Articles Tagged with Cambridge Investment Research

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Cambridge Investment ResearchPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 10, 2018 indicate that Iowa-based brokerage firm Cambridge Investment Research was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Cambridge Investment Research (CRD# 39543).

Founded in 1995, Cambridge Investment Research is headquartered in Fairfield, Iowa and registered with 52 US states and territories. According to the firm’s BrokerCheck report, it has received nine regulatory sanctions and two customer complaints that evolved into arbitration.

In May 2018 FINRA sanctioned the firm following allegations it failed to establish, maintain and enforce an adequately designed supervisory system in connection to redemptions of variable annuity and non-traditional exchange-traded fund products. FINRA found that in about 100 instances, firm clients redeemed variable annuity products and transferred the funds to an advisory account, and that firm personnel were involved in and additionally recommended some of these transactions despite the lack of systematic supervision or written procedures governing them. FINRA found as well that the firm did not determine which transactions were recommended by the personnel and were consequently subject to FINRA suitability rules. According to FINRA, 84 firm representatives participated in the trading of non-traditional ETF products in retail customer accounts, executing 4,773 transactions for a total of about $127 million, though the firm failed to enforce its written supervisory procedures regarding non-traditional ETF trades. For instance, per FINRA, the firm permitted representatives to execute the trades before the signed a form attesting they completed a 45 minute training session, as required by the WSPs; additionally, the firm allegedly permitted “many customers” to buy non-traditional ETFs before they had submitted a disclosure form that was required by firm rules.

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Michael SpeerPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 11, 2018 indicate that former Colorado-based Cambridge Investment Research broker/adviser Michael Speer has received customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Speer (CRD# 2414155).

Michael Speer has spent 23 years in the securities industry and was most recently registered with Cambridge Investment Research in Greenwood Village, Colorado (2012-2018). Previous registrations include Presidential Brokerage in Greenwood Village, Colorado (1996-2012) and Chatfield Dean & Company in Greenwood Village, Colorado (1995-1996). He has passed five securities industry examinations: Series 5 (Uniform Investment Adviser Law Examination), which he obtained on September 17, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 5, 1995; Series 7 (General Securities Representative Examination), which he obtained on December 28, 1994; Series 4 (Registered Options Principal Examination), which he obtained on November 26, 1999; and Series 24 (General Securities Principal Examination), which he obtained on March 31, 1995. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received three customer complaints and two denied customer complaints.

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John PronovostPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 6, 2018 indicate that Massachusetts and Connecticut-based Cambridge Investment Research broker/adviser John Pronovost has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Pronovost (CRD# 1990612).  Specifically, we are interested in speaking to customers who lost money investing in LJMIX, which you can read more about by clicking here.

John Pronovost has spent 28 years in the securities industry and has been registered with Cambridge Investment Research in Watertown, Connecticut and Nantucket, Massachusetts since 2008. Previous registrations include MML Investors Services in Watertown, Connecticut (1996-2008) and GR Phelps & Company (1989-1996). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on October 22, 1997; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 24, 1994; Series 7 (General Securities Representative Examination), which he obtained on April 4, 1995; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on September 27, 1989; Series 24 (General Securities Principal Examination), which he obtained on February 26, 2010; and Series 26 (Investment Company Products/Variable Contracts Principal Examination), which he obtained on April 28, 1994. He is registered with 31 US states and territories.

According to his BrokerCheck report, he has received one pending customer complaint.

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Kermit GablePublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on January 25, 2017 indicate that former Texas-based Cambridge Investment Research broker/adviser Kermit Gable has been sanctioned by state regulatory authorities and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Gable (CRD# 2202745).

Kermit Gable has spent 24 years in the securities industry and was most recently registered with Cambridge Investment Research in Arlington, Texas (2012-2016). Previous registrations include BrokersXpress in Richardson, Texas (2009-2011); NFP Securities in Dallas, Texas (2006-2009); MetLife Securities in Springfield, Massachusetts (1992-2006); and Metropolitan Life Insurance Company in New York, New York (1992-2006). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 21, 1996; Series 7 (General Securities Representative Examination), which he obtained on May 4, 1999; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on January 13, 1992. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has been sanctioned by state regulatory authorities and resigned from his former employer in connection to alleged rule violations.

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Christopher DunlapPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 23, 2017 indicate that Illinois-based Cambridge Investment Research broker/adviser Christopher Dunlap has received a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Dunlap (CRD# 4794991).

