Andrew Pravlik (CRD #: 2360456), a broker registered with Coastal Equities, Incorporated and an investment adviser registered with Coastal Investment Advisors, is facing investment complaints regarding unsuitable investment recommendations, misrepresentation of investments, and failure to supervise, according to his BrokerCheck record, accessed August 21, 2020.
On June 9, 2020, an investor alleged Andrew Pravlik breached his fiduciary duty, misrepresented certain securities, made unsuitable recommendations, and that his broker-dealer failed to supervise the representative’s recommendation of the purchase of five different alternative investments. The client is seeking $240,000; the dispute is pending.
On October 26, 2017, investors alleged that Andrew Pravlik made unsuitable investment recommendations. The client is seeking $175,000; the dispute is pending.
On January 27, 2017, Andrew Pravlik was terminated from Prospera Financial Services following allegations that he violated firm policing by failing to submit a written correspondence.
Investors should make note of two more disclosures in Mr. Pravlik’s BrokerCheck record.
On May 6, 2010, Andrew Pravlik entered into an Acceptance, Waiver, and Consent agreement with the Financial Industry Regulatory Authority (FINRA), in which he consented to the findings that he falsely coded redemption requests as a required minimum distribution. By falsely coding the redemptions, he improperly prevented the imposition of a sales charge. FINRA states that this conduct infringed on the rights of the mutual fund company whose shares were being redeemed and caused the firm’s records to be inaccurate.
Andrew Pravlik consented to a 90-day suspension from May 17, 2010 to August 14, 2010, and a $5,000 fine. You can find a copy of his AWC here.
On September 3, 2009, Mr. Pravlik was discharged from Hefren-Tillotson following an investigation in which the firm alleged that an order entry was not completed in compliance with industry standards.
Andrew Pravlik has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 – General Securities Representative Examination. He is a registered broker in Arizona, California, Connecticut, Florida, Maine, Maryland, Massachusetts, Michigan, Montana, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, and West Virginia. He is also a registered broker in Pennsylvania.
During his 22 years in the securities industry, Andrew Pravlik has also worked at the following firms:
- Prsopera Financial Services, Incorporated (CRD #: 10740)
- Hefren Tillotson, Incorporated (CRD #: 53)
If Andrew Pravlik was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.