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Investment Professionals, Inc Has Been Fined in Connection to Alleged Rule Violations

Investment Professionals, IncPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 12, 2017 indicate that Texas-based broker-dealer Investment Professionals, Inc. has been fined by the State of Massachusetts in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Investment Professionals (CRD# 30184).

Established in Texas in 1992, Investment Professionals is headquartered in San Antonio, Texas and registered as a brokerage and investment adviser firm with 53 US states and territories. Scott Barnes is Chairman of the Board; Richard Dullnig is Registered Options Principal; Jay McAnelly is President and Chief Executive Officer; Christine Walters is Financial Operations Principal and Chief Financial Officer; Brian Surovik is Chief Compliance Officer.

According to the firm’s BrokerCheck report, Investment Professionals was recently sanctioned by the State of Massachusetts.

In March 2017 the Massachusetts Securities Division sanctioned Investment Professionals following allegations the firm “participated in aggressive sales practices which led to unsuitable recommendations to Massachusetts investors” involving variable annuity and market-linked CD products. The firm was issued a fine of $100,000 and ordered to pay restitution and disgorgement to affected customers.

Investment Professionals was also sanctioned by FINRA in February 2017 in connection to allegations the firm “”executed 167 non-bona fide municipal transactions for one trading account without a change in beneficial ownership and of these 167 transactions, the firm executed seven pre-arranged municipal transactions for the same account.” The firm was censured, issued a fine of $125,000, and was required to revise its written supervisory procedures.

If you have lost money investing with Investment Professionals, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.