Finra bars ex-broker for private securities deals

Jerry Lou Guttman was with United Planners' Financial Services.
NOV 16, 2017

The Financial Industry Regulatory Authority has barred former broker Jerry Lou Guttman for engaging in private securities transactions without his firm's prior approval. From 2001 until this past September, Mr. Guttman was associated with United Planners Financial Services, a Scottsdale, Ariz.-based broker-dealer. He is no longer associated with a registered firm. According to Finra, from approximately September 2008 through May 2017, Mr. Guttman participated in private securities transactions without first providing notice to United Planners. This is in violation of Finra rules. During that period, Mr. Guttman sold more than $7 million worth of membership interests in at least six different limited liability companies to 31 firm customers and seven non-customers without informing United Planners.

Latest News

Advisor moves: Wells Fargo FiNet lands $580M Ameriprise team
Advisor moves: Wells Fargo FiNet lands $580M Ameriprise team

LPL Financial and Raymond James also add independent advisors from Osaic and Edward Jones in Michigan and Arizona.

M1 Advisor bets AI can serve clients wealth managers turn away
M1 Advisor bets AI can serve clients wealth managers turn away

The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.

SEC charges Caris Investment Partners in alleged cherry-picking scheme
SEC charges Caris Investment Partners in alleged cherry-picking scheme

95.8% of house trades were winners. For clients? The SEC says just 14.9%.

Pension fund accuses Duolingo of burying user-growth crisis
Pension fund accuses Duolingo of burying user-growth crisis

The complaint says Duolingo added friction on purpose, then lied about it.

Wirehouses losing more advisors so far in 2026: Report
Wirehouses losing more advisors so far in 2026: Report

The four wirehouse firms lost 1,449 experienced advisors and recruited 932 in the first six months of the year, according to Diamond Consultants.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor