Articles Tagged with Summit Brokerage Services

Jay Wallinger

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 2, 2018 indicate that Nebraska-based Summit Brokerage Services broker/adviser Jay Wallinger has been involved in a customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Wallinger (CRD# 2407056).

Jay Wallinger has spent 24 years in the securities industry and has been registered with Summit Brokerage Services in Stuart, Nebraska since 2016. He was previously registered with VSR Financial Services in Stuart, Nebraska (1993-2016). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 4, 1998; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 10, 1993; Series 7 (General Securities Representative Examination), which he obtained on August 10, 2001; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on October 25, 1993. He is a registered broker and investment adviser with eleven US states: Arizona, California, Colorado, Iowa, Kentucky, Montana, Nebraska, New Jersey, North Dakota, South Dakota, and Texas.

According to his BrokerCheck report, Jay Wallinger has received one customer complaint.

David Hill

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on December 23, 2017 indicate that former Florida-based Summit Brokerage Services broker/adviser David Hill was recently discharged from his former employer in connection to alleged policy violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hill (CRD# 818407).

David Hill has spent 40 years in the securities industry and was most recently registered with Summit Brokerage Services in Port Orange, Florida (2014-2017). Previous registrations include NBC Securities in Port Orange, Florida (2011-2014); Woodbury Financial Services in Daytona Beach, Florida (2009-2011); Colonial Brokerage in Daytona Beach, Florida (2007-2009); Amsouth Investment Services in Naples, Florida (2006); Great American Advisors in Cincinnati, Ohio (1998-2006); Fiserv Investor Services in Houston, Texas (1998); FSC Securities Corporation in Atlanta, Georgia (1998); Crispin Koehler Securities in Tampa, Florida (1997-1998); Painewebber in Weehawken, New Jersey (1991-1997); Securities America in La Vista, Nebraska (1989-1991); First California Capital Markets Group (1989-1990); Mariner Financial Services in Largo, Florida (1989); PFG Securities (1988-1989); First American National Securities (1988); Integrated Resources Equity Corporation (1977-1988); Integrated Resources Capital Services (1983-1988); Security First Financial (1980-1985); Aetna Life Insurance and Annuity Company (1983); Anchor National Financial Services (1979-1980); and Waddell & Reed (1976-1977). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 6, 1995; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 16, 1985; and Series 1 (Registered Representative Examination), which he obtained on February 16, 1976. He is currently not registered with any state or firm.

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

Clay Hoffman

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 7, 2017 indicate that former Georgia-based Summit Brokerage Services broker/adviser Clay Hoffman has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hoffman (CRD# 4371162).

Clay Hoffman has spent 14 years in the securities industry and was most recently registered with Summit Brokerage Services in Brunswick, Georgia (2013-2016). Previous registrations include SunTrust Investment Services in St. Simons, Georgia; Merrill Lynch, Pierce, Fenner & Smith in Ponte Vedra Beach, Florida; and Edward Jones in Tifton, Georgia. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received ten customer complaints and four regulatory sanctions.

Brion HarrisPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on July 26, 2017 indicate that Maryland-based Summit Brokerage Services broker/adviser Brion Harris was recently sanctioned by the California Department of Insurance and has received a customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr Harris (CRD# 3199095).

Brion Harris has spent 18 years in the securities industry and has been registered with Summit Brokerage Services in Annapolis, Maryland since 2013. Previous registrations include Cambridge Investment Research in Annapolis, Maryland; Lincoln Financial Securities Corporation in Annapolis, Maryland; AXA Advisors in New York, New York; and the Equitable Life Assurance Society of the United States in New York, New York. He is a registered broker and investment adviser with 19 US states and territories.

According to his BrokerCheck report, he has received two regulatory sanctions and one customer complaint, and was discharged from a former employer.

Christopher JorgensenPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on July 6, 2017 indicate that former New York-based Summit Brokerage Services broker Christopher Jorgensen has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Jorgensen (CRD# 1919475).

Christopher Jorgensen has spent 28 years in the securities industry and was most recently registered with Summit Brokerage Services in Setauket, New York (2012-2017). Previous registrations include Raymond James Financial Services in Smithtown, New York; Citigroup Global Markets in Hauppage, New York; AG Edwards & Sons in St. Louis, Missouri; WJ Nolan & Company in New York, New York; and Faitos & Company. He is currently not registered with any state or firm.

