M Holdings Securities

There are Recent Customer Complaints with Broker Shane Johnson in Firm M Holdings Securities, INC.

April 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Shane Johnson (Johnson), currently associated with M Holdings Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Johnson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $98,364.14 on July 25, 2024.

A representative at the firm supervised by Shane Johnson provided incorrect illustrations to the clients at the time of sale in September 2023 resulting in distributions that were lower than intended. The error was discovered by the firm and disclosed to the client and it was handled through errors and omissions insurance and the clients were made whole. The resulting release agreement named Shane Johnson as allegedly providing incorrect illustrations.

Broker Francis Burke in M Holdings Securities, INC. Firm Has Customer Complaint

April 21, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Francis Burke (Burke), currently associated with M Holdings Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Burke recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $98,364.14 on July 25, 2024.

A representative at the firm supervised by Francis Burke provided incorrect illustrations to the clients at the time of sale in September 2023 resulting in distributions that were lower than intended. The error was discovered by the firm and disclosed to the client and it was handled through errors and omissions insurance and the clients were made whole. The resulting release agreement named Francis Burke as allegedly providing incorrect illustrations despite having no contact with the clients and not being listed on the policies.

Broker Patrick Maguire in M Holdings Securities, Inc. Firm Has Customer Complaint

February 22, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Patrick Maguire (Maguire), currently associated with M Holdings Securities, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Maguire recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,234,482.59 on December 10, 2024.

Client alleges the registered representative failed to exercise reasonable care and diligence in the sale of a Fixed Universal Life Insurance policy, including alleged failure to disclose the characteristics, costs and pricing of the policy.\, Policy signed 10/27/2021

Broker Thomas Rapp in M Holdings Securities, Inc. Firm Has Customer Complaint

January 31, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Rapp (Rapp), currently associated with M Holdings Securities, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Rapp recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,234,482.59 on December 11, 2024.

Client alleges the registered representative failed to exercise reasonable care and diligence in the sale of a Fixed Universal Life Insurance policy, including alleged failure to disclose the characteristics, costs and pricing of the policy. Policy signed 10/27/2021

Advisor Dean Grant Arrested On Charges of Defrauding His Investment Clients

April 13, 2019 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Dean Grant (Grant), formerly associated with M Holdings Securities, Inc. (M Holdings), and operating under the d/b/a name Dean Grant Financial and GFG Strategic Advisors was arrested in February 2019 on charges of fraud. Grant’s company purportedly offers financial and estate planning, life insurance, retirement planning, charitable giving, disability and long-term care. In addition, Grant has three tax liens totaling approximately $150,000.

Grant purportedly turned himself in after an investigation by the Georgia Insurance Commissioner’s Office showed he used nearly $600,000 from at least three clients for his personal gain. Yet, Grant apparently did not obtain any insurance investments with the money. Grant was charged with three counts of insurance fraud, three counts of theft by taking, one count of forgery and two counts of trafficking of an elder person. Authorities claim that clients made checks made out to Dean Grant Financial and then he made checks made out to Dean Grant himself taking the money.

The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”.

Mark Solomon Accused of Selling $1.4 Million In Private Placements Without Notifying His Firm

July 6, 2018 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Mark Solomon (Solomon), formerly associated with M Holdings Securities, Inc. (M Holdings) in Wynnewood, Pennsylvania was suspended by FINRA concerning allegations that he engaged private securities transactions in a real estate private placement. M Holdings terminated Solomon in January 2016 during an ongoing internal review that centered around potential violations of investment related statues and the firm’s policies and procedures.

Thereafter in January 2018 FINRA found that Solomon solicited seven investors to purchase a total of $1,400,000 in interests in a private placement without providing his firm written notice of that activity or obtaining the firm’s written approval prior to doing so. FINRA found that Solomon first provided written notice of his sales activity to his firm after responding to inquiries made by FINRA during an examination of the firm. FINRA suspended Solomon for 12 months and imposed a fine.

At this time it is unclear the extent of Solomon’s outside business activities or private securities transactions. Solomon disclosed a number of outside business activities including that he is the control person limited partnerships, is involved with Devon Park Partnership, Horsham Business Center, and 1000 Howard Blvd Partners LP.

FINRA Bars Former LPL Financial Broker Thomas Caniford From the Industry

September 4, 2015 | by Staff Attorney

The Financial Industry Regulatory Authority (FINRA) barred former LPL Financial LLC (LPL) broker Thomas Caniford (Caniford) after the broker failed to respond to a letter from the regulator requesting information. While BrokerCheck records kept by FINRA do not disclose the nature of the regulatory inquiry, in February 2015, Caniford was terminated by LPL for cause stating that the broker was terminated for 1) having custody and control of client funds in a bank account in violation of firm policy; and 2) failure to provide bank records requested by the firm.

In addition, Caniford has been the subject of at least two customer complaints and four financial liens all tax related. The customer complaints against Caniford allege a number of securities law violations including that the broker made investments in products not approved by LPL, also referred to as “selling away”, and direct theft and misappropriation of funds.

Caniford entered the securities industry in 1982. From March 2004, until March 2008, Caniford was associated with M Holdings Securities, Inc. Thereafter, from March 2008, until his termination in March 2015, Caniford was associated with LPL.