Articles Posted in Terminated Brokers

Kevin Fretz
Kevin Fretz (CRD#: 4128808), a former registered representative with LPL Financial LLC (CRD#: 6413), was terminated from his job on September 12, 2019. According to his BrokerCheck report accessed on October 28, 2019, “Representative maintained blank customer signed forms, failed to report customer complaints and failed to follow customer instructions to deposit funds to investments.” This is not the only disclosure on Kevin Fretz’s BrokerCheck report. On August 27, 2019, a customer alleged that Kevin Fretz engaged in forgery and misrepresented investment recommendations.

Why would a broker keep forms pre-signed by customers? While brokers might ask clients to pre-sign sign forms as a “matter of convenience,” clients should never agree to this because unscrupulous brokers can take advantage of the situation. Blank forms pre-signed by clients can end up as “blank checks” for brokers to facilitate whatever transactions they want, regardless of your best interests. If you later dispute a transaction, your stamp of approval will be on the form, making an unwanted transaction that much harder to contest.

Over his 19-year career in the securities industry, he has worked for six firms, three of which have had their registration status terminated by the SEC:

Jay WeiserPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on September 25, 2018 indicate that former Illinois-based DesPain Financial Corporation broker/adviser Jay Weiser was recently terminated from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Weiser (CRD# 1511042).

Jay Weiser has spent 31 years in the securities industry and was most recently registered with DesPain Financial Services in Collinsville, Illinois (2000-2018). Previous registrations include American Express Financial Advisors in Minneapolis, Minnesota (2000); IDS Life Insurance Company in Minneapolis, Minnesota (2000); and Pruco Securities Corporation in Newark, New Jersey (1986-1999). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on February 22, 2000; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 27, 1992; Series 7 (General Securities Representative Examination), which he obtained on February 11, 2000; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on June 12, 1986. He is currently not registered with any state or firm.

According to his BrokerCheck report, he was discharged from his former employer in connection to alleged rule violations and has received one customer complaint.

Timothy AyrePublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on September 11, 2018 indicate that FINRA has charged Timothy Ayre with securities fraud and “the unlawful distribution of an unregistered cryptocurrency security” known as HempCoin. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Ayre and/or investments in HempCoin.

Timothy Ayre has spent 25 years in the securities industry and was most recently registered as a broker with Four Points Capital Partners in New York, New York (2016). Previous registrations include Spencer Edwards in Agawam, Massachusetts (2016); Jera Securities in Agawam, Massachusetts (1999-2013); Northeast Securities in Mitchelfield, New York (1997-1999); AG Edwards & Sons in St. Louis, Missouri (1994-1997); and Merrill Lynch in New York, New York (1990-1994). He is currently not registered with any state or firm. According to his BrokerCheck report, Timothy he has received three regulatory sanctions and was discharged from a former employer in connection to alleged rule violations.

In 2016 he was terminated from MML Investors Services in connection to allegations he failed to disclose outside business activities, failed to disclose his participation in private securities transactions, and potentially misrepresented material facts regarding “a statement concerning securitization of assets” by a public company in which he served as president.

Frederick RandahnPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 13, 2018 indicate that former Utah-based Sigma Financial Corporation broker/adviser Frederick Randahn was discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Randahn (CRD# 1338801).

Frederick Randahn has spent 32 years in the securities industry and was most recently registered with Sigma Financial Corporation in Ogden, Utah (2012-2018). Previous registrations include Ameriprise Financial Services in Midvale, Utah (2009-2012); Ameriprise Advisor Services in Midvale, Utah (2009); Merrill Lynch in Ogden, Utah (1996-2009); FIS Securities in Boston, Massachusetts (1995-1996); Cigna Financial Advisors in Radnor, Pennsylvania (1987-1994); and Pruco Securities Corporation (1985-1988). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 2, 1996; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 29, 1988; Series 7 (General Securities Representative Examination), which he obtained on December 20, 1986; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on August 31, 1985. He is currently not registered with any state or firm.

According to his BrokerCheck report, he was discharged from his former employer in connection to alleged rule violations.

Kirk BertschPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 13, 2018 indicate that former South Dakota-based Farmers Financial Services broker Kirk Bertsch has been named in an investigation by the South Dakota Division of Insurance and was recently discharged from his former employer in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Bertsch (CRD# 4132889).

Kirk Bertsch has spent 18 years in the securities industry and was most recently registered with Farmers Financial Solutions in Spearfish, South Dakota (2000-2018). He was previously registered with Investors Brokerage Services in Elgin, Illinois (2000). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 7, 2000, and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on June 6, 2000. He is currently not registered with any state or firm.

