John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Investors have come forward with complaints about securities broker Douglas Schmitz AKA Douglas Gene Schmitz [CRD#: 1771132, Fargo, ND]. Notably, the securities broker, who worked for Classic, discloses client disputes via Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Classic clients allege that Schmitz committed sales practice violations. For more on these disclosures about Schmitz, see below.
Evidently, a Classic client filed a complaint about Douglas Schmitz. Notably, the client alleged that Schmitz committed sales practice violations. Because of this, the client sustained damages. Therefore, on November 23, 2020, Classic settled this matter by paying the client $275,000.
Also, a client of Classic contested Douglas Schmitz’s sales practices, according to a complaint dated September 10, 2020. Allegedly, Schmitz failed to follow the client’s instructions. Supposedly, the investment accounts which Schmitz sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from Classic or Schmitz in the amount of $5,200 in this ongoing matter.
Evidently, on August 4, 2020, a Classic client filed a complaint about Douglas Schmitz. Namely, the client alleged that Schmitz breached a fiduciary duty. Because of this, the client sustained damages on leveraged ETFs. Therefore, the client requested $40,000 in compensation from Classic or Schmitz. Evidently, this complaint is pending a resolution.
Have you sustained damages because of securities broker Douglas Schmitz? If so, get in touch with Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has effectively recovered money for investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Schmitz and brokerage firms Schmitz was employed by deny any and all allegations of sales practice violations.
John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Sam Bhushan (CRD: 4884717) is named in several pending customer complaints and one settled dispute, according to his BrokerCheck report.
Sterling Louviere (CRD: 2021328), listed on BrokerCheck as Sterling Vaughn Louviere, is named in a pending customer claim over Reg D private placements, with Cabin Securities as the firm named.
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