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John Spach: Former Kestra, NFP Advisor Sanctioned

A disciplinary action taken by the Financial Industry Regulatory Authority against former Aliso Viejo, California broker and investment advisor John Spach (CRD# 2731192) barred him after he failed to provide information related to a FINRA investigation into allegations that arose in a customer complaint against him. A former representative of Kestra Investment Services and NFP Retirement Inc., Spach was barred from acting as a broker or otherwise associating with a broker-dealer firm.

According to a Letter of Acceptance, Waiver and Consent (No. 2018058884001) dated February 2019, John Spach’s former member firm, Kestra Investment, filed a disclosure noting that he was allowed to resign during an internal review concerning a possible breach of “various firm policies while attempting to settle a customer complaint” with a customer of his investment advisory practice who was not affiliated with the firm. As part of an investigation into “potential violations relating, in part, to the customer complaint,” FINRA sent Spach a request on December 19, 2018 to provide documents and information by January 9, 2019. FINRA’s findings state that Spach indicated to FINRA through his counsel on January 10, 2019 that he would not comply with the request and produce the requested documents and information. FINRA found that this refusal constituted violations of FINRA Rule 8210, which concerns compliance with FINRA investigations, and FINRA Rule 2010, which concerns standards of commercial honor. As a result of the foregoing alleged conduct, John Spach was barred from associating with any FINRA member in any capacity.

John Spach’s disclosure records also list a customer complaint against him. Filed in 2018, the complaint alleged that while he was employed at NFP Retirement and Kestra Investment Services, he recommended a customer invest $475,000 in a promissory note product that later defaulted; when the client complained, according to the allegations, Spach “attempted to settle the complaint without informing the firm.” The complaint reached a settlement of $450,000.

John Spach is not currently registered as a broker or investment advisor. His employment history includes Kestra Investment Services in Aliso Viejo, California, Financial Telesis, Financial West Group, Sentra Securities Corporation, NFP Securities, and MML Investors Services. He currently holds no state licenses and has passed six securities industry qualification examinations.

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