Dion Padilla from San Antonio, Texas
Have you lost money with financial advisor Dion Padilla of San Antonio, Texas? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Dion R. Padilla. FINRA suspended Padilla from the securities industry for 15 months after it was alleged that he made an unauthorized purchase of a variable annuity for a customer. It was also alleged that he misrepresented that the customer was not invested in an annuity. Padilla was also fined $10,000 for this conduct.
Dion Padilla was a financial advisor and registered representative of Next Financial Group from February 2006 to February 2017. He worked at a branch office in San Antonio, Texas. According to BrokerCheck, Padilla has been the subject of two customer complaints, both of which make allegations regarding variable annuities. Padilla owned and operated Padilla & Associates Wealth Management Group.
Brokerage firms like Next Financial Group have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Texas and in the San Antonio area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Next Financial Group.
Click to view: Padilla, Dion FINRA Order
Click to view: Padilla, Dion BrokerCheck 2.8.17
IF YOU LOST MONEY WITH DION PADILLA OR NEXT FINANCIAL GROUP, PLEASE CONTACT US AT 206-795-5798 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.