SIMON JOSEPH – UNITED ADVISOR GROUP Investment Adviser Suspended by FINRA – May Recover Investor Losses
UNITED ADVISOR GROUP Investment Adviser, SIMON JOSEPH Suspended by FINRA.
SIMON MICHEL JOSEPH (CRD#: 5602157), an advisor for Joseph Wealth in Alexandria, VA was recently suspended for six-months after the broker consented to FINRA sanctions.
According to the FINRA AWC, Without admitting or denying the findings, Joseph consented to the sanctions and to the entry of findings that he willfully failed to disclose a consent order issued by the Maryland Securities Commissioner of the Maryland Securities Division on several Forms U4 filed with FINRA. The findings stated that the Securities Commissioner of Maryland issued the Consent Order against Joseph, finding that he had engaged in dishonest and unethical practices by, among other things, effecting discretionary transactions in customer accounts without written authorization and mismarking order tickets. Joseph had notice of the Consent Order when it was issued. However, he did not timely amend his Form U4 to disclose the Consent Order when he was registered at his member firm, nor did he disclose the Consent Order on Forms U4 filed through three subsequent firms he was registered with.
Joseph was also fined $5,000.00 by FINRA.
Truist Investment Services, Inc. had previously accepted Joseph’s voluntary resignation. The former employer alleged that Mr. Joseph misrepresented details surrounding his usage of loan proceeds from his personal securities-backed line of credit as well as details related to compensation for an outside business activity which was approved under the condition he would not be compensated.
Joseph also has two customer complaints that settled.
UNITED ADVISOR GROUP Investment Adviser, SIMON JOSEPH Suspended by FINRA.
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 8/25/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.