Our firm is investigating GWN Securities Inc. broker and investment adviser representative Nicholas Alexander Wyzkiewicz (CRD# 6988713) of Greensburg, Pennsylvania for potential investment-related misconduct arising from a customer complaint about delayed execution of a sell order in a 403(b) retirement account.
Financial Advisor’s Career History
According to FINRA BrokerCheck, Nicholas Alexander Wyzkiewicz has been registered with GWN Securities Inc. since 2018 and is licensed with FINRA and in multiple U.S. states and territories, including Pennsylvania, Florida, West Virginia, California, South Carolina, Virginia, Georgia, and Massachusetts.
His reported employment history over the last decade includes:
- 07/2018 – Present: GWN Securities, Inc., Registered Representative, Palm Beach Gardens, Florida (investment-related).
- 08/2018 – 12/2023: Robert D. Allshouse, Financial Advisor, Greensburg, Pennsylvania (investment-related).
- 03/2017 – 07/2018: Madayne Grill and Espresso, Assistant Manager/Shift Lead/Cook/Expo, Redding, California (non-investment-related).
- 09/2016 – 03/2017: Bethel School of Supernatural Ministry, Full-time student/unemployed, Redding, California (non-investment-related).
- 09/2012 – 08/2016: The Father’s Heart Ministries, Inc., Director of Media/Youth Leader, Penn, Pennsylvania (non-investment-related).
BrokerCheck also lists other business activities, including insurance sales (life insurance, long-term care, and annuity sales), work as a financial professional under a DBA, and ownership of “His Business, LLC,” which was created to receive commission income from GWN Securities Inc.
Wyzkiewicz has passed the Securities Industry Essentials (SIE), Series 6, Series 63, and Series 65 examinations, qualifying him to offer investment company products, variable contracts, and advisory services in approved jurisdictions.
Nicholas Alexander Wyzkiewicz Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck for Nicholas Alexander Wyzkiewicz discloses one settled customer dispute involving a mutual fund investment in a 403(b) account.
According to the disclosure, on May 17, 2022, at approximately 2:45 p.m., a customer called Wyzkiewicz’s office and left a voicemail requesting that he sell the entire 403(b) account to cash. Wyzkiewicz reportedly received the voicemail after market hours and submitted the sell order that evening, resulting in execution at the May 18, 2022 market close. During that time, the market declined significantly.
On May 18, the client contacted the representative and demanded that he pay the difference—$5,583.95—alleging that the voicemail greeting did not make it clear that trade instructions could not be accepted via voicemail. The trade was corrected, and Wyzkiewicz personally paid the client $5,583.95 to make up the difference between the price the client believed should have been obtained and the actual execution price. The product involved was a mutual fund held in the client’s 403(b) retirement account.
The complaint was received on May 20, 2022, and is reported as a settled customer complaint, with the full settlement amount contributed by the individual representative.
As reported in BrokerCheck:
- Type of disclosure: Customer dispute – settled
- Employing firm at time of events: GWN Securities Inc.
- Product type: Mutual fund (within a 403(b) account)
- Allegations: Failure to timely execute customer’s sell request and inadequate disclosure that trade instructions could not be accepted through voicemail, resulting in a claimed shortfall of $5,583.95
- Alleged damages: $5,583.95
- Settlement amount: $5,583.95
- Individual contribution: $5,583.95 (paid by Wyzkiewicz)
- Status: Settled
BrokerCheck does not list any additional customer disputes, regulatory actions, employment terminations, criminal charges, civil judgments, or bankruptcy filings for Nicholas Alexander Wyzkiewicz as of the most recent report.
Investors should understand that the existence of a settled complaint does not, by itself, prove liability or wrongdoing. Many disputes settle for business reasons, including the desire to avoid litigation costs and uncertainty. However, this type of complaint may indicate potential issues with trade execution practices, order-handling procedures, and the clarity of a broker’s communications with clients regarding how and when trade instructions will be processed.
In light of this history, investors who worked with Nicholas Alexander Wyzkiewicz and believe they suffered investment losses due to delayed order execution, mishandled instructions, or other sales practice violations may have potential claims for recovery through FINRA arbitration or other dispute resolution forums.
To obtain a copy of Nicholas Alexander Wyzkiewicz’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010, the “Standards of Commercial Honor and Principles of Trade,” requires brokers to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business. When a representative fails to promptly act on a customer’s clear, time-sensitive sell request—or relies on unclear procedures for receiving trade instructions—that conduct can raise concerns under Rule 2010 because it may fall short of the fairness and professionalism expected of registered representatives in handling customer orders.
Under FINRA Rules 2090 and 2111, brokers must “know their customer” and ensure that recommendations and account handling are suitable based on the client’s investment profile. Even though the reported matter involved a customer’s own sell instruction rather than a new recommendation, allowing a client’s 403(b) account to remain invested during a significant market decline after a clear request to move to cash can potentially expose the client to risk inconsistent with their expressed objectives. When brokers do not timely act on instructions in a way that aligns with the customer’s goals and risk tolerance, they may be viewed as failing to live up to the spirit of these suitability and customer-protection rules. (Law Offices of Robert Wayne Pearce, P.A)
FINRA Rule 2210 governs communications with the public and requires that all broker communications be fair, balanced, and not misleading. If a representative’s voicemail greeting or other communication suggests that messages will be acted on without clearly stating that trade instructions cannot be accepted via voicemail, customers may be misled about how and when their orders will be executed. In situations like the Wyzkiewicz complaint, questions may arise about whether the representative’s communications adequately disclosed the limitations on order acceptance, and whether those communications complied with Rule 2210’s requirements for clarity and balance.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.