Securities Broker Brandon Stalcup Involved In Magann Capital Client's Dispute About Unsuitable, Unauthorized Transactions
Soreide Law Group is reviewing BrokerCheck disclosures on Michael Brandon Stalcup (CRD#: 4024498, Little Rock, Arkansas). Namely, the broker discloses information about a possible regulatory action and an investor dispute. Evidently, Stalcup worked for MSI Financial Services (2008 to 2017). Also, he worked for MML Investors Services (2017) and Veritas Independent Partners (2017 to 2019). Let’s take a closer look at the allegations of unsuitable recommendations and unauthorized trading as reported on BrokerCheck. However, bear in mind that the broker denies alleged improper sales practices.
Arkansas Securities Department Investigating Brandon Stalcup
Evidently, the Arkansas Securities Department might take disciplinary action concerning Brandon Stalcup’s actions at Magaan Capital Corp. Notably, regulator could seek suspension, revocation, or other sanctions. Supposedly, Stalcup potentially made unsuitable recommendations based on the client’s objectives and directives concerning non-traditional exchange-traded funds.
Magann Capital Corp Client Alleges Unauthorized Trades
Notably, in December 2019, a Magann Capital Corp client objected to Brandon Stalcup’s sales practices. Apparently, the securities firm or broker is accused of failing to follow instructions, unauthorized trading, unsuitable recommendations (based on the speculative nature of the investments), and breach of fiduciary duty. Supposedly, Stalcup caused the client to experience damages as a result of his actions relating to mutual funds and exchange-traded notes. Because of this, the securities firm opted to settle in February 2021 by paying the client $65,000 in damages. However, the securities broker denies the allegations of sales practice violations, as he claims to have adhered to duties, regulations, and rules.
Veritas Independent Partners Discharges Stalcup As A Securities Broker
Evidently, Veritas terminated Brandon Stalcup as a securities broker on July 18, 2019. Mainly, the securities broker allegedly failed to notify the firm about a client complaint. The complaint, filed by Arkansas Securities Department, concerned Stalcup’s actions as an investment adviser representative of a registered investment advisory not affiliated with Veritas. However, the securities broker denies the allegations of improper sales practices. Specifically, he claims Veritas’ discharge was based on him lacking production and for costs pertaining to his supervision of someone else.
Losses Through Brandon Stalcup?
Did you realize losses because of securities broker Brandon Stalcup? You could touch base with Soreide Law Group at (888) 760-6552 to talk with a helpful securities lawyer about possibly recovering your losses. We take cases on a contingency fee arrangement and advance all costs. The firm has recovered considerable compensation for a lot of investors in the US who have realized losses from financial advisors or securities brokers. Please note that Stalcup denies the allegations of inappropriate sales practices.
