Henry J Wieniewitz – and the firm that employs him or her – is regulated by the Financial Industry Regulatory Authority (FINRA).
If you are like most people, before you go out to dinner at a new restaurant, you probably take a quick look at the reviews. This makes sense; you are going to pay for an expensive dinner, and you need to be sure that you are getting a good value.
Yet, when choosing a financial advisor, many people fail to conduct this same level of due diligence. Before turning over access to your money, you need to be sure that you have found a financial advisor that you can trust. Here, our audit report, including details of allegations, complaints, and sanctions will help you decide whether or not to invest with Henry J Wieniewitz.
The stock market is a device for transferring money from the impatient to the patient… Warren Buffet
BrokerComplaints.com is currently investigating allegations related to Henry J Wieniewitz. We provide a free platform for investors to help them in their claims against negligent brokers and brokerage firms.
About Henry Wieniewitz
Henry J Wieniewitz is an Investment Adviser. Henry J Wieniewitz’s Central Registration Depository (CRD) number is 4469542 and the FINRA Profile can be found at – https://brokercheck.finra.org/individual/summary/4469542.
Click here to download a Detailed Audit Report for Henry J Wieniewitz.
Henry J Wieniewitz has previously been reprimanded and has disclosures and/or client dispute(s) listed at FINRA BrokerCheck.
Accusations and Disclosures
You can find below, a quick snapshot of Henry J Wieniewitz’s regulatory actions, arbitrations, and complaints.
DISCLOSURE 1 –
- Event Date: 3/27/2020
- Disclosure Type: Regulatory
- Disclosure Resolution: Final
- Disclosure Detail :: DocketNumberFDA:
- Initiated By: Tennessee Securities Division
- Allegations: Violations of Tenn. Code Ann. u00a756-6-112, and Tenn. Code Ann. u00a7u00a7 48-1-112, 48-1-104 and 48-1-121. Respondent acted as an unregistered broker, and was selling the securities of Woodbridge, the Respondent sold these securities to residents of Tennessee. At the time of these sales, Woodbridge was not registered anywhere in the United States.
- Resolution: Order
- Sanction Details :: Sanctions: Cease and Desist Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
- Sanction Details :: Amount: $454,000.00 Sanctions: Prohibition Sanctions: Revocation
DISCLOSURE 2 –
- Event Date: 7/18/2019
- Disclosure Type: Regulatory
- Disclosure Resolution: Final
- Disclosure Detail :: DocketNumberFDA:
- Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION
- Allegations: SEC Admin Release 34-86409; IA Release 40-5304, July 18, 2019: The SEC deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940 against Henry J. Wieniewitz, III. In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over him and the subject matter of these proceedings and the findings contained herein, which are admitted, Respondent consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions. On the basis of this Order and Respondent’s Offer, the Commission finds that on July 15, 2019, a final judgment was entered by consent against Wieniewitz, permanently enjoining him from future violations of Sections 5(a) and 5(c) of the Securities Act of 1933 and Section 15(a)(1) of the Exchange Act, in Civil Action Number 19-cv-61738, in the United States District Court for the Southern District of Florida.
