Broker / Advisor Investigations - Law Offices of Robert Wayne Pearce, P.A

Mar 17, 2026

LPL Financial Advisor Garth Lurvey Under Investigation For Unsuitable Structured Product Recommendations and Misrepresentations in FINRA Complaint

Our firm is investigating former Private Client Services, LLC broker and investment adviser representative Garth James Lurvey (CRD# 4729301), most recently associated with Private Client Services, LLC in Winter Park, Florida, for potential investment-related misconduct. Financial Advisor’s Career History According to FINRA BrokerCheck, Garth James Lurvey is not currently registered as a broker. His prior brokerage registrations began in December 2003 with Pruco Securities, LLC, followed by Waddell & Reed, Inc. from March 2004 to May 2005, UBS Financial Services Inc. from May 2005 to February 2006, SunTrust Investment Services, Inc. from February 2006 to December 2016, LPL Financial LLC from December 2016 to March 2022, and Private Client Services, LLC from March 2022 to December 2024. BrokerCheck also reflects recent investment-advisory employment with Prime Capital Investment Advisors, LLC beginning in March 2022.

Mar 16, 2026

KCD Financial Advisor Brett Frum Under Investigation For FINRA Complaint Alleging Risky Private Placement Recommendations

Our firm is investigating KCD Financial, Inc. financial advisor and stockbroker Brett Michael Frum (CRD# 2175253) of Tarpon Springs, Florida for potential investment-related misconduct. Financial Advisor’s Career History Brett Michael Frum began his securities industry career in September 1991 with Hibbard Brown & Co., Inc. and later worked for PaineWebber Incorporated, Deutsche Banc Alex. Brown Inc., Seligman Advisors, Inc., Thornburg Securities Corporation, Prudential Investment Management Services LLC, Prudential Investments LLC, MBSC Securities Corporation, BIC Distributors, LLC, Provasi Capital Partners LP, Patrick Capital Markets, LLC, and AEI Securities, Inc. BrokerCheck reflects that he is currently registered with KCD Financial, Inc. as a broker since November 3, 2021 and as an investment adviser representative since August 17, 2022, with current office ties to Tarpon Springs, Florida and Green Bay, Wisconsin.

Mar 15, 2026

Vanguard Financial Advisor Steven Trevor Under Investigation For Customer Disputes Alleging Tax-Related Trading and Mutual Fund Disclosure Misconduct

Our firm is investigating Merrill Lynch, Pierce, Fenner & Smith Incorporated broker and investment adviser Phillip Wayne Jones (CRD# 2445213) of Houston, Texas for potential investment-related misconduct. Financial Advisor’s Career History Phillip Wayne Jones has been associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated since May 1993, and his current FINRA registrations with Merrill Lynch date to February 1994. BrokerCheck also reflects that he has worked for Bank of America, N.A. as a financial advisor since January 2010, both roles being based in Houston, Texas. FINRA’s report shows no prior securities-firm registrations for Jones. His current branch office is listed as 800 Capitol St, Houston, Texas 77002.

Mar 14, 2026

Merrill Lynch, Pierce, Fenner & Smith Incorporated Financial Advisor Phillip Jones Under Investigation For Alleged Misrepresentation, Omissions, and Unsuitable Investment Recommendations (FINRA Complaints)

Our firm is investigating Merrill Lynch, Pierce, Fenner & Smith Incorporated broker and investment adviser Phillip Wayne Jones (CRD# 2445213) of Houston, Texas for potential investment-related misconduct. Financial Advisor’s Career History Phillip Wayne Jones has been associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated since May 1993, and his current FINRA registrations with Merrill Lynch date to February 1994. BrokerCheck also reflects that he has worked for Bank of America, N.A. as a financial advisor since January 2010, both roles being based in Houston, Texas. FINRA’s report shows no prior securities-firm registrations for Jones. His current branch office is listed as 800 Capitol St, Houston, Texas 77002.

Mar 13, 2026

Ameriprise Financial Advisor John Pescatore Under Investigation For Unauthorized Beneficiary Change FINRA Complaint

Our firm is investigating Ameriprise Financial Services, LLC financial advisor and broker John James Pescatore (CRD# 2183696) of Boca Raton, Florida for potential investment-related misconduct. Financial Advisor’s Career History According to FINRA BrokerCheck, John James Pescatore’s registration history begins in October 1991 with Gibraltar Securities Co. in Florham Park, New Jersey. He was then registered with Tucker Anthony Incorporated in Boston, Massachusetts from September 1999 to March 2002, RBC Dain Rauscher Inc. in New York, New York and Philadelphia, Pennsylvania during 2002, J. B. Hanauer & Co. in Parsippany, New Jersey from 2002 into 2006, Oppenheimer & Co. Inc. in Boca Raton, Florida from January 2006 through October 2025, and Ameriprise Financial Services, LLC in Boca Raton, Florida beginning in October 2025.

