n November 15, 2017, JERRY LOU GUTTMAN (CRD#: 1078383), a former broker with United Planners Financial Services, Phoenix, Arizona, was barred by the Financial Industry Regulatory Authority (FINRA) for allegedly engaging in private securities transactions without his firm’s prior approval.
According to FINRA, from September 2008 through May 2017, Guttman participated in private securities transactions without first providing notice to United Planners Financial Services. During that time period, JERRY LOU GUTTMAN sold more than $7 million worth of membership interests in at least six different limited liability companies to 31 of his firm clients and seven non-clients without first informing United Planners.
FINRA’s findings stated that Guttman participated in the sales of these membership interests to firm clients and non-clients by soliciting the membership interests to investors; communicating with investors about their investments; drafting, distributing, and collecting the investment agreements from each investor; collecting and depositing investors’ checks into the companies’ bank accounts; and managing the companies as one of only two managing members.
According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, JERRY LOU GUTTMAN has 6 Disclosures on his broker report. Of the 6 Disclosures, 3 were “Customer Disputes,” 1 was a “Regulatory” which barred him from the industry, and 2 were “Employment Separations after Allegations.” FINRA has barred JERRY LOU GUTTMAN from acting as a broker or otherwise associating with a broker-dealer firm.
JERRY LOU GUTTMAN was in the securities industry for 26 years and was listed with 8 firms the last two are listed below:
11/01/2001 – 10/03/2017 UNITED PLANNERS’ FINANCIAL SERVICES OF AMERICA A LIMITED PARTNER – PHOENIX, AZ
03/09/1998 – 10/12/2001 HORNOR, TOWNSEND & KENT, INC. – HORSHAM, PA
If you were a client of former Phoenix, Arizona, UNITED PLANNERS’ FINANCIAL SERVICES broker, JERRY LOU GUTTMAN, and experienced losses due to his actions or recommendations, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA. No fee if no recovery.