokerage firm, LPL Financial LLC, in violation of FINRA Rules 3240 and 2010. FINRA also fined Mr. Hakimian $5,000.

LPL Financial LLC allowed Mr. Hakimian to “voluntarily resign” after a customer alleged that he engaged in churning in the customer’s accounts and invested the customer’s funds in speculative ventures contrary to the customer’s objectives and risk tolerance, in addition to taking loans from the customer.

Excessive trading occurs when a financial advisor makes many trades in a customer’s account, not to benefit the customer but to generate commissions for the broker.

Iorio Altamirano LLP Investigates HighTower Securities, LLC Over GPB Funds

Published on: April 20, 2021 | by Iorio Altamirano

HighTower Securities, LLC was formed in June 2001 and is headquartered in Illinois, Chicago. The firm is under common control with HighTower Advisors, LLC, a registered investment advisor (RIA). According to legal filings, HighTower Advisors, LLC facilitated the sale of some of the partnership interests of the GPB funds.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer HighTower Securities, LLC likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with HighTower Securities, LLC, you may have a claim.

Iorio Altamirano LLP Investigates Private Client Services, LLC Over GPB Funds

Published on: April 20, 2021 | by Iorio Altamirano

Private Client Services, LLC is an independently owned, full-service broker-dealer. The firm was formed in February 2001 and is headquartered in Louisville, Kentucky.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Private Client Services, LLC likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Private Client Services, LLC, you may have a claim.

Iorio Altamirano LLP Investigates Innovation Partners, LLC Over GPB Funds

Published on: April 20, 2021 | by Iorio Altamirano

Innovation Partners, LLC is a financial services and consulting firm headquartered in Charlotte, North Carolina. The firm was formed in November 2007.

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer Innovation Partners, LLC likely received sales compensation for selling the GPB funds to retail investors.

If you lost money in GPB funds with Innovation Partners, LLC, you may have a claim.