Former Peoria, Arizona financial advisor Scott Taubman (CRD# 4809824) was recently sanctioned and suspended in connection with alleged rule violations....
Read MoreCIG Advisors Jeffrey Segal & Seth Renaud: Franklin Square Complaint
Recent investor complaints against Glastonbury, Connecticut financial advisors Jeffrey Segal (CRD# 1886939) and Seth Renaud (CRD# 4946831) alleged that they recommended unsuitable investments in a Franklin Square business development company and various real estate investment trusts (REITs). Financial Industry Regulatory Authority records show that both are registered as a broker and an investment advisor with Commonwealth Financial Network, doing business as CIG Private Wealth Management.
Mr. Segal’s and Mr. Renaud’s BrokerCheck reports disclose the same two investor complaints. The most recent, filed in May 2023, alleges that as representatives of Commonwealth Financial Network, they recommended an unsuitable investment in Franklin Square Investment Corporation II. The pending complaint alleges damages of $20,000.
An earlier investor complaint, filed in 2020, alleged that as representatives of Commonwealth Financial Network, they recommended unsuitable investments in FS Energy and Power, Resources Real Estate Opportunity REIT, Griffin-American Healthcare REIT, FS Capital Corp, KBS Strategic Opportunity REIT, and Hines Global REIT. The complaint reached a settlement of $161,355. A statement included with the complaint’s disclosure notes that the settlement was “a business decision” and that the “Claimants dismissed all claims and firm denied any wrongdoing or misconduct.”
According to the Financial Industry Regulatory Authority, Jeffrey Segal holds 34 years of securities industry experience. Based in Glastonbury, Connecticut, he has been a broker and an investment advisor with Commonwealth Financial Network since 1999, doing business as CIG Private Wealth Management. He was previously registered with Allmerica Investments in Worcester, Massachusetts from 1988 until 1999. His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He currently holds 40 state licenses.
FINRA records show that Seth Renaud holds 16 years of securities industry experience. Also based in Glastonbury, he has been a broker and an advisor with Commonwealth Financial Network since 2007. He was previously registered with PFS Investments in Duluth, Georgia from 2005 until 2006. His credentials include the passage of nine securities industry examinations: the Series 6; the Series 7; the SIE; the Series 65; the Series 63; the General Securities Principal Examination, or Series 24; the Corporate Securities Limited Representative Examination, or Series 62; the Direct Participation Programs Representative Examination, or Series 22; and the Futures Managed Funds Examination, or Series 31. He holds 39 state licenses. (Information current as of June 19, 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.
