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Articles Tagged with Woodbury Financial Services

Ronald Walter Hannes of Spokane, Washington submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for allegedly failing to produce documents and information requested by FINRA in violation of FINRA Rules 8210 and 2010.

From September 1986 to December 2019, Ronald Walter Hannes was registered as an Investment Company and Variable Contracts Products Representative (IR) with Woodbury Financial Services (Woodbury). According to the FINRA findings, Ronald Walter Hannes allegedly refused to provide documents and information to FINRA during their investigation regarding the allegations that he converted customer funds. The FINRA findings stated that Woodbury terminated Hannes after receiving notice from a client that funds were paid to Hannes for the purchase of life insurance that were not sent to the company. Without admitting or denying FINRA’s findings, Ronald Walter Hannes consented to the sanctions and has been barred from association with any FINRA member in all capacities. Continue Reading

Let Us Help You Recover Your GPB Investment Losses!

Daryl Serizawa is currently employed by Woodbury Financial Services in Irvine, California. During the period 2012 through 2017 he was registered with Independent Financial Group in the same city. During Mr. Serizawa’s securities industry career as a salesperson he has been the subject of three customer complaints. One of those arbitrations was settled, one was denied and the third involving Mr. Serizawa and Woodbury Financial Services is still pending. We believe the pending complaint relates to Mr. Serizawa’s private offer and sale of GPB Capital Holdings sponsored limited partnership interests.

We are attorneys offering to help GPB investors who made private placement investments in the following limited partnerships offered and sold by Mr. Serizawa during his employment with Woodbury Financial Services and the Independent Financial Group; that is, help them to rescind their GPB investment and/or recover their GPB investment losses:

  • GPB Automotive Portfolio, LP
  • GPB Cold Storage LP
  • GPB Holdings, LP
  • GPB Holdings II, LP
  • GPB Holdings III, LP
  • GPB Holdings Qualified, LP
  • GPB NYC Development, LP
  • GPB Waste Management Fund, LP

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Joseph R. Butler, a former Registered Representative with Woodbury Financial Services, Inc. (Woodbury Financial) was permanently barred by the Financial Industry Regulatory Authority (FINRA) for taking advantage of an elderly, dementia suffering customer’s bank accounts, converting her money for his own use, and naming himself as her annuity’s beneficiary, falsely representing that he was her son.

In its investigation, FINRA states that Mr. Butler admitted that his 75 year old, widowed customer who suffered from dementia was dependent on him and trusted him to take care of her.  Mr. Butler was added to the elderly customer’s accounts after observing that her mental faculties were declining.  It was then that Mr. Butler began withdrawing money from her accounts.  According to FINRA’s findings, between September 2009 and December 2010, Mr. Butler wrote nine checks from his customer’s accounts totaling $105,646.158.  Eight of the nine checks were made payable to himself or cash, and the ninth check he used to pay his Federal income taxes.  FINRA goes on to state that Mr. Butler arranged to have the customer’s account statements delivered to his home address rather than hers and, in the same month, wired $5,000 from her accounts to his own, claiming that it was a “test,” according to FINRA.  Further, Mr. Butler sent a change request form for his customer’s $453,000 annuity in which he removed the granddaughters as beneficiaries and named himself, falsely representing on the form that his relationship to the customer was “son.” Continue Reading

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