In July 2023, US-based cryptocurrency investment firm and registered investment adviser CoinFund announced that it had closed its $158 million...Read More
Brandon Stalcup: Little Rock Rep Allegedly Made Unauthorized Trades
Former Little Rock, Arkansas stockbroker Brandon Stalcup (CRD# 4024498) recently received an investor complaint that reached settlement. Financial Industry Regulatory Authority records show that the ex-Veritas Independent Partners representative is no longer registered as a broker, though he is a financial advisor affiliated with The Cabana Group.
Mr. Stalcup’s BrokerCheck report discloses one investor complaint. Filed in December 2019, it alleges that as a representative of Magann Capital Corp, he failed to follow instructions and executed unauthorized trades involving mutual funds and exchange-traded notes, resulting in losses of more than $110,000. In February 2021 the complaint reached a settlement of $65,000.
In February 2022 the Arkansas Securities Department initiated a regulatory action alleging that Stalcup “made unsuitable recommendations related to Non-traditional ETFs, Client’s Investment Objectives, and Client’s Directives” while a representative of Magann Capital Corp. The action, which will seek remedies that “may include a fine, suspension, or revocation of registration,” is pending.
In February 2019 Veritas Independent Partners terminated Brandon Stalcup over allegations he “failed to inform the firm of a customer complaint.” In a comment on the termination’s disclosure on his BrokerCheck report, Stalcup said he was “discharged for lack of production and the cost involved with supervising a dual registered individual.” His comment went on: “The delay in reporting a customer complaint, which was not received by me directly, was initially cited as peripheral or secondary to the lack of production and not a violation of any regulation or rule… To date, I have not been provided, directly or indirectly, the nature of or any allegations related to the referenced complaint by the complainant nor the State of Arkansas. I did not intentionally hide or fail to report the inquiry regarding the complaint.”
According to the Financial Industry Regulatory Authority, Brandon Stalcup Brandon Stalcup holds 16 years of securities industry experience. He is not affiliated as a broker with any broker-dealer firm, though he is a financial advisor with The Cabana Group. His past registrations include Veritas Independent Partners (Little Rock, Arkansas; 2017-2019), MML Investors Services (Little Rock, Arkansas; 2017), MSI Financial Services (Little Rock, Arkansas; 2008-2017), Arvest Asset Management (Little Rock, Arkansas; 2001-2007), American Express Financial Advisors (Minneapolis, Minnesota; 1999-2000), and IDS Life Insurance Company (1999-2000). His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He presently holds zero state licenses as a broker. (Information current as of May 12, 2022.)
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.