Category Archives: Robert W. Baird

Robert W. Baird & Co. Broker Sanctioned for Trading Without Approval

October 16, 2015- Portland, Oregon

James G. Christianson  , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from July 2011 to November 2012 he effected approximately 822 purchases and sales of securities in three accounts of a customer and in more than half the transactions he did not discuss the transactions with the customers before placing them.

By such action Christianson exercised discretion without obtaining written authorizations from the customer in violation of FINRA and NASD Rules.

 

AWC No.   2012034397901

Christianson  was fined $10,000 and suspended for 15 days.

According to FINRA records, Christianson  was registered with Robert W. Baird from 11/2014 until the suspension. Prior to that he was registered with McAdams Wright Ragen from 9/2012-11/2014.

McAdams Wright Ragen was acquired by Robert W. Baird & Co. in 2014.

 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

Former Robert W Baird Broker -Franklin, TN, Barred From Securities Industry

Patrick L. Garrett  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he intentionally and knowingly misrepresented to a customer the value of her account by telling the customer that the account was worth about $200,000 more than the value shown on the monthly statement.

Garrett attempted to make the customer whole by misusing funds from the joint account of another customer, resulting in further losses.

AWC No. 2014040147501

Garrett  was  permanently barred from the securities industry.

According to FINRA records Garrett was registered with Robert W. Baird from 6/2000-2/2014.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Robert W. Baird Broker Barred from Industry for Misrepresenting Account Value to Customer

August 4, 2015

Patrick Landon Garrett, of Franklin, TN  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he verbally misrepresented to a customer the value of her account. He also is alleged to have misused customer funds and falsified firm documents in an effort to recover some of the losses in a customer account.

According to FINRA, on multiple occasions from 3/2013-12/2013 Garrett intentionally and knowing misrepresented the value of the account by not telling the customer about losses and misrepresenting that the value was $200,000 more than it was. He told the customer that her printed and online statements were inaccurate because of settlement date issues.

AWC NO. 2014040147501

Garrett  was barred from the securities industry According to FINRA records Garrett  was registered with Robert W. Baird & Co. from 6/2000-2/2014.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Losses on Cushing Royalty & Income Fund ??

June 15,2015,

Cushing & Royalty Income Fund (SRF) which traded at $25 in February 2012 currently trades at less than $5. It is a leveraged fund which invests in oil and gas royalty trusts that was sold in some cases to elderly and conservative retirees who did not understand the risky nature of this investment.

Cushing & Royalty Income Fund was underwritten by these broker-dealers:

  • Stifel, Nicolaus & Company
  • RBC Capital Markets
  • Oppenheimer & Co.
  • Robert W. Baird & Co.
  • BB&T Capital Markets, a division of Scott & Stringfellow
  • Ladenburg Thalmann & Co.
  • Wunderlich Securities
  • Maxim Group

Aside from the risky nature of this investment, the fees and commissions associated with its sale exceeded 6% in some instances.

If you were sold the Cushing Royalty and Income Fund by your stockbroker, call to speak with an experienced securities attorney and learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Feltl & Co. Broker Timothy O’Brien Sanctioned by Securities Regulator

December 31,2014

Timothy David O’Brien   entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he traded the accounts of several his customers at Feltl & Company  without their  prior written authority (exercised discretion)

Industry rules provide that “no member or registered representative shall exercise discretionary power in a customer’s account unless such customer has given prior written authorization to a stated individual or individuals and the account has been accepted by the member…”

From July 2012 to February 2013, O’Brien used discretion to execute over 170 transactions in the customers’ accounts.

Case # 2013036967201

O’Brien was suspended for ten days and agreed to pay a fine of $5,000.

According to FINRA records O’Brien has been  registered with Feltl & Company since  5/4/2012. Prior to that he was registered with Robert W. Baird & Co.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Robert W. Baird & Co. Fined $45,000 by Securities Regulators

Milwaukee, Wisconsin

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.

See the FINRA website for current and historical disciplinary actions.

AUGUST 2013

Robert W. Baird & Co. Incorporated
(CRD #8158, Milwaukee, Wisconsin) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $45,000. The firm has already made restitution to the customers affected in the transactions.

Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it purchased municipal securities for its own account from customers and/or sold municipal securities for its own account to customers at an aggregate price (including any markdown or markup) that was not fair and reasonable, taking into consideration all relevant factors, including the best judgment of the brokerdealer or municipal securities dealer as to the fair market value of the securities at the time of the transaction and of any securities exchanged or traded in connection with the transaction, the expense involved in effecting the transaction, the fact that the broker, dealer, or municipal securities dealer is entitled to a profit, and the total dollar amount of the transactions. (FINRA Case #2010022621201)

If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900