Last Updated: February 2025 (Pahrump, NV)
Here’s What You Need to Know About Pahrump, NV, stockbroker Douglas Nelson:
- Name: Mr. Douglas Duane Nelson
- Current Employer: LPL Financial LLC
- Prior Employers:
- M Stevens Wealth Advisors, LLC (2018 – 2023)
- Kingswood Capital Partners, LLC (2018 – 2022)
- Chalice Wealth Advisors (2018)
- Waddell & Reed (2003 – 2018)
- Function: Stockbroker / Financial Advisor
- DBA: On Target Planning
- Primary Location: Pahrump, NV
- Alias: Doug Nelson
- CRD#: 4609776
- Can Douglas Nelson be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $95,000
- Pending Customer Dispute Seeks Damages of: $160,000
If you’ve sustained damages from Mr. Nelson, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Doug Nelson As Your Stockbroker?
A customer of Kingswood Capital Partners, LLC was paid $95,000 on 12/10/2024 to resolve allegations that Douglas Nelson recommended unsuitable and misleading investments in GWG Holding Inc.’s L Bonds without conducting reasonable due diligence. The claimants alleged that the recommendations violated FINRA’s suitability rule and the SEC’s Regulation Best Interest (Reg BI) under Rule 15l-1(a) of the Securities Exchange Act of 1934.
In 11/2024 a customer of Kingswood Capital Partners, LLC filed a FINRA arbitration seeking of $160,000 alleging that Nelson made an unsuitable investment recommendation in 2020 that did not align with the customer’s investment objectives and risk tolerance. This matter is currently pending.
See this for more information on REITs and Other Alternative Investments
Allegations of Broker Misconduct Against Doug Nelson
Customers of Douglas Nelson have alleged the following wrongdoing in connection with the handling of their investment accounts:
- Unsuitable Investment Recommendations – Customers allege that Nelson recommended investments that were not aligned with their risk tolerance, violating FINRA Rule 2111 (Suitability Rule).
- Failure to Conduct Due Diligence
- Misleading Investment Recommendations –violating SEC’s Regulation Best Interest (Reg BI).
FINRA Rule 2111- suitability -Regulation Best Interest
The Financial Industry Regulatory Authority (FINRA) is responsible for regulating stockbrokers and brokerage firms. Brokers must report customer complaints, disputes, and regulatory sanctions. Additionally, they must disclose financial matters such as personal bankruptcies, judgments, and liens.
Recover Your Investment Losses Now With Rex Securities Law
Investigation of LPL Financial and LPL Brokers-Lawsuits, Arbitrations & Customer Disputes
If you have suffered investment losses in an account handled by Doug Nelson, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.