Category Archives: Andrew Todd Yocum

Andrew Todd Yocum Victims File Arbitration Against Morgan Stanley-The Villages, Florida

July 2016-The Villages Florida

Rex Securities Law recently filed a FINRA arbitration claim against Morgan Stanley alleging that they failed to properly supervise their former broker Andrew Todd Yocum, permitting him to mismanage  the brokerage account of a retired couple from Central Florida. The couple is alleging losses of between $100,000 and $499,000.

Andrew Yocum was employed by Morgan Stanley and worked in their office located at 832 Lake Sumter Landing, The Villages, Florida, until he was discharged for “Allegations concerning acting on verbal discretion” according to FINRA records.

Yocum was barred from the securities industry by FINRA in May 2016. There are numerous customer disputes currently pending by former clients of Andrew Yocum. See this for more on Yocum. 

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. Customers of broker dealers who have a dispute, such as a claim for account losses , are entitled to file an arbitration proceeding against the firm and/or the broker to recover damages.

We are currently evaluating potential cases for former clients of Todd Yocum.

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

Andrew Todd Yocum Investigation-Former Morgan Stanley Broker-The Villages, FLA

July 8, 2016 —The Villages / Lady Lake-Florida

We are investigating Andrew Todd Yocum, a broker who worked for Morgan Stanley from 10/2007-10/2015, on behalf of a elderly retired couple who alleges significant losses to their portfolio on energy sector investments.

Yocum was discharged from Morgan Stanley in October 2015. At the time of his discharge, Morgan Stanley stated that there had been allegations concerning acting on verbal discretion. Following his termination from Morgan Stanley, Yocum worked for a short period of time for Summit Brokerage Services (12/2015-3/2016) ,prior to being barred from the securities industry, see below.

Generally a broker is required to obtain permission from clients prior to making any purchase or sale in the account. Discretionary trading generally requires written authorization from the client.

In May 2016, Yocum was permanently barred from the securities industry by FINRA. Yocum consented to the sanction and to the entry of findings that he refused to appear for on the record testimony in connection with FINRA’s investigation into whether he made unauthorized transactions, exercised discretion without written authority, and recommended unsuitable concentrated purchases of energy sector securities to senior investors. FINRA Investigation 2015048065701. 

Yocum’s FINRA record discloses 12 currently pending customer disputes, many of which involve unsuitable investments and over concentrations of energy sector investments. See this link for more details. 

We are interested in hearing from former clients of Andrew Todd Yocum who may have information relevant to our investigation.

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

Andrew Todd Yocum Discloses 12 Pending Customer Disputes-The Villages, Florida

The Villages- Florida

According to FINRA records Andrew Todd Yocum ,   a stockbroker who formerly was employed by Morgan Stanley and Summit Brokerage Services.   discloses  twelve pending customer disputes, 4 prior customer disputes, a final regulatory event and a termination.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

The twelve pending customer disputes against Yocum include:

  • A Morgan Stanley client who alleges damages of $65,000 for unsuitable investments made in 2013-2015.
  • FINRA Case #16-904 in which a Morgan Stanley Smith Barney client alleges damages of $361,683 for unsuitable investments made from 2010 to 2015.
  • FINRA Case #16-1350 in which a Morgan Stanley Smith Barney client alleges damages of $141,000 for unsuitable investments made 2014-2015.
  • A Morgan Stanley client who alleges damages of $60,000 for damages resulting from an over concentration of oil & gas related securities.
  • A Morgan Stanley client who alleges damages of $186,000 for unsuitable investments in equities, direct investments and corporate debt from 2012-2015.

Yocum was discharged by Morgan Stanley in 10/2015 and the firm made the following allegation in connection with his discharge, on his FINRA record: “Allegations concerning acting on verbal discretion”. 

In May 2016, Yocum was permanently barred from the securities industry by FINRA. Yocum consented to the sanction and to the entry of findings that he refused to appear for on the record testimony in connection with FINRA’s investigation into whether he made unauthorized transactions, exercised discretion without written authority, and recommended unsuitable concentrated purchases of energy sector securities to senior investors. FINRA Investigation 2015048065701. 

Brokers have a duty to make investment recommendations that are suitable for the customer, taking into account the age, health, investment objective and risk tolerance of the investor. Over concentrating a portfolio in a single sector, such as the energy sector, is generally not suitable.

Investors with losses in accounts handled by Andrew Todd Yocum may be able to recover damages from his former employer 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

Andrew “Todd” Yocum -Morgan Stanley Stockbroker- Barred From Securities Industry

UPDATE July 8, 2016-See this link for current update on Andrew Todd Yocum. 

June 1, 2016-The Villages, FL- Lake Mary, FL

Andrew Yocum of Lady Lake/The Villages, Florida is currently named in 11 pending  customer disputes by customers seeking recovery of damages. In several of the cases , the customers allege that their accounts were over concentrated in oil and gas investments. He also discloses 3 prior customer disputes that have been resolved.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Yocum was discharged by Morgan Stanley in October 2015 when a customer alleged that Yocum had traded his account without proper authority, according to FINRA records.

On May 24, 2016, Yocum was permanently barred from the securities industry by FINRA to resolve allegations that he refused to cooperate with a FINRA investigation regarding allegations that he traded customer accounts without permission and recommended unsuitable purchases of energy sector investments to senior citizens.

Andrew Yocum was registered with Morgan Stanley from 6/2009-10/2015. He was most recently registered with Summit Brokerage Services.

Brokers have a duty to make suitable recommendations to customers. Over concentrating an account by recommending that a large percentage of an individual’s liquid net worth be invested in a single stock, or in this case, a single sector is generally not suitable, especially for retirees.

If you have losses in an account handled by Andrew Yocum and you believe you were misled regarding the potential risks of the investment strategy recommended to you, contact us to speak with an experienced securities attorney.

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