DID BRANDON WESLEY HANNA CAUSE YOU INVESTMENT LOSSES?
Brandon Hanna Of Creative Planning Has 7 Customer Complaints For Alleged Broker Misconduct
About Brandon Hanna of Creative Planning?
Brandon Hanna (CRD #6758707) worked as an investment adviser representative at Creative Planning from April 2017 until September 2023. His professional background includes advisory roles, focusing on options trading and portfolio management. Hanna’s career spans over six years within the financial services sector.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Brandon Hanna Customer Complaints and Reviews
Brandon Wesley Hanna has seven customer disputes listed in his IAPD report. Below is a summary of significant incidents:
- Dispute 1: Filed October 20, 2022.
- Allegations: Breach of fiduciary duties, negligence, and violation of Pennsylvania consumer protection laws related to options trading between August 2017 and September 2022.
- Outcome: Arbitration award in favor of Creative Planning. No damages awarded.
- Dispute 2: Filed March 6, 2024.
- Allegations: Breach of fiduciary duty, misrepresentation, and negligence in options trading from February 2017 to September 2023.
- Claimed Damages: $1,000,000. Case is pending arbitration with AAA.
- Dispute 3: Filed February 14, 2024
- Allegations: Breach of fiduciary duty, negligence, and violations of Kansas securities laws for options trading between June 2018 and June 2023.
- Claimed Damages: $800,000. Arbitration is ongoing.
- Dispute 4: Filed August 28, 2024.
- Allegations: Negligence and fiduciary breaches regarding options transactions between April 2017 and March 2020.
- Claimed Damages: $9,500,000. Case is pending arbitration.
- Dispute 5: Filed May 16, 2023.
- Allegations: Securities fraud, elder abuse, and negligence related to options investments from September 2020 to October 2022.
- Claimed Damages: $10,000,000. Arbitration remains unresolved.
- Dispute 6: Filed March 31, 2020.
- Allegations: Fraud, breach of fiduciary duty, and negligence regarding options trading.
- Settlement: Resolved with an arbitration award of $1,593,119.50 to claimants.
- Dispute 7: Filed June 17, 2021.
- Allegations: Fraud, misrepresentation, and violations of state securities laws.
- Settlement: Resolved with a settlement of $4,762,653.00.
These disputes collectively allege significant financial misconduct, with multiple cases still pending arbitration.
Allegations Against Brandon Hanna
The disputes against Brandon Wesley Hanna involve substantial allegations, including:
- Fraud and Misrepresentation:
- Allegations include misrepresentation and omission of material facts during investment recommendations.
- Breach of Fiduciary Duty:
- Claimants allege failures to act in the best interest of clients, particularly in high-risk options trading.
- Elder Abuse:
- Specific claims cite securities fraud and financial elder abuse related to investment advice.
- Damages and Settlements:
- Pending claims involve requested damages ranging from $800,000 to $15,000,000.
Resolved cases resulted in settlements exceeding $6,000,000 combined.
Brandon Hanna Employment History and Licenses
Brandon Hanna has passed the Uniform Investment Adviser Law Examination (Series 65) on April 24, 2017.
- Employment History:
- Creative Planning (April 2017 – September 2023): Registered as an investment adviser in Overland Park, Kansas.
- The Redwood Group (April 2014 – January 2017): Worked as a Risk Manager in Mission, Kansas.
As of November 2024, Hanna is not registered as an investment adviser.
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors have a fiduciary duty to act in the best interest of their clients, placing the client’s interests above their own. This includes providing full disclosure about nature, mechanics, and risks of any recommended investment strategies or activities. Advisors must ensure that clients understand the potential outcomes, costs, and risks associated with investments, enabling them to make informed decisions. The duty of care requires advisors to exercise skill, diligence, and prudence in managing client portfolios, ensuring that recommendations are suitable for each client’s specific financial goals, risk tolerance, and circumstances. This fiduciary responsibility is essential in maintaining trust and ensuring the advisor’s decisions prioritize the client’s needs.
Option Trading Can Be Extremely Risky
Option trading can be highly risky, particularly when it involves complex strategies or high leverage. Options give investors the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a set period. While options can be used to hedge risks, they can also amplify losses, especially for inexperienced investors. Investment advisors who engage in options trading on behalf of clients must carefully consider the client’s risk tolerance and ensure they fully understand the potential outcomes.
More risky options strategies, such as naked calls or puts, involve selling options without holding the underlying asset. This exposes the investor to unlimited losses if the market moves unfavorably. For example, in a naked call strategy, an advisor sells a call option without owning the underlying stock. If the stock price rises significantly, the client could face substantial losses, as they would be obligated to buy the stock at a much higher price. Due to these risks, it’s crucial for advisors to fully explain the strategy and its potential consequences before engaging in such transactions.
Brandon Hanna Red Flags & Your Rights As An Investor
Of course, Brandon Hanna did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Creative Planning on alert to review carefully the activity and performance of their accounts and question whether Brandon Hanna has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Creative Planning also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Creative Planning Due To Brandon Hanna
If you have questions about about Creative Planning and/or Brandon Hanna and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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