- Resolution: Order
- Sanction Details :: Sanctions: Bar (Permanent)
- Sanction Details :: Registration Capacities Affected: Any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO
- Duration: Indefinite
- Start Date: 7/18/2019 Registration Capacities Affected: Penny stock
- Duration: Indefinite
- Start Date: 7/18/2019
DISCLOSURE 3 –
- Event Date: 7/15/2019
- Disclosure Type: Civil
- Disclosure Resolution: Final
- Disclosure Detail :: Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION
- Allegations: The Securities and Exchange Commission (Commission) alleges that from no later than February 2016 through July 2018, the Defendants in this action served as unregistered brokers on behalf of Woodbridge Group of Companies, LLC and its affiliates (Woodbridge) and 1 Global Capital, LLC (1 Global). The Defendants raised almost $64.4 million from the offer and sale of unregistered securities to more than 630 retail investors located throughout the United States. The Defendants earned more than $3.5 million in transaction-based sales commissions. The Defendants utilized several marketing techniques, including advertising on television, radio, newspapers, email, social media, and pitching investors at in-person meetings, routinely touting Woodbridge’s and 1 Global’s securities as safe and secure. Unbeknownst to the Defendants’ customers, many of whom had invested their retirement savings, Woodbridge was actually operating a massive Ponzi scheme, raising more than $1.2 billion before collapsing in December 2017 and filing for bankruptcy. Once Woodbridge filed for bankruptcy, investors stopped receiving their monthly interest payments and to date have received only a small amount of their principal back through the bankruptcy process. Unbeknownst to Defendants’ 1 Global investors, 1 Global and its chairman and chief executive officer were syphoning off millions in investor funds to fund a lavish lifestyle and operate unrelated businesses. 1 Global filed for bankruptcy in July 2018. At all relevant times, the Defendants were not registered as broker-dealers with the Commission or associated with a registered broker-dealer. Woodbridge’s and 1 Global’s securities offerings were not registered with the Commission and there was no applicable exemption from registration for these offerings.
- Resolution: Judgment Rendered
- Sanction Details :: Sanctions: Injunction
DISCLOSURE 4 –
- Event Date: 5/1/2019
- Disclosure Type: Regulatory
- Disclosure Resolution: Pending
- Disclosure Detail :: DocketNumberFDA:
- Initiated By: Alabama Securities Commission
- Allegations: On May 1, 2019, the Alabama Securities Commission issued a Cease & Desist Order to Respondents alleging that Henry John Wieniewitz an unregistered agent, offered and sold securities to Alabama residents, Henry John Wieniewitz sold promissory notes through his business, Wieniewitz Financial, LLC and Wieniewitz Wealth Management, LLC. The Commission issued a notice to respondents giving them 28 days from date of receipt of the Order to respond or perfect a right to hearing.
- Sanction Details ::
According to a study prepared for the FINRA Investor Education Foundation, 80 percent of American investors report that they have been solicited to participate in a fraud scheme, while 11 percent of American investors report that they personally lost money as a result of fraud.
FINRA notes that the rate of investment fraud is most likely much higher than it is reported. This is because many victims of financial advisor scams are too ashamed to come forward. Further, the study also found that a significant number of investors do not know how to spot common red flags of investment fraud. The least you should do is share your experience with other potential victims of investment scams.
Previous Associations
Under federal securities law and securities industry regulations, registered investment firms have a legal duty to supervise their financial advisors. Section 15(b)(4)(E) of the Securities and Exchange Act of 1934 makes a securities firm liable for the conduct of representatives.
- TAYLOR CAPITAL MANAGEMENT INC. (CRD#: 43559) :: 11/16/2010 – 1/4/2016 :: KNOXVILLE, TN
- WOODSTOCK FINANCIAL GROUP, INC. (CRD#: 38095) :: 5/5/2008 – 11/10/2010 :: KNOXVILLE, TN
- MADISON AVENUE SECURITIES, INC. (CRD#: 23224) :: 2/21/2006 – 4/29/2008 :: KNOXVILLE, TN
- PARK AVENUE SECURITIES LLC (CRD#: 46173) :: 6/5/2002 – 1/21/2005 :: NEW YORK, NY
The duty to supervise securities representatives is a strong legal requirement. Registered investment firms must take many different steps to ensure that they are protecting their customers from irresponsible and criminal financial advisors.
Legit or Not?
Unfortunately, stockbroker fraud is more common than many investors would like to think. And yes, stockbrokers (including Henry J Wieniewitz, but not limited to) can (and do) steal money from their clients. While it’s rare that a broker will literally steal his client’s money (though that does happen), typically the “theft” of investment funds comes in the form of other fraudulent violations of securities law and FINRA rules which leads to significant investment losses.
