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Chadwick Collins: $2 Million Complaint Against Stone Beacon Advisor
Pending investor complaints against Carlsbad, California financial advisor Chadwick Collins (CRD# 2597677) allege seven-figure damages. Financial Industry Regulatory Authority records show that Mr. Collins is a broker and advisor with Wedbush Securities, doing business as Stone Beacon Capital.
Mr. Collins’ BrokerCheck report discloses three pending investor complaints. The most recent, filed in April 2022, alleges that he recommended unsuitable investments in Nabriva Therapeutics. The pending complaint alleges damages of $466,49.65.
An earlier complaint, filed in November 2021, alleges that he was “neglectful and reckless with the management” of the customer’s portfolio while a representative of Kestra Investment Services. This pending complaint alleges damages of $2,375,000.
A third complaint, also filed in November 2021, alleges that a “lack of fiduciary responsibility and margin activity” led to losses in the customer’s account. This pending complaint alleges damages of $1,000,000.
Mr. Collins’ BrokerCheck report also discloses three investor complaints that reached settlements. A complaint filed in 2021 alleged that as a representative of Kestra Investment Services, Mr. Collins made unsuitable investment recommendations involving insurance and equity products. In 2022 the complaint reached a settlement of $150,000. A complaint filed in 2013 alleged that as a representative of Merrill Lynch, he made excessive and unsuitable trades in the account, later settling for $150,000.
According to the Financial Industry Regulatory Authority, Chadwick Collins holds 25 years of securities industry experience. Based in Carlsbad, California, he has been a representative of Wedbush Securities, doing business as Stone Beacon Capital, since February 2022. His past registrations include Kestra Investment Services (2017-2022), Wells Fargo Clearing Services (2009-2017), and Merrill Lynch (1997-2009), all in Carlsbad. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; 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 Arizona and California. (Information current as of June 6, 2022.)
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