Former Pittsburgh, Pennsylvania financial advisor Ceondre Colvin (CRD# 7329753) was recently sanctioned by FINRA in connection with alleged rule violations....
Read MoreBrian Culver: Abakon Advisor Lands $500K ETF Complaint
Kalamazoo financial advisor Brian Culver (CRD# 6392736) recently received an investor complaint alleging that his advice resulted in six-figure losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Cambridge Investment Research, doing business as Abakon Financial.
Mr. Culver’s BrokerCheck report discloses one investor complaint. Filed in November 2023, it alleges that as a representative of Cambridge Investment Research, he “recommended highly speculative and unsuitable” investments in exchange-traded funds. The pending complaint alleges damages of $500,000.
In a statement included with the complaint’s disclosure, Mr. Culver pushed back against the allegations, writing that he “was unaware that the client took on business debt with a bank and the investment account was used as collateral.” The statement adds that he was “made aware at the time he was instructed from the bank to liquidate the client account,” at which point he was “obliged to sell the entire stock portfolio when the market was at a low.” The customer, the statement concludes, “was aware of the stocks in the portfolio and it was in accordance with the risk tolerance and timeframe.”
Other current or former Cambridge Investment Research advisors to receive investor complaints include Brian Dumont, Matt Stucke, Gus Mask, Kurt Cambier, and Mike Valenta.
According to the Financial Industry Regulatory Authority, Brian Culver holds eight years of securities industry experience. Based in Kalamazoo, Michigan, he has been a broker and an investment advisor with Cambridge Investment Research since 2015. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, California, Michigan, and Texas. (Information current as of December 10, 2023.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.
