BrokerCheck lists Arete Wealth Management as the firm in a pending customer action naming Richard Brown (CRD 2541545). The customer filed it on March 24, 2026, and no court has ruled on it. The claim is a pending allegation, and Brown denies it in a statement on his report.
His report also shows a dispute from 2011 that settled in 2012 with Lincoln Financial named as the firm.
The matter carries docket number 26STCV21021 and alleged damages of $1,500,000. The customer alleges that in 2021 Richard Brown took part in the sale of premium-financed indexed universal life insurance policies. The customer further claims the illustrations and projections provided were misleading. The claim is pending.
In a statement on BrokerCheck, Brown described the matter as a pending customer-initiated civil action in Los Angeles Superior Court. He said it arose from the sale of fixed life insurance policies as a disclosed Outside Business Activity. He denies the allegations, and the statement notes that there is no judgment or settlement.
Premium financing means the buyer borrows money, often from a bank, to pay the premiums on a large life insurance policy. The policy's cash value usually serves as collateral for the loan. Indexed universal life credits interest to that cash value based on a market index, within limits the insurer sets. The sale rests on illustrations, which project how the cash value and the loan interest might move over the years. If the policy earns less than the illustration assumed, the buyer can owe more than expected.
When we review a claim like this, we read the original illustrations next to the actual policy statements, because the gap between them is usually where the dispute starts. The claim naming Richard Brown uses the term premium-financed indexed universal life insurance policies.
A dispute filed on February 17, 2011 settled on March 5, 2012, according to BrokerCheck. The disclosure names Lincoln Financial as the firm, lists docket 11-00516 and shows a settlement amount of $2,250,000. The clients alleged that Richard Brown's recommendation to place assets with a private portfolio manager, beginning in April 2007, was unsuitable due to high costs.
Brokerage firms have a duty to supervise the brokers who work for them. If Richard Brown handled your account and you have questions, Soreide Law Group can go over it with you. Call (888) 760-6552 or contact us online. Because these claims go to FINRA arbitration rather than a local court, we handle them for investors nationwide. We work on a contingency fee basis. Here is how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 19, 2026. Allegations in customer complaints and arbitrations are claims, not findings. Pending claims remain open and undecided. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
Pending customer claims on BrokerCheck name Michael Graham (CRD 3263494) and list LPL Financial as the firm. Each claim is pending and unproven, and no arbitrator has ruled on any of them. The customers allege that Graham misrepresented guaranteed principal and returns on a secured loan related to a real estate deal.
An SEC decision involving Titan Securities (CRD 131392) of Plano, Texas became final on August 7, 2026, according to FINRA's October 2026 Disciplinary and Other FINRA Actions report. The decision fined the firm $50,000. The record lists the firm as JTA Securities Management, Inc. dba Titan Securities.
Every settled customer dispute on Peter Maller's BrokerCheck report names Lincoln Financial as the firm. Maller holds CRD number 2322403. The newest dispute, filed on March 5, 2024, settled on August 15, 2024 for $12,500 against alleged damages of $50,000. The claimants alleged that the representative represented an oil and gas investment as safe.
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