Last Updated: November 2026
Vanderbilt Securities Lawsuit & Complaints: FINRA Fines, Arbitration Award, and Broker Allegations
Vanderbilt Securities, LLC has faced FINRA sanctions, a $200,000 arbitration award, and customer complaints involving its brokers. The White Law Group is investigating complaints and potential lawsuit claims involving Vanderbilt Securities and its affiliated investment adviser, Vanderbilt Advisory Services. Here is what’s on the record and what your options may be. Investors with losses may be able to recover money through FINRA arbitration.
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Vanderbilt Securities Regulatory History
Vanderbilt Securities is a Woodbury, New York broker-dealer with about 350 advisors, according to InvestmentNews. Its BrokerCheck report lists five regulatory events and one arbitration award.
- July 2018, FINRA: FINRA censured the firm and fined it $100,000 for allegedly failing to maintain a system designed to prevent excessive trading and churning. A broker made more than 3,500 trades in a 93-year-old customer’s accounts, causing about $723,000 in trading losses, FINRA said. The firm neither admitted nor denied the findings, according to FINRA’s disciplinary report.
- October 2014, Connecticut: Regulators alleged the firm failed to properly supervise its agents and Connecticut office after a former representative’s fraud case. The consent order required the firm to hire a consultant to review its procedures. It also noted that Vanderbilt repaid affected investors $303,758.20. The firm says it started the investigation and reported the conduct itself.
- Older matters: BrokerCheck also lists matters from 1973, 1993, and 2000. The 2000 matter is an SEC order involving alleged undisclosed trading profits.
Vanderbilt Securities $200,000 Arbitration Award
In September 2021, a FINRA arbitration panel ordered Vanderbilt Securities and an associated person to pay customers $200,000 in compensatory damages. The customers alleged unsuitable investments, breach of fiduciary duty, negligence, and failure to supervise. They had requested at least $1.4 million in compensatory damages. The panel denied their claims against four other individuals, according to the award.
Vanderbilt Securities Brokers With Complaints or Disciplinary Actions
Gregory William Ricker
Vanderbilt Securities fired Gregory William Ricker (CRD#: 2545035) on October 12, 2026, according to BrokerCheck. Customers allegedly reported about 365 unauthorized trades, resulting in losses and commission refunds of more than $192,600. Two customer complaints filed in August 2026 remain pending. Read more about the Gregory William Ricker complaints.
Other Brokers
- Mark Kaplan (CRD#: 1978048): Barred by FINRA in 2018 after he allegedly churned the accounts of the 93-year-old customer in the case above.
- Brian Edward Gardiner (CRD#: 3268932): Customers alleged fraud and negligence over private placements sold from 2017 to 2018, while he was at Cabot Lodge Securities. The $210,000 claim settled for $55,000 in July 2026, and Gardiner contributed nothing to the settlement. He has been registered with Vanderbilt Securities since 2023.
- Kurt Allen Berry (CRD#: 4550773): Suspended by FINRA in 2024 and fined $5,000 for allegedly taking part in private securities transactions without giving written notice to his firms.
- Hagop Jack Nalbandian (CRD#: 2921246): As of July 2025, BrokerCheck showed two customer disputes filed in April 2025 alleging unsuitable and misleading recommendations. The disputes sought $2.5 million and $200,000.
- John Francis Carroll (CRD#: 1148905): Suspended indefinitely by FINRA in 2023 for allegedly failing to comply with an arbitration award or respond to a related FINRA request.
Recovering Losses: FINRA Arbitration vs. Class Action
Class actions often involve publicly traded securities and can take years, with small individual payouts. If your losses are tied to a specific broker or recommendation, an individual FINRA arbitration claim is usually the more direct route.
Contact The White Law Group
The White Law Group, national securities fraud attorneys with offices in Chicago and Seattle, has handled over 800 FINRA arbitration cases. If you lost money with Vanderbilt Securities, our FINRA arbitration attorneys can review your account in a free consultation. Call (888) 637-5510 or contact us online.