According to his BrokerCheck report, Kirk Bertsch was discharged from his former employer in connection to alleged rule violations and has been named in an investigation by the South Dakota Division of Insurance.

Dean DiMaggioPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 14, 2018 indicate that New York-based Lincoln Investment broker/adviser Dean DiMaggio has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. DiMaggio (CRD# 1361857).

Dean DiMaggio has spent 32 years in the securities industry and has been registered with Lincoln Investment in Port Washington, New York since 2009. Previous registrations include HRC Investment Services in Glen Head, New York (1993-2009); USLife Equity Sales Corporation in New York, New York (1986-1993); and Kurz-Liebow & Company (1986). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on March 4, 2003; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 27, 1986; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on March 10, 1986. He is a registered broker and investment adviser with eleven US states and territories: California, Connecticut, Florida, Georgia, Indiana, Maryland, New Jersey, New York, Pennsylvania, Puerto Rico, and Wisconsin.

According to his BrokerCheck report, he has received one pending customer complaint and was discharged from a former employer in connection to alleged rule violations.

Scott Williams

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 22, 2018 indicate that former Tennessee-based LPL Financial Services broker/adviser Scott Williams was recently discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Williams (CRD# 2330693).

Scott Williams has spent 25 years in the securities industry and was most recently registered with LPL Financial in Franklin, Tennessee (2017-2018). Previous registrations include Raymond James Financial Services in Franklin, Tennessee (2011-2017) and JJB Hilliard WL Lyons in Memphis, Tennessee, He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 13, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 29, 1993; Series 7 (General Securities Representative Examination), which he obtained on April 14, 1993; Series 10 (General Securities Sales Supervisor – General Module Examination), which he obtained on April 30, 2011; and Series 9 (General Securities Sales Supervisor – Options Module Examination), which he obtained on April 4, 2011. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one denied customer complaint and was recently terminated from his former employer in connection to alleged rule violations.

Jason Brienen

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on August 21, 2018 indicate that former Florida-based Raymond James Financial Services broker/adviser Jason Brienen was recently discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Brienen (CRD# 2249998).

Jason Brienen has spent 24 years in the securities industry and was most recently registered with Raymond James Financial Services in Tallahassee, Florida (1994-2018). He has no previous registrations. He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on January 9, 2018; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 21, 1998; Series 7 (General Securities Representative Examination), which he obtained on June 3, 1994; Series 4 (Registered Options Principal Examination), which he obtained on October 7, 2014; and Series 24 (General Securities Principal Examination), which he obtained on March 8, 1999. He is currently not registered with any state or firm.

According to his BrokerCheck report, Jason Brienen has received one customer complaint and was discharged from his former in connection to alleged rule violations.

Justin ZhouPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 17, 2018 indicate that former Colorado-based Leaders Group broker Jun Zhou, also known as Justin Zhou, was recently discharged from her former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Zhou (CRD# 2825595).

Jun Zhou has spent 13 years in the securities industry and was most recently registered with The Leaders Group in Littleton, Colorado (2015-2018). She was previously registered with Farmers Financial Solutions in Chicago, Illinois (2004-2015). She has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which she obtained on September 13, 2004, and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which she obtained on September 7, 2004. She is currently not registered as a broker with any state, firm or self-regulatory organization.

According to her BrokerCheck report, she was recently terminated from her former employer in connection to alleged rule violations.

Jeffrey Sigman

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Publicly records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 16, 2018 indicate that former Colorado-based First Financial Equity Corporation broker/adviser Jeffrey Sigman, who has been named in a pending FINRA investigation, was recently discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Sigman (CRD# 1418621).

Jeffrey Sigman has spent 31 years in the securities industry and was most recently registered with First Financial Equity Corporation in Greenwood Village, Colorado (2017-2018). Previous registrations include Neidiger Tucker Bruner in Englewood, Colorado (2001-2016); Owen-Joseph Securities in San Diego, California (1996-2001); Painewebber in Weehawken, New Jersey (1991-1996); Prudential Securities in New York, New York (1988-1991); and EF Hutton & Company (1985-1988). He has passed seven securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 13, 1997; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 4, 1985; Series 15 (Foreign Currency Options Examination), which he obtained on February 22, 1990; Series 3 (National Commodity Futures Examination), which he obtained on July 2, 1986; Series 7 (General Securities Representative Examination), which he obtained on October 19, 1985; Series 4 (Registered Options Principal Examination), which he obtained on February 16, 2010; and Series 24 (General Securities Principal Examination), which he obtained on April 28, 1998. He is currently not registered with any state or firm.