Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on March 19, 2018 indicate that former Texas-based DH Hill Securities broker/adviser Phillip Johnson has been sanctioned by FINRA in connection to alleged rule violations and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Johnson (CRD# 501352).
Phillip Johnson has spent 40 years in the securities industry and was most recently registered with DH Hill Securities in Kingwood, Texas (2014-2017). Previous registrations include SunTrust Investment Services in Nashville, Tennessee (2003-2015); AXA Advisors in New York, New York (1981-2003); the Equitable Life Assurance Society of the United States in New York, New York (1981-2000); and Tanley and Oakley Investment Company (1976-1982). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 17, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 14, 1983; Series 7 (General Securities Representative Examination), which he obtained on April 20, 1985; Series 22 (Direct Participation Programs Representative Examination), which he obtained on February 22, 1984; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on August 7, 1981; and Series 24 (General Securities Principal Examination), which he obtained on March 26, 2001. He is currently not registered with any state, firm or self-regulatory organization (SRO).
According to his BrokerCheck report, Phillip Johnson has received two customer complaints and two FINRA sanctions.
In February 2018 FINRA sanctioned him in connection to allegations he borrowed $528,000 in funds from a customer without providing the firm with prior notification or receiving prior written approval, and additional that he made an inaccurate statement regarding borrowing from a firm customer on a firm questionnaire. He was issued a three-month suspension and a fine of $5,000.
In March 2017 a customer alleged Phillip Johnson, while employed at Suntrust Investment Services, induced her to liquidate a $540,000 variable annuity and invest $258,000 into a real estate, and arranged a personal loan with the customer to purchase the real estate. The complaint settled for $525,000.
In 2015 FINRA sanctioned him in connection to allegations he borrowed $322,000 in funds from a customer of his member firm without providing the firm with prior written notice or receiving prior written approval. He was issued a 3-month suspension and a fine of $5,000.
In 2015 he was “permitted to resign” from SunTrust Investment Services in connection allegations he borrowed funds from a customer without the firm’s authorization or approval. “entered into a loan agreement with an existing client without authorization or approval.”
If you or someone you know has complaints regarding Phillip Johnson, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.