Christopher Dunlap has spent 13 years in the securities industry and has been registered with Cambridge Investment Research in McHenry, Illinois since 2016. Previous registrations include LPL Financial in McHenry, Illinois (2010-2016) and UVest Financial Services Group in McHenry, Illinois (2004-2010). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 4, 2006; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 16, 2004; and Series 7 (General Securities Representative Examination), which he obtained on June 2, 2004. He is a registered broker and investment adviser with ten US states: California, Colorado, Florida, Illinois, Iowa, Louisiana, Tennessee, Texas, Washington and Wisconsin. He is registered with one self-regulatory organization (SRO), FINRA.

According to his BrokerCheck report, he has received one pending customer complaint.

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Steven Killiany

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 12, 2017 indicate that Maryland-based Cambridge Investment Research broker/adviser Steven Killiany has received a pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Killiany (CRD# 4595879).

Steven Killiany has spent 14 years in the securities industry and has been registered with Cambridge Investment Research in Gaithersburg, Maryland; Chevy Chase, Maryland; and McLean, Virginia since 2010. He was previously registered with MML Investors Services in Bethesda, Maryland (2002-2010). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 66 (Uniform Combined State Law Examination); Series 7 (General Securities Representative Examination); and Series 24 (General Securities Principal Examination). He is a registered broker and investment adviser with 21 US states and territories: Alabama, Arizona, California, Colorado, Delaware, the District of Columbia, Florida, Illinois, Indiana, Maryland, Massachusetts, Michigan, North Carolina, Pennsylvania, Puerto Rico, South Carolina, South Dakota, Tennessee, Texas, Virginia, and West Virginia.

According to his BrokerCheck report, Steven Killiany has received one pending customer complaint.

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John Williams

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on September 8, 2017 indicate that former Mississippi-based Cambridge Investment Research broker/adviser John Williams Jr. has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Williams (CRD# 2410231).

John Williams has spent 21 years in the securities industry and was most recently registered with Cambridge Investment Research in Ridgeland, Mississippi (2013-2017). Previous registrations include LPL Financial in Jackson, Mississippi; Morgan Keegan & Company in Memphis, Tennessee; American Express Financial Advisors in Minneapolis, Minnesota; and IDS Life Insurance Company in Minneapolis, Minnesota. He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination); and Series 24 (General Securities Principal Examination). He is currently not affiliated with any state or firm firm.

According to his BrokerCheck report, John Williams has received one FINRA sanction and was discharged from a former employer.

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Ralph MartinPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on August 22, 2017 indicate that Illinois-based Cambridge Investment Research broker/adviser Ralph Martin was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Martin (CRD# 1357741).

Ralph Martin has spent 32 years in the securities industry and has been registered with Cambridge Investment Research in Washington, Illinois since 2015. He was previously registered with Princor Financial Services in Washington, Illinois. He is a registered broker and investment adviser with 26 US states and territories.

According to his BrokerCheck report and other FINRA records, he has received one FINRA sanction and two customer complaints.

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Donald Megliola

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 28, 2017 indicate that Virginia-based Cambridge Investment Research broker/adviser Donald Megliola has received resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Megliola (CRD# 3011458).

Donald Megliola has spent 19 years in the securities industry and has been registered with Cambridge Investment Research in Reston, Virginia since 2014. Previous registrations include Fulcrum Securities in Reston, Virginia; ING Financial Partners in Reston, Virginia; and Prudential Securities in New York, New York. He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); Series 7 (General Securities Representative Examination); and Series 24 (General Securities Principal Examination). He is a registered broker and investment adviser with 37 US states and territories.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

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Matthew KocsisPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 18, 2017 indicate that North Carolina-based Cambridge Investment Research broker/adviser Matthew Kocsis has received customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Kocsis (CRD# 4787057).

Matthew Kocsis has spent 13 years in the securities industry and has been registered with Cambridge Investment Research in Charlotte, North Carolina since 2011. Previous registrations include Valic Financial Advisors in Greensboro, North Carolina (2008-2011) and Equity Services in Charlotte, North Carolina (2004-2008). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); and Series 7 (General Securities Representative Examination). He is a registered broker and investment adviser with 13 US states and territories: Connecticut, Hawaii, Illinois, Louisiana, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah and Virginia.

In 2013 a customer alleged Matthew Kocsis, while employed a Equity Services, misrepresented and omitted material facts related to a private placement program. The complaint settled in 2014 for $152,000.