Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 6, 2017 indicate that former Pennsylvania-based PWA Securities broker/adviser John Schneider, also known as Mike Schneider, has received resolved or pending customer disputes and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Schneider (CRD# 2360548).
John Schneider has spent 24 years in the securities industry and was most recently registered with PWA Securities in Pittsburgh, Pennsylvania (2008-2017). Previous registrations include Bill Few Securities in Pittsburgh, Pennsylvania (1997-2008) and Walnut Street Securities in El Segundo, California (1993-1997). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 1, 1994; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 27, 1993; Series 7 (General Securities Representative Examination), which he obtained on August 24, 1993; and Series 24 (General Securities Principal Examination), which he obtained on October 26, 2001. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received two customer complaints, one pending customer complaint and one regulatory sanction.
In August 2017 a customer alleged John Schneider, while employed at PWA Securities, recommended unsuitable products, over-concentrated investments, and failed in his supervisory duties. The customer is seeking unspecified damages in the pending complaint.
In 2017 a customer alleged he, while employed at PWA Securities, “failed to subtract possible returns” in connection to an unsuitable investment that suffered losses. The customer sought unspecified damages in the complaint, which was closed with no action taken.
In 2016 a customer alleged John Schneider, while employed at PWA Securities and Private Wealth Management, executed unauthorized trades, failed in his supervisory duties, and recommended unsuitable investments. The complaint settled in January 2017 for $60,000.
In 2016 a customer alleged John Schneider, while employed at PWA Securities, misclassified trades as solicited, recommended unsuitable investments, and executed unauthorized trades involving mutual fund and exchange-traded fund products. The complaint settled for $42,500.
In 2012 a customer alleged he, while employed at PWA Securities, unsuitably allocated assets in the account, causing a decrease in value. The customer sought at least $200,000 in damages in the complaint, which was closed with no action taken.
In 2007 the State of Alabama sanctioned him following allegations he “effected trades to Alabama residents” without being registered or exempt from registration as a dealer or investment adviser in Alabama. He was issued a fine of $1,500.
If you or someone you know has lost money investing with John Schneider, also known as Mike Schneider, call the experienced attorneys at 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.