Category: News & Articles

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The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in securities, commodities and investment law matters and constantly strives to secure the most favorable possible result. Mr. Pearce provides a complete review of your case and fully explains your legal options. The firm works to ensure that you have all of the information necessary to make a sound decision before any action is taken in your case.

For dedicated representation by a law firm with substantial experience in all kinds of securities, commodities and investment disputes, contact the firm by phone at 833-300-6983, toll free at 800-732-2889 or via e-mail. We may also be able to arrange a meeting with you at offices located in Boca Raton, Fort Lauderdale, Miami and West Palm Beach, Florida and elsewhere.

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.

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Mar 12, 2026

Oil & Gas Program Risks & Loss Potential for Investors

What Are Oil and Gas Investment Programs? Oil and gas investment programs are securities offerings that pool investor capital to fund the exploration, drilling, or production of oil and natural gas wells. They are typically structured as private placements under Regulation D of the Securities Act and sold by broker-dealers, independent promoters, and financial advisors to retail investors seeking tax-advantaged income and energy sector exposure. The most common structure is the direct participation program (DPP), organized as a limited partnership or LLC where investors contribute capital and receive a share of revenue, tax deductions, and losses. Other forms include working interest programs, where investors bear a proportionate share of drilling and operating costs; royalty interest programs, where investors receive production revenue without operating obligations; and turnkey drilling programs, where the sponsor handles all drilling at a fixed price.

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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.

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Mar 10, 2026

Private Placement Offerings – Risks & Loss Potential for Investors

What Are Private Placement Offerings? Private placement offerings are unregistered securities sold under Regulation D of the Securities Act, exempt from the disclosure requirements and ongoing reporting obligations that apply to publicly traded investments. They are typically sold through broker-dealers and financial advisors to retail investors, often retirees and conservative savers seeking higher yields than traditional fixed-income products provide. Reg D offerings span virtually every asset class—real estate, oil and gas, equipment leasing, hedge funds, life settlements, and healthcare facilities. The issuer prepares a Private Placement Memorandum (PPM) describing the investment, its risks, and its terms. Unlike a public prospectus reviewed by the SEC, a PPM receives no regulatory pre-approval.

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Mar 6, 2026

Non-Traded REITs: What Are They? Are They a Good Investment, & How Do They Work?

A non-traded REIT is a real estate investment trust that is registered with the SEC but does not trade on any public stock exchange, and is typically sold by brokers and financial advisors to retail investors seeking income from commercial real estate. Unlike publicly traded REITs—whose shares can be bought and sold on the NYSE or NASDAQ at transparent, market-determined prices—non-traded REITs are illiquid, opaque, and carry upfront costs that can consume 9–15% of the investor’s capital before a single dollar is invested in property. Non-traded REITs raise capital through public offerings sold by broker-dealer networks. The REIT’s sponsor—an external management company—uses the proceeds to acquire income-producing real estate such as office buildings, apartments, healthcare facilities, hotels, or retail centers. Investors receive periodic distributions, often marketed at yields of 5–8%, and are told to expect a liquidity event within seven to ten years.

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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

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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).

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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)

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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).

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