According to FINRA, Stanley C. Niekras (CRD# 2417486, Watertown, NY) is currently under investigation related to his work for two elderly customers, specifically involving claims that he was allegedly entitled to more than $70,000 for purported “estate planning” and “financial planning” services.
Although Niekras allegedly did not have a financial planning or investment advisory agreement with these ninety and ninety-one year old customers, he purportedly presented them with bills claiming that he had spent hundreds of hours over a four-year period working on his customers’ “financial future” and that he was entitled to retroactive compensation at a rate of $250 per hour.
For FINRA’s full findings see FINRA case # 2013037401001.
According to FINRA Broker Check, Niekras was registered with Purshe Kaplan Sterling Investments in Watertown, NY from 05/2014 – 10/2015, and with MML Investor Services in Liverpoll, NY from 05/2005 – 01/2014. Niekras does not appear to be currently licensed and has 8 disclosures listed on FINRA Broker Check including seven customer allegations of unsuitable recommendations.
Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules and they can held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
If you suffered losses investing with Stanley C. Niekras, the securities attorneys at The White Law Group may be able to help. For a free consultation, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. For more information visit us on the web, www.whitesecuritieslaw.com
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.