Public records published by the Financial Industry Regulatory Authority (FINRA) on June 22, 2016 indicate that Texas-based Next Financial Group broker/adviser Dion Padilla is the subject of a pending FINRA complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Padilla (CRD# 4432230).
Dion Padilla has spent 14 years in the securities industry and has been registered with Next Financial Group in San Antonio, Texas since 2006. Previous registrations include Securities America in La Vista, Nebraska; UBS Financial Services in Weehawken, New Jersey; Valic Financial Advisors in Houston, Texas; and Merrill Lynch in New York, New York. He is a registered broker and investment adviser with four US states: California, Colorado, Missouri, and Texas.
According to his BrokerCheck report, Dion Padilla has received one customer complaint and is the subject of a pending customer complaint and a pending FINRA complaint.
In June 2016, Dion Padilla was named respondent in a FINRA complaint alleging he executed “unauthorized purchases of a variable annuity for a customer of his member firm and concealed this information from the customer for over nine months through repeated misrepresentations that he had not invested the customer’s funds into a variable annuity.” According to FINRA’s complaint, the customer invested more than $700,000 in the annuity, though he had allegedly repeatedly told Mr. Padilla that he did not wish to purchase an annuity. The complaint remains pending.
In April 2016, a customer alleged Dion Padilla, while employed at Next Financial Group, “failed to include a principal protection for life rider in connection with a recommended variable annuity investment.” The customer is seeking $342,000 in damages in the pending complaint.
In 2014, a customer alleged Dion Padilla, while employed at Next Financial Group, executed an unauthorized trades. The complaint settled for $69,400.73, to which Mr. Padilla individually contributed $54,400.73.
If you or someone you know has complaints regarding Dion Padilla, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.