Hal Mandell Next Financial Group in San Antonio Texas Under Investigation

Harold Mandell (known as Hal Mandell) of San Antonio Texas is a stockbroker who was previously registered with Next Financial Group Inc.. subject to written complaints relating to investment initiated by the customer and set for $ 17,500.00 on 20 June, 2019 based on allegations (1) Mandell focused speculative and aggressive trades in the customer’s account without the customer’s knowledge or consent (2) Mandell killed the customer about the serious losses the customer had when Mandell was involved in Next Financial Group Inc.

Unauthorized transactions are trades that a broker makes for a customer without the customer’s permission or authorization.  The major securities industry self-regulatory organizations have rules prohibiting unauthorized transactions. FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) prohibits brokers from making unauthorized transactions in their customers’ accounts.

6/20/2019

Allegations
Customer alleges during the 3 years he had his account his Registered Representative did not communicate with him about losses; gambled with high risk stocks without his knowledge; lost $35,000 within 6 months during an up market; and was unprofessional when he decided to pull his money from the investments.
Damage Amount Requested
$35,000.00
Settlement Amount
$17,500.00
Broker Comment
I adamantly oppose the customer’s allegations against me and the manner in which the situation was resolved by my prior firm.
6/7/2013
Allegations
THE CLIENT ALLEGED THAT HIS ADVISOR FAILED TO EXECUTE REQUESTED TRANSACTIONS IN 2008 AND 2009.
Damage Amount Requested
$59,932.00

There are certain exceptions. For instance, if a customer has a margin account and the value of the account falls below the brokerage firm’s requirements, the broker may be able to sell the customer’s securities without consulting the customer beforehand. For more information, please read “Margin Position Sellouts”.

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This is not the first time an investor has made a dispute with customers about Mandell. FINRA’s Public Disclosure also confirms that a customer has filed a complaint relating to an investment in the transport of Mandell where the customer requested damages for $ 59,932.00 supported by allegations that Mandell dismissed the customer’s fund’s investment instructions during the period associated with Ameriprise. Financial Services Inc. .

Mandell’s registration was terminated by Next Financial Group Inc. as of 31 July 2019.

03/04/2016 – 07/31/2019
NEXT FINANCIAL GROUP, INC. (CRD#:46214)
SAN ANTONIO, TX
06/27/2014 – 03/04/2016
SIGMA FINANCIAL CORPORATION (CRD#:14303)
San Antonio, TX
10/05/2009 – 07/07/2014
AMERIPRISE FINANCIAL SERVICES, INC. (CRD#:6363)
SAN ANTONIO, TX
10/07/2005 – 10/05/2009
AMERIPRISE ADVISOR SERVICES, INC. (CRD#:5979)
SAN ANTONIO, TX
09/05/1997 – 10/10/2005
WACHOVIA SECURITIES, LLC (CRD#:19616)
ST. LOUIS, MO
02/01/1979 – 09/09/1997
A. G. EDWARDS & SONS, INC. (CRD#:4)
ST. LOUIS, MO

The information contained here is from reliable sources but may not be accurate and not guaranteed. Readers are encouraged to undertake their own independent investigation and assessment of the relevant facts. All claims and allegations are subject to consideration, decisions may be subject to appeal, and there is no conclusion, nor should any inference from any source contained herein be inferred.

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