OHN WILLIAM SPACH CRD#: 2731192, formerly with Kestra Investment Services of Aliso Viejo, California, was barred on February 21, 2019, by the Financial Industry Regulatory Authority, Inc. (FINRA) for failing to respond to FINRA’s request for information during an investigation of a client complaint.
According to FINRA, without admitting or denying the findings, Spach consented to the sanction and to the entry of findings that he refused to produce documents and information requested by FINRA in connection with its investigation into potential violations relating, in part, to an alleged client complaint noted in his Form U5. FINRA’s findings stated that Spach’s member firm filed a Form U5 terminating his registration and disclosing that he had been permitted to resign while under internal review relating to the potential violation of various firm policies while attempting to settle a client complaint with a client of his registered investment advisor.
According to FINRA’s BrokerCheck, John William Spach, was discharged on July 26, 2018, from NFP Retirement Inc. due to: “Alleged violations of the Investment Advisers Act of 1940 (275.204A-1, 275.204-2; 275.204-3; 275.206(4)-2; 275.206(4)-3 and 275.206(4)-7)) from co-mingling client assets with his own personal assets, breach of fiduciary duty (to include unsuitable investment advice, material misstatements, and failure to disclose material conflicts of interest), circumvention of compliance policies and procedures, and operational systems and procedures of the third-party custodian, and affirmative misrepresentations to the firm.”
In February of 2018, according to BrokerCheck, there was a “Customer Dispute” that alleged, “John Spach, a registered representative associated with Kestra, introduced a client of his independent RIA (not affiliated with Kestra), to an outside investor. The client invested $475,000 and received a promissory note. The RRs (registered representative) client is not a client of Kestra. The promissory note defaulted. Following such default, the client made an oral complaint to the RR, who agreed to settle and pay the client the balance of the note, plus interest per year until paid in full.” The damage amount requested was $450,000.00 and the settlement amount was $450,000.00.
JOHN WILLIAM SPACH was in the securities industry for 22 years and was listed with 6 firms, the 2 most recent listed below:
08/05/2014 – 06/18/2018 KESTRA INVESTMENT SERVICES, LLC – Aliso Viejo, CA
05/21/2007 – 07/24/2014 FINANCIAL TELESIS INC – Westlake Village, CA
If you’ve had financial losses due to the actions or recommendations of former Kestra Investment Services of Aliso Viejo, California, broker JOHN WILLIAM SPACH, contact Soreide Law Group and speak at no cost with a securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.