SERVING CLIENTS NATIONWIDE

FINRA Bars Retirement Income Planner Nathan Silva for Failing to Cooperate with Misconduct Investigation

FINRA barred former Ameritas Investment Corp. broker Nathan Silva for his failure to cooperate with an investigation into several instances of misconduct, including an Ameritas charge that he commingled client funds and participated in non-approved outside business activities, and a customer complaint alleging misrepresentation, churning, and commission gouging related to variable annuities and insurance.

FINRA AWC #2014042689701

According to the investigation and Silva (CRD #5291177)'s BrokerCheck report, Ameritas terminated Silva's employment in November 2014 for commingling of client funds, unapproved outside business activities, and for using a non-approved method of communication (texting), all of which were violations of Ameritas firm policy.

The BrokerCheck report indicates Silva was licensed as an insurance agent with The Silva Planning Group and has also worked at RTD Properties.

According to its archived website, The Silva Planning Group helped "retirees gain confidence in their financial future" through comprehensive retirement income planning education. Retirement Income Certified Planner (RICP) Silva ceased serving as a Senior Insurance Advisor with the Group in March 2016, with its website shutting down shortly thereafter.

BrokerCheck indicates that in 2015, a customer filed a complaint against Silva, seeking damages of $59,187.50 and alleging that Silva had churned the customer's account, gouged commissions, and engaged in misrepresentation over a two year period from 2012-14. The product types associated with the complaint included fixed & variable annuities, and insurance. A settlement in that dispute resulted in the customer receiving $63,935.66.

If you have invested with Nathan Silva or with any broker or financial adviser who has commingled funds or churned your account, or whose misrepresentations and unauthorized outside business activities and violative selling away practices have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Categories