Did you lose money investing with John Terzis (CRD# 1805020)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with John Terzis. If you suffered losses investing with John Terzis, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of April 12, 2023, John Terzis’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
2 Customer Disputes
1 Regulatory Event
1 Employment Separation After Allegations
December 23, 2022 – An AWC was issued in which Terzis was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Terzis consented to the sanction and to the entry of findings that pursuant to a ten-year written promissory note, he borrowed $200,000 from one of his customers, a 69-year-old senior who had health issues, without first notifying or obtaining approval from his member firm. The findings stated that to facilitate the borrowing, Terzis assisted the customer with transferring funds to her personal bank account. For almost two years Terzis made monthly payments on the loan but ceased making payments thereafter. Given his financial circumstances at the time he borrowed the money, Terzis did not have a reasonable expectation of being able to repay the loan in full. In addition, Terzis falsely stated in response to a firm compliance questionnaire that he had not issued or participated in any promissory notes outside of the firm and had not solicited clients to lend funds. (FINRA Case #2022073846901)
Current and Previous Registrations
03/04/2008 – 03/11/2022 LPL FINANCIAL LLC (CRD#:6413) SKOKIE, IL
12/18/2006 – 03/04/2008 IFMG SECURITIES, INC. (CRD#:14416) SKOKIE, IL
02/22/2005 – 09/11/2006 RAYMOND JAMES FINANCIAL SERVICES, INC. (CRD#:6694) GLENVIEW, IL
04/21/2003 – 02/08/2005 VISION INVESTMENT SERVICES, INC. (CRD#:46609) ROSEMONT, IL
09/01/1999 – 04/23/2003 RAYMOND JAMES FINANCIAL SERVICES, INC. (CRD#:6694) ST. PETERSBURG, FL
10/13/1995 – 08/31/1999 MARKETING ONE SECURITIES, INC. (CRD#:16611) PORTLAND, OR
09/27/1993 – 10/09/1995 LIBERTY SECURITIES CORPORATION (CRD#:14416) PURCHASE, NY
09/03/1992 – 09/28/1993 FIRST COLONIAL INVESTMENT SERVICES, INC. (CRD#:26969) ROSEMONT, IL
10/17/1990 – 07/23/1992 COPELAND EQUITIES, INC. (CRD#:7447) SOMERSET, NJ
05/25/1988 – 05/03/1989 AMERICAN EXPRESS FINANCIAL ADVISORS INC. (CRD#:6363) MINNEAPOLIS, MN
05/25/1988 – 05/03/1989 IDS LIFE INSURANCE COMPANY (CRD#:6321) MINNEAPOLIS, MN
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with John Terzis and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
