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Broker Spotlight: Johnathan McHale (John Thomas Financial)

iStock_sad pplThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding New York-based PHX Financial broker Johnathan McHale (CRD# Michael Paesano).

Johnathan McHale has spent twelve years in the securities industry and has been registered with PHX Financial in New York, New York since 2014. Previous registrations include National Securities in New York, New York (2013-2014); John Thomas Financial in New York, New York (2007-2013); First Republic Group in New York, New York (2006-2007); Joseph Stevens & Company in Brooklyn, New York (2005-2006); Westrock Advisors in New York, New York (2004-2005); and Investprivate in New York, New York (2003-2004). Three of Mr. McHale’s prior employers have since been expelled by the Financial Industry Regulatory Authority (FINRA): John Thomas Financial, First Republic Group, and Westrock Advisors. He is a registered broker in ten US states.

According to his BrokerCheck report, Johnathan McHale is the subject of three customer complaints and two denied customer complaints. He was additionally discharged from his position at National Securities.

  • In 2014 a customer alleged Johnathan McHale, while employed at John Thomas Financial, breached his fiduciary duty, breached contract, and negligently misrepresented material facts related to an investment. The complaint settled in 2015 for $14,995.
  • In 2014 Johnathan McHale was terminated from his position at National Securities following allegations he breached firm policy by using a personal email address for business correspondence.
  • In 2012 a customer alleged Johnathan McHale, while employed at John Thomas Financial, recommended unsuitable investments and executed excessive trades. The complaint settled in 2013 for $75,500.
  • In 2012 a customer alleged Johnathan McHale, while employed at John Thomas Financial, executed excessive trades, charged excessive commissions, and recommended unsuitable investments. The customer sought $67,000 in damages in the complaint, which was denied.
  • In 2012 a customer alleged Johnathan McHale, while employed at John Thomas Financial, made unsuitable investment recommendations. The customer sought $43,000 in damages in the complaint, which was denied.
  • In 2009 a customer alleged Johnathan McHale, while employed at John Thomas Financial, mishandled his account “for the sole purpose of generating fees and commissions.” The complaint settled in 2012 for $265,000.

If you or someone you know has a complaint regarding Johnathan McHale, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free