Mar 12, 2026

Realta Equities Broker Carmen Dean Morrone Jr. Under Investigation For Alleged Failure of Due Diligence and Disclosure in FINRA Customer Complaints

Our firm is investigating Realta Equities, Inc. broker Carmen Dean Morrone Jr. (CRD# 1898874), a stockbroker working from Wantagh, New York, for potential investment-related misconduct. Stockbroker’s Career History BrokerCheck reflects securities registrations dating back to September 1996, when Morrone was registered with Essex National Securities, Inc. He later registered with Dime Securities of NY, Inc.; Royal Alliance Associates, Inc. (twice); Janney Montgomery Scott LLC; CIBC World Markets Corp.; Prime Capital Services, Inc. (twice); Allmerica Investments, Inc.; Wachovia Securities, LLC; Ameriprise Advisor Services, Inc.; NYLife Securities LLC; Oppenheimer & Co. Inc.; National Securities Corporation (twice); Investacorp, Inc.; Muriel Siebert & Co., Inc.; B. Riley Wealth Management; and, since May 12, 2022, Realta Equities, Inc. in Wantagh, New York.

Mar 6, 2026

Capulent LLC Financial Advisor Edward Fernandez Under Investigation For Alleged Unsuitable Delaware Statutory Trust (DST) Recommendations (FINRA Customer Complaints)

Our firm is investigating Capulent LLC broker and financial advisor Edward Eric Fernandez (CRD# 2956661) of Irvine, California for potential investment-related misconduct. Financial Advisor’s Career History Based on his FINRA BrokerCheck report, Mr. Fernandez has been registered with Capulent LLC since October 5, 2017, and is associated with the firm’s Irvine, California office location. His reported securities industry registration history includes: Capulent LLC (Irvine, CA) — 10/2017 to Present Boustead Securities, LLC (Irvine, CA) — 06/2016 to 02/2018 BrokerBank Securities, Inc. (Minnetonka/Bloomington, MN) — 02/2015 to 06/2016 Stephen A. Kohn & Associates, Ltd. (Irvine, CA) — 01/2012 to 06/2014 Pacific Cornerstone Capital Incorporated (Irvine, CA) — 07/2001 to 12/2011 H&R Block Financial Advisors, Inc. (Detroit, MI) — 01/2001 to 01/2001

Mar 5, 2026

Independent Financial Group Financial Advisor John Lee Under Investigation For Alleged Unsuitable Investment Recommendations (FINRA Customer Complaints)

Our firm is investigating Independent Financial Group, LLC financial advisor and stockbroker John Ka-Cheong Lee (CRD# 2948622) of Pleasanton, California for potential investment-related misconduct. Financial Advisor’s Career History Based on his FINRA BrokerCheck report, John Ka-Cheong Lee has been registered in the securities industry since at least 1998 and has reported associations with the following firms: Independent Financial Group, LLC (CRD# 7717) — Registered as a broker and investment adviser representative since 10/2005 (Pleasanton, CA branch shown). National Planning Corporation (CRD# 29604) — Registered 12/2000 to 11/2005 (San Francisco / Los Angeles locations listed). H.D. Vest Investment Securities, Inc. (CRD# 13686) — Registered 01/1998 to 12/2000 (Dallas, TX listed).

Mar 4, 2026

LPL Financial LLC Broker Brian Bates Under Investigation For Alleged Unsuitable Structured Notes (FINRA Complaint)

Our firm is investigating LPL Financial LLC broker and investment adviser Brian Robert Bates (CRD# 2318413) of Phoenix, Arizona for potential investment-related misconduct. Financial Advisor’s Career History Based on the BrokerCheck employment and registration history, Brian Robert Bates has worked in the securities industry with registrations that include, among others: Waddell & Reed, Inc. (05/1993 – 09/1996) SunAmerica Securities, Inc. (09/1996 – 11/1998) Securities America, Inc. (11/1998 – 08/2004) CUE Financial Group, Inc. (09/2004 – 08/2009) Foothill Securities, Inc. (08/2009 – 06/2011) Chase Investment Services Corp. (08/2011 – 10/2012) J.P. Morgan Securities LLC (10/2012 – 10/2013) BBVA Securities Inc. (10/2013 – 08/2021) PNC Managed Account Solutions, Inc. / PNC Investments (08/2021 – 11/2021) LPL Financial LLC (10/2021 – Present)

Mar 3, 2026

LPL Financial Advisor David McCain Under Investigation For Alleged Unsuitable Annuity, UIT, and Tech Stock Recommendations | FINRA Complaint

Our firm is investigating LPL Financial LLC advisor and registered representative David Robert McCain (CRD# 2039283) of Johnson City, Tennessee for potential investment-related misconduct. Financial Advisor’s Career History Based on the broker’s registration history, David R. McCain has worked in the securities industry since at least 1990 and has been registered with multiple firms over his career, including: J.C. Bradford & Co. (05/1990–08/2000); UBS Financial Services Inc. (08/2000–09/2007); Commonwealth Financial Network (08/2007–09/2009); Woodbury Financial Services, Inc. (09/2009–01/2024); Osaic Wealth, Inc. (01/2024–08/2024); and LPL Financial LLC (since 08/19/2024).