Broker Andrew Pravlik Involved In Prospera Financial Client Disputes
The Financial Industry Regulatory Authority (“FINRA”) reports troubling information regarding securities broker Andrew James Pravlik (CRD#: 2360456, Pittsburgh, Pennsylvania). FINRA BrokerCheck, which houses public information on securities brokers, shows that three investors filed disputes about Pravlik. Also, two securities firms disaffiliated with him amid misconduct allegations. The securities broker has been sanctioned by FINRA as well. Here’s a summary of these disclosures.
Prospera Financial Services Client Alleges Breach Of Fiduciary Duty By Andrew Pravlik
Evidently, a client of Prospera Financial Services lodged a dispute about Andrew Pravlik in June 2020. First of all, the client claimed that Pravlik breached a fiduciary duty. Secondly, the broker supposedly misrepresented information on DPPs or LPs. Thirdly, the client contended that Pravlik’s recommendations were unsuitable. It also appears that Prospera Financial Services failed to supervise the securities broker. For this reason, the client purportedly experienced damages on five alternative investments that they held since 2016. Consequently, the securities firm opted to settle with the client through making a $27,000 payment to them in January 2021.
Client Of Prospera Alleges Unsuitable Investments In Dispute About Pravlik
A second dispute on Andrew Pravlik’s BrokerCheck record comes from a Prospera Financial Services client. Mainly, the client alleged that Pravlik sold unsuitable investments. It appears that the client invested in insurance products in addition to real estate securities and UITs. Because of the supposedly unsuitable transactions, the client demands $175,000 in this ongoing matter.
Securities Broker Accused Of Omissions
In addition, a client of Prosera Financial Services took aim at Andrew Pravlik in a 2013 dispute. Basically, the client alleged that the broker sold sub optimal investments to them. It seems that the client did not receive vital information from Pravlik regarding UITs and annuities. They also complained about the fees. However, the firm denied this client’s dispute.
Employers Disaffiliate With Andrew Pravlik
Moreover, Prospera Financial Services disaffiliated with Andrew Pravlik because he violated policy. And prior firm Hefren-Tillotson disaffiliated with him following its investigation into his order entries.
Did You Lose Money By Investing Through Pravlik?
Have you sustained losses because of Andrew Pravlik? If so, contact Soreide Law Group at (888) 760-6552 and speak with us about the possible recovery of your investment losses. Soreide Law Group represents its clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who suffered losses due to misconduct of financial advisors and securities brokers. FINRA BrokerCheck indicates that Pravlik denies all accusations of sales practice violations.