Julian Jay Piekarczyk (Jay Piekarczyk) – Financial Advisor/Broker Jay Piekarczyk Named in FINRA Complaint | Goodman & Nekvasil, P.A. May Recover Investor Losses
Julian Jay Piekarczyk (Jay Piekarczyk) CRD# 1128773
Jay Piekarczyk was a previously licensed financial advisor with Pruco Securities, LLC.
According to FINRA Allegations:
Piekarczyk was named a respondent in a FINRA complaint alleging that he engaged in an unethical course of conduct by taking advantage of his relationship with a customer to benefit financially from the customer’s policies and accounts and in doing so, acted contrary to representations he made to his member firm and in circumvention of its policies designed to protect the customers. The complaint alleges that Piekarczyk notified his firm that his customer, who was 63 years old at the time, intended to name him as a beneficiary of the customer’s life insurance policy. The firm informed Piekarczyk that he could not be named a beneficiary of the customer’s policy without a firm-approved exception. In response, Piekarczyk represented to the firm that he would not be named a beneficiary of the customer’s policy. Thereafter, Piekarczyk circumvented firm policies by having the customer designate Piekarczyk’s wife as a beneficiary on multiple financial products that Piekarczyk sold to the customer and by assisting the customer in making the beneficiary designations. Piekarczyk further engaged in a course of unethical conduct by convincing the customer to open a joint bank account with him, with right of survivorship. The customer funded the account with a deposit of $76,977.41 and periodically deposited additional funds into the account. Piekarczyk never deposited any funds into the joint bank account. Piekarczyk did not disclose to the firm that his wife was named beneficiary of the customer’s financial products or that he shared a bank account with the customer, thus impeding the firm from supervising his relationship with the customer and addressing conflicts of interest. After the customer’s death, Piekarczyk obtained approximately $146,000 as a result of his wife’s beneficiary designations and his right of survivorship on the shared bank account.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Jay Piekarczyk and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Jay Piekarczyk’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Jay Piekarczyk and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 9/29/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.