Jay Weiser Terminated from DesPain Financial Corporation over Allegedly Unsuitable Reg. D, Life Insurance Products

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.

In June 2018 he was terminated from his position at DesPain Financial Corporation in connection to allegations he sold unsuitable investments in Regulation D products and life insurance.

In May 2018 a customer alleged Jay Weiser, while employed at DesPain Financial Corporation, mis-managed the customer’s retirement assets. The customer is seeking approximately $498,047 in damages in the pending complaint.

If you or someone you know has lost money investing with Jay Weiser, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. 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.