PFS Investments

Kurta Law is investigating PFS Investments. Our firm is aware of numerous PFS Investments brokers who have misconduct allegations on their records. Additionally, the firm has regulatory actions on its record that investors should review.

PFS Investments (CRD #: 10111) is associated with Primerica, a financial services company with headquarters in Duluth, Georgia.

PFS Investments also conducts brokerage firm business under the following names (or has used these names in the past):

• Blue Mountain Financial Group
• Torchlight Financial Group
• Swope Financial Partners
• Sheppard Financial Group
• Primevision Financial Group
• Primerica Advisors
• PFS Investments
• Newman Financial Group
• Loe Financial Group
• Lashner Financial Group
• Landmark Financial Group
• Keller Financial Associates
• First American National Securities
• H.R. Financial Group
• Drake Financial Group
• Diel Financial Group
• Deevers and Sons
• CMJ Financial Group
• Castlerock Financial Group
• Bohannan Financial

What Investments Does PFS Investments Offer?

PFS Investments offers a limited range of investments.

• Stocks and bonds
• Mutual funds
• Variable annuities
• Fixed indexed annuities

Conflicts of Interest

Securities rules and regulations require PFS Investments to not put its own financial interests ahead of its customers. However, the way this firm makes money creates conflicts of interest.

Below are conflicts of interest that PFS Investments discloses in its Customer Relationship Summary (Form CRS).

• Revenue Sharing: The firm has an incentive to recommend its Platform Funds and annuity providers because these products pay fees to PFS Investments.
• Third-party payments: PFS Investments also has an incentive to recommend platform funds because they offer third-party payments.
• Mutual funds and variable annuities pay the firm more than other products, creating an incentive to recommend them over other payments.
• Broker commissions: Brokers receive commissions when investors purchase investments from PFS Investments. These commissions also create an incentive for brokers to recommend that you sell an investment in order to purchase another product from PFS Investments.

Other Fees

Investors may also access a managed fund through Primerica Advisors. These accounts come with an ongoing, asset-based fee. This creates an incentive for Primerica Advisor representatives to encourage you to add to your investments.

Regulatory Actions

Kurta Law wants investors to know about the following regulatory actions on PFS Investments’ record. To review all 25 disclosures, visit the firm’s detailed BrokerCheck record.

Outside Business Allegations

On July 12, 2024, PFS Investments entered into an Acceptance, Waiver, and Consent agreement (AWC) to settle allegations that the firm failed to establish a supervisory system. As a result, the firm allegedly failed to enforce FINRA Rule 3270, the FINRA rule that requires firm representatives to disclose their outside businesses. Three PFS Investments representatives allegedly co-owned and operated an outside business that they failed to disclose.

Eventually, FINRA sanctioned the three representatives for failing to disclose their outside e-commerce business in writing. PFS Investments was also allegedly aware that the three representatives posted about their outside business on social media, which PFS customers could see.

Failure to Supervise: FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

Outside Business and Selling Away

FINRA Rule 3270 requires brokers to inform their firm of any outside business activities or any investments sold away from the firm. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise the broker’s duties. Firms may also require brokers to seek approval of any outside business.

Terms of the AWC

As part of the terms of the AWC, the firm consented to a censure and a $60,000 fine.

$75,000 Massachusetts Fine

On November 26, 2019, Massachusetts fined PFS Investments $75,000 for allegedly unregistered employees and supervisors.

$9,000 Nevada Fine Following Motivational Speaker Allegations

On June 18, 2012, Nevada fined PFS Investments $9,000 following allegations that the firm did not have procedures requiring its representatives to disclose to the firm compensation received from outside motivational speakers in connection with seminars that representatives must pay a fee to attend.

The firm was also ordered to pay $40,000 to reimburse Nevada for its investigation.

Allegations of Broker Misconduct

PFS Investments works with brokers who have misconduct allegations on their records. Kurta Law is aware of the following current or former PFS brokers who have records of alleged misconduct. This is not necessarily a complete list, and you should contact Kurta Law if you have concerns about your broker.

• Davie Ambrose: https://www.kurtalawfirm.com/blog/davie-ambrose/
• Nick Therrien: https://www.kurtalawfirm.com/blog/nick-therrien/
• Brian Nelson: https://www.kurtalawfirm.com/blog/brian-keith-nelson/
• Brandon Neil: https://www.kurtalawfirm.com/blog/brandon-neil/
• Ian Prukner: https://www.kurtalawfirm.com/blog/ian-prukner/
• Luis Jean-Bart: https://www.kurtalawfirm.com/blog/luis-jean-bart/
• Daniel Ditch: https://www.kurtalawfirm.com/blog/daniel-ditch/
• Steven Sacoolas: https://www.kurtalawfirm.com/blog/steven-sacoolas/
• Charles Negrete: https://www.kurtalawfirm.com/blog/charles-negrete/
• Larry Norton: https://www.kurtalawfirm.com/blog/larry-norton/
• Jonathan Norton: https://www.kurtalawfirm.com/blog/johnathan-norton/
• Michael Gray: https://www.kurtalawfirm.com/blog/michael-gray/
• Peggy Hensley: https://www.kurtalawfirm.com/blog/peggy-hensley/
• Galen Williams: https://www.kurtalawfirm.com/blog/galen-williams/
• Bradley Stokke: https://www.kurtalawfirm.com/blog/bradley-stokke/
• C. Scott: https://www.kurtalawfirm.com/blog/k-c-scott/
• Kevin Hobbs: https://www.kurtalawfirm.com/blog/kevin-hobbs/
• Phil Donahue: https://www.kurtalawfirm.com/blog/phil-donahue/
• Deepak Shah: https://www.kurtalawfirm.com/blog/deepak-shah/
• Sabeena McWhinney: https://www.kurtalawfirm.com/blog/sabina-mcwhinney/
• Steven Hirata: https://www.kurtalawfirm.com/blog/steven-hirata/
• Paul Shie: https://www.kurtalawfirm.com/blog/paul-shie/
• Shane Perry: https://www.kurtalawfirm.com/blog/shane-perry/
• Eddie Suarez: https://www.kurtalawfirm.com/blog/eddie-suarez/
• Adriane Troublefield: https://www.kurtalawfirm.com/blog/adrian-troublefield/
• Jose Batalla: https://www.kurtalawfirm.com/blog/jose-batalla/
• Igor Kislitsa: https://www.kurtalawfirm.com/blog/igor-kislitsa/
• Roger Arnold: https://www.kurtalawfirm.com/blog/roger-arnold/

Kurta Law Can Help

If you lost money after working with a PFS Investments broker, contact a Kurta Law investment fraud attorney. Our attorneys provide free case evaluations and do not collect a fee unless we win your case. Call (877) 600-0098 or email info@kurtalawfirm.com.