Sometimes investment losses occur because advisors, stockbrokers, and even brokerage firms, commit fraud. Massimo Vignelli
Investors generally understand that there are risks associated with buying and selling securities. The market can go up, and the market can go down. No matter how skilled of an investor you are, there are always risks. With that being said, sometimes investment losses cannot be blamed on simple back luck.
There are 10 major types of complaints we receive against Investment Brokers –
- Outright Theft (Conversion of Funds)
- Unauthorized Trading
- Misrepresentation or Omission of Material Facts
- Excessive Trading (Churning)
- Lack of Diversification
- Unsuitable Investment Recommendations
- Failure to Disclose a Personal Conflict of Interest
- Front Running of Transactions
- Breakpoint Sale Violations
- Negligent Portfolio Management
Do your due diligence before investing. Public records are available for everybody to review and decide on the safest bet.
How to Protect Yourself
We, as citizens, place a great deal of trust in the financial advisors who are tasked with helping us achieve and maintain financial security. Most of the time financial advisors and stockbrokers are honest folks who work diligently in their client’s best interests. However, on occasion financial advisors and the brokerage firms who employ them mess up and cause serious financial harm to their clients. Sometimes these losses are caused by simple negligence. Other times fraud or other serious misconduct is to blame.
Here are 5 signs that your broker needs to be reported –
- Breach of Fiduciary Duty: Under the Investment Advisers Act of 1940, certain investment professionals, known as registered investment advisors (RIAs), owe fiduciary obligations to their customers. Your investment broker must always look out for your best interests. If you lost money because of your broker’s breach of fiduciary duty, you may be entitled to compensation for the full value of your damages.
- Unsuitable Investments: Many financial advisors are not fiduciaries. Instead, they are held to the suitability standard. These stockbrokers and financial advisors can only sell and recommend financial products that are appropriate for a customer’s unique investment profile. If you lost money in unsuitable investments, you should consider reporting them.
- Material Misrepresentations or Omissions: Brokers have a duty to make fair and honest representations to their clients. If they fail to do so, and an investor loses money due to a misrepresentation or a material omission, the broker may be liable for the investor’s losses.
- Lack of Diversification: Brokers must also act with the appropriate level of professional skill. Pushing a customer into over-concentrated investments is highly risky. Brokers can be held liable for losses sustained because of an investor’s inappropriate lack of diversification.
- Excessive Trading (Churning): Stockbrokers and financial advisors must have a well-grounded, reasonable basis to execute all trades. Unfortunately, there are cases in which brokers will frequently trade on a customer’s account, simply to increase their own fees. This unlawful practice is known as churning.
- Unauthorized Trading: Brokers must have the proper legal authority to make transactions on behalf of a client. If you lost money because your broker made trades that you never approved of, you may have been the victim of unauthorized trading. You should consult with an experienced attorney.
Report Henry Wieniewitz
In order to prevail in an investment fraud lawsuit or FINRA arbitration cases, you must be able to assert a viable ‘cause of action’.
Henry J Wieniewitz – and the firm that employs this broker – is regulated by the Financial Industry Regulatory Authority (FINRA). FINRA provides an online form to allow investors to file a formal complaint against their financial advisor, stockbroker, or brokerage firm.
Click here to go to FINRA’s Online Complaint Form →
This form will ask you for specific information related to your complaint. Be prepared by gathering the following:
- Name and symbol for the investment product in question.
- The CRD number (4469542) for the broker – Henry J Wieniewitz
- Your complete contact information.
Remember, it is advised to report your broker to FINRA, only after you have exhausted all of your other remedies and carefully prepared a compelling complaint. Once you file a complaint against your broker at FINRA, your case will be bound by FINRA’s rules and the arbitration panel’s eventual decision. The time clock will start, and your complaint will be served on your broker or broker-dealer.
The views and opinions expressed in these articles are those of the source BrokerComplaints.com and do not necessarily reflect the official position of ‘The Skeptic Files,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.
This article is syndicated automatically through a third-party agency from BrokerComplaints.com.
To view the original article at BrokerComplaints.com, you can visit https://brokercomplaints.com/report/henry-j-wieniewitz/.
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