Erez Law is currently investigating former Kestra Investment Services broker Mark Mappa (CRD# 1874503) regarding oil and gas investment losses. He has been registered with Woodbury Financial Services, Inc. in Northbrook, Illinois, since 2016.
Mark Mappa Customer Complaints
He has been the subject of three customer complaints in 2022, according to his CRD report:
January 2023. “According to Kestra’s filing, claimants allege the sale of a private placement was unsuitable and Kestra failed to conduct appropriate due diligence on the product.” The customer is seeking $100,001 in damages, and the case is currently pending. The complaint was regarding energy sector losses related to oil and gas investments. The complaint took place while he was associated with Kestra Investment Services.
November 2022. “As per the filing by Kestra Investment Services, claimant alleges Kestra failed to conduct proper due diligence on certain alternative investments which led to a misrepresentation of the product. Claimant states that the recommendation for the product was unsuitable inconsideration of her investment objectives and risk tolerance.” The customer is seeking $150,000 in damages, and the case is currently pending. The complaint was regarding energy sector losses related to oil and gas investments. The complaint took place while he was associated with Kestra Investment Services.
November 2022. “Per the filing made by Kestra Investment Services, claimants allege Kestra breached its fiduciary duty, made unsuitable recommendations, and misrepresented the investment product. Additionally, it is alleged that Kestra failed to properly supervise and provide training to representatives.” The customer is seeking $5,000 in damages, and the case is currently pending. The complaint was regarding energy sector losses related to oil and gas investments. The complaint took place while he was associated with Kestra Investment Services.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Kestra Investment Services may be liable for investment or other losses suffered by Mark Mappa’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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