According to his BrokerCheck report, Christopher Jorgensen has received one FINRA sanction, was discharged from two former employers, and has received two customer complaints.

James MuirPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 12, 2017 indicate that Florida-based Summit Brokerage Services broker/adviser James Muir has received pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Muir (CRD# 1457774).

James Muir has spent 31 years in the securities industry and has been registered with Summit Brokerage Services in Sarasota, Florida since 2013. Previous registrations include Stifel Nicolaus & Company in Sarasota, Florida; Advest in Hartford, Connecticut; Robert W. Baird & Company in Milwaukee, Wisconsin; and Prudential Securities in New York, New York. 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 seven US states and territories: Florida, New Jersey, New York, North Carolina, Ohio, Pennsylvania, and Virginia.

According to his BrokerCheck report, he has received two pending customer complaints.

Kim Love

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 20, 2016 indicate that Florida-based Summit Brokerage Services broker/adviser Kim Love has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Love (CRD# 1242426).

Kim Love has spent 33 years in the securities industry and has been registered with Summit Brokerage Services in Boca Raton, Florida since 2005. Previous registrations include Wachovia Securities Financial Network in St. Louis, Missouri; JWGenesis Securities in Boca Raton, Florida; JW Charles Securities in Boca Raton, Florida; EF Hutton & Company; and Painewebber. She 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 30 US states and territories.

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

Francis VeltenPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 18, 2017 indicate that Florida-based Summit Brokerage Services broker/adviser Francis Velten has been the subject of several customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Velten (CRD# 2291911).

Francis Velten has spent 24 years in the securities industry and has been registered with Summit Brokerage Services in New Port Richey, Florida, since 2006. Previous registrations include Gunnallen Financial in New Port Richey, Florida and A.G. Edwards & Sons in St. Louis, Missouri. He is a registered broker and investment adviser with 40 US states and territories.

According to his BrokerCheck report, he has received four customer complaints.

Philip Mason

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on March 8, 2017 indicate that West Virginia-based Summit Brokerage Services broker/adviser Philip Mason has been the subject of a customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Mason (CRD# 3109571).

Philip Mason has spent eighteen years in the securities industry and has been registered with Summit Brokerage Services in Fairmont, West Virginia since January 2017. Previous registrations include Park Avenue Securities in Morgantown, New York; AXA Advisors in Fairmont, West Virginia; and the Equitable Life Assurance Society of America 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 6 (Investment Company Products/Variable Contracts Representative Examination). He is a registered broker and investment adviser with three US states: Ohio, Pennsylvania and West Virginia.

According to his BrokerCheck report, he has received one customer complaint and two complaints that were closed or denied.

VOYAAccording to publicly available records released by the Financial Industry Regulatory Authority (FINRA) on November 2, 2016, and accessed on February 3, 2017, FINRA has sanctioned eight broker-dealer firms in connection to alleged sales variable annuity sales violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding the firms in question: VOYA Financial Advisors, Cetera Advisor Networks, Cetera Financial Specialists, First Allied Securities, Summit Brokerage Services, VSR Financial Services, Kestra Investment Services, and FTB Advisors.

FINRA’s release alleges that the firms failed to supervise the sales of variable annuity products. According to the complaint: “The L-share VAs at the heart of this action are complex investment products combining insurance and security features designed for short-term investors willing to pay higher fees in exchange for shorter surrender periods. L-shares also had the potential to pay greater compensation to the firms and registered representatives than more traditional share classes. Each of the firms in this action lacked an adequate system to supervise variable annuities with multiple share classes, and failed to provide its registered representatives and principals with reasonable guidance regarding the narrow class of customers for whom the costs and features of L-share variable annuities were suitable.”

The release goes on to say that the alleged failures were “compounded” when the L-shares were often sold with “complex and expensive guaranteed income and withdrawal riders that provided benefits only over longer holding periods.” VOYA, as well as four Cetera Group firms, allegedly failed to notify red flags of “broad patterns of potentially unsuitable sales of this product combination.”