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Former H. Beck Broker John Tweardy Discloses $1.2 Million Settlement

John Tweardy (CRD#: 1361757) is a previously registered Broker and previously registered Investment Advisor.

Broker’s Background

He entered the securities industry in 1985 and previously worked for H. Beck, Inc.; Locust Street Securities, Inc.; BMA Financial Services, Inc.; Mony Securities Corporation; MML Investors Services, Inc.; CIGNA Securities, Inc.; and Mutual Benefit Financial Service Company.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in January 2020, a customer dispute against John Tweardy was settled for $1.25M. The allegation states, “Registered Representative was alleged to have misrepresented the risks associated with investments in Business Development Companies, a REIT and a variable annuity. Date of Activity:12/3/13 to 5/24/19.”

In addition, John Tweardy was terminated by H. Beck and the employment disclosure states:

  • November 2018 – “”Failure to respond in a timely manner to both client inquiries and firm inquiries related to a verbal customer complaint.” John Tweardy was discharged by H. Beck, Inc.

For a copy of John Tweardy’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

A real estate investment trust (REIT) is a security that invests in real estate directly either through properties or mortgages. Generally, REITs can be publicly or privately held. Publicly held REITs can be sold on an exchange and publicly traded. Non-traded REITs are sold through broker-dealers and are private. REITs are generally classified as equity, mortgage or hybrid.

REITs have traditionally been sold to customers for their high dividend yield. However, many factors impact the ability of the REIT to maintain dividend and share price stability, including the fluctuation in interest rates, the amount and cost of leverage used by the REIT and collectability of the rents or mortgage payments that comprise the underlying assets within the REIT.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the financial advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]