John Schneider; PWA Securities; Pittsburgh, Pennsylvania

According to public, online records with the Financial Industry Regulatory Authority (FINRA), John Schneider was accused of making unsuitable recommendations, over-concentrating accounts and failing to supervise, among other things. In June 2017, a customer claimed that after receiving a 50% return of principal on a real estate private placement investment the investment became worthless. Another customer alleged unauthorized trading, inadequate supervision, and unsuitable investments that took place from June 2010 through May 2016 causing $100,000 in damages. This was in July 2016. These are all against securities laws and internal firm rules. A broker has a responsibility to treat investors fairly, which included obligations such as doing his due diligence on every security, and only making recommendations and sales that are suitable for the client. In order to make a suitable recommendation, a broker must meet certain requirements based on his assessment of the client’s age, net worth, investment objectives and investment risk tolerance. If he does not do so, his brokerage firm may be liable for losses on a contingency fee basis in the FINRA arbitration forum.

John Martin Schneider was previously registered with Walnut Street Securities in El Segundo, California from August 1993 until September 1997, Bill Few Securities in Pittsburgh, Pennsylvania from September 1997 until February 2008 and PWA Securities in Pittsburgh from January 2008 until September 2017. He has five customer disputes against him, one of which is currently pending. He is not currently registered as a broker, according to his online, BrokerCheck report with FINRA.