Michael Ralby Lawsuit | Broker Misconduct

Who Is Michael Ralby? | Michael Ralby Lawsuit Michael Ralby, an ex-Morgan Stanley broker, was recently terminated for allegedly accepting loans from clients. Since then, he has now been barred by the Financial Industry Regulatory Authority (FINRA) after he declined to take part in its investigation. Broker Michael Ralby, who worked for Morgan Stanley in… Read more »

Ralph Willard Savoie Lawsuit | Broker Misconduct

Who Is Ralph Willard Savoie? | Ralph Willard Savoie Lawsuit Ralph Willard Savoie defrauded investors for more than three years beginning in 2013, telling his clients that he would invest their money in securities and insurance, and to develop industrial cooling towers, according to court documents. Savoie guaranteed high rates of return to his clients,… Read more »

Michael Giokas Lawsuits | Giokas Wealth Advisors Lawsuits

Who Is Michael Giokas? | Giokas Wealth Advisors In October 2017, Michael Giokas, founder of Giokas Wealth Advisors in Williamsville, NY, was reportedly arrested on criminal fraud charges. His arrest was the result of an extensive investigation by the FBI’s Buffalo Office concerning allegations that Giokas misappropriated $200,000 from one of his clients. At Giokas’… Read more »

John Greg Schmidt Lawsuit | Broker Misconduct

Who Is John Greg Schmidt? | John Greg Schmidt Lawsuit John Greg Schmidt was a  is a Bellbrook, Ohio broker. This Dayton-area broker was most recently registered with Wells Fargo Advisors Financial Network before getting barred by the industry. Recently, FINRA barred Schmidt from “acting as a broker or otherwise associating with a broker-dealer firm…. Read more »

Legg Mason 401k Performance and Fee Investigation

Legg Mason 401k Performance and Fee Investigation Peiffer Wolf Carr & Kane is investigating Legg Mason employee 401(k) accounts. Our initial investigation has uncovered that Legg Mason inserted substantial amounts of its own proprietary funds in employee 401(k) accounts, allowing it to earn fees from its employees’ retirement savings. We believe that these actions were… Read more »

Bryon Martinsen Lawsuit | Broker Misconduct

Who Is Bryon Martinsen? | Bryon Martinsen Lawsuit Bryon Martinsen is a Kings Park, New York broker. Martinsen is currently registered with Centaurus Financial and was previously registered with AXA Advisors. Martinsen currently has 9 Brokercheck Disclosures, including a pending Customer Dispute for “unsuitable investments and several other allegations.” Peiffer Wolf Carr & Kane is… Read more »

AXA Hit With $3.2M FINRA Fine for Rogue Advisor Who Churned Products

Published by Life Annuity Specialist by Arthur D. Postal May 3, 2019 — An upstate New York broker’s decision to switch a farming family’s investments from life insurance to variable annuities may cost AXA Equitable $3.2 million. That’s how much a Financial Industry Regulatory Agency arbitration panel granted to James and Sandra Fitzpatrick, an elderly couple who used to run… Read more »

Axa to Pay N.Y. Egg Farmers $3.2M in Finra Award

Published by Ignites.com By Jill Gregorie May 3, 2019 — Axa Advisors must pay $3.2 million to elderly egg farmers who claim they were sold unsuitable variable annuities and life insurance policies by a Rochester, N.Y.-based broker between 2011 and 2014, a Finra arbitration panel decided last week. James and Sandra Fitzpatrick filed the claim… Read more »

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by New York AG Connection by New York AG Connection 05/03/2019 —   A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA… Read more »

Victimized Family Egg Farm Awarded Record-Setting $3 Million

Published by usagnet by USAgNET 05/03/2019 —   A FINRA arbitration panel has awarded $3.2 million to an Alleghany County egg-farming family swindled in a variable annuity (VA) and life insurance scheme promoted by a former AXA financial advisor who was recently convicted for stealing from another elderly AXA client. The Whitesville, NY, victims were… Read more »