Nick Yiantselis: PHX Financial Advisor Faces Suitability Complaint

A recent investor complaint against New York, New York financial advisor Nick Yiantselis (CRD# 6953295) alleges that he made unsuitable investment recommendations, resulting in damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Phoenix Financial.

Mr. Yiantselis’s BrokerCheck report discloses one investor complaint. Filed in June 2026, it alleges that as a representative of Phoenix Financial, he recommended unsuitable and speculative investments. The pending complaint alleges unspecified damages.

In a statement included with the complaint’s disclosure, Mr. Yiantselis defended himself against the allegations. “I deny any wrongdoing; these allegations are frivolous in nature,” he wrote. “Claimants have extensive market experience. Subsequent to the resolution of this matter I intend to seek full expungement from my record.”

FINRA rules stipulate that brokers like Mr. Yiantselis can only recommend investments and strategies that are suitable for a given customer. Under FINRA Rule 2111, a broker must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for the customer’s objectives, a basis reached through reasonable diligence into the customer’s investment profile. FINRA Rule 2010 requires representatives to “observe high standards of commercial honor and just and equitable principles of trade.” Brokers who recommend unsuitable investments may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority, Nick Yiantselis holds eight years of securities industry experience. Based in New York City, he has been registered as a broker with Phoenix Financial since 2022. His past registrations include National Securities. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 40 state licenses. (Information current as of August 1, 2026.)

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.