Philip Donald Beviano, Broker with Signature Securities, Named in Multiple Pending Customer Disputes Alleging Misrepresentations

The clients are seeking over $250K, collectively, for Beviano’s alleged misconduct.

Philip Donald Beviano Jr. (CRD#: 2516187) is registered as a broker and investment adviser with Signature Securities, where he has been employed since 2009. Beviano was previously registered as a broker and investment adviser with CitiGroup Global Markets from 2007 until 2009.

Beviano has eleven disclosures on his BrokerCheck report. Three customer disputes filed against Beviano were denied.

February 2021 Customer Dispute

• Status: Pending
• Allegations: Client alleges financial loss due to misleading statements and faulty investment advice.
• Damage Amount Requested: $130,000.00

January 2021 Customer Dispute

• Status: Pending
• Allegations: Client alleges breach of fiduciary duty, breach of contract, material misrepresentations and omission and negligence.
• Damage Amount Requested: $86,000.00

November 2020 Customer Dispute

• Status: Pending
• Allegations: Client alleges breach of fiduciary duty, breach of contract, material misrepresentations and negligence.
• Damage Amount Requested: $65,000.00

November 2012 Customer Dispute

• Status: Settled
• Allegations: Alleges that during the period October 1, 2008 through January 20, 2009, FA engaged in unsuitability, misrepresentation, fraud, negligence, breach of fiduciary duty, breach of contract, violation of the 1934 Securities Act and Rule 10B-5 and violation of FINRA Rules regarding security transactions in claimant’s account.
• Damage Amount Requested: $100,000.00
• Settlement Amount: $1,500.00

October 2011 Customer Dispute

• Status: Settled
• Allegations: Breach of contract and breach of fiduciary duty
• Damage Amount Requested: $56,000.00
• Settlement Amount: $10,939.00
• Broker Comment: Claim was settled by the firm with no contribution from the broker.

July 2010 Customer Dispute

• Status: Settled
• Allegations: Fraud, negligence, breach of fiduciary duty, breach of contract, suitability, excessive trading, false and misleading statements, misrepresentation, breach of covenant of good faith and fair dealing and violation of FINRA Rules from December 2007 until December 2009
• Damage Amount Requested: $120,000.00
• Settlement Amount: $48,000.00
• Broker Comment: Claim was settled with no admission of wrongdoing on behalf of either the firm or the broker and with no contribution from the broker, who was not named as respondent.

December 2009 Customer Dispute

• Status: Settled
• Allegations: Breach of contract and breach of fiduciary duty
• Damage Amount Requested: $2,000.00
• Settlement Amount: $1,826.00

November 2009 Customer Dispute

• Status: Settled
• Allegations: Negligence, breach of fiduciary duty, churning, suitability, misrepresentation, violation of FINRA Rules
• Damage Amount Requested: $50,000.00
• Settlement Amount: $10,000.00
• Broker Comment: The matter was settled with no admission or finding of any liability or wrongdoing on behalf of the respondents and with no contribution from the broker.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Philip Donald Beviano. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.