Tag Archives: Edward Jones problem

Danielle McAniff-Former Edward Jones Broker-Discloses Regulatory Sanction-Albuquerque, N. Mexico

February 2018-Albuquerque, New Mexico

The FINRA records of Danielle Jean McAniff, a broker currently employed by NEXT Financial Group, disclose that she was recently suspended for two months and fined $5,000 by securities regulators.

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.

In FINRA Letter of Acceptance Waiver and Consent 2016051104501, FINRA found that from June 2013 to June 2016, while employed by Edward Jones,  McAniff engaged in a practice , and permitted her office administrator, to have customers sign blank and incomplete forms or use photocopied customer signatures.

This conduct violated various FINRA rules, including FINRA Rule 2010 which requires brokers to “observe high standards of commercial honor and just and equitable principles of trade”.

McAniff was ‘permitted to resign’ from Edward Jones in 7/2016.  She joined NEXT Financial Group in 9/2016.

 

If you have questions about an account handled by Danielle J. McAniff contact us to 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

Marcos Yanez-Former LPL Financial Broker-Named in Customer Dispute Over Insurance and Loan-Dallas, TX

April 2017-Dallas, Texas

The FINRA records of  Marcos Yanez ,  a   former stockbroker with LPL Financial who is currently not registered with any brokerage firm disclose a pending customer dispute.

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.

In currently pending FINRA case #17-0528 a customer of LPL Financial and Edward Jones alleges damages of $200,000 for misrepresentations in the sale of a variable life insurance policy. In Addition the customer alleges that Yanez convinced him to take out a margin loan in order to loan the money to Yanez.

Yanez was employed by LPL Finanical from 12/2011-3/2016. Prior to that he was with Edward Jones 7/2007-1/2012. Yanez discloses business relationships with STAIB Wealth Management and Silver Sail Wealth Advisors.

If you have questions about an account handled by Marcos Yanez, call to learn about your options.

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

Austin W. Morton-Former Edward Jones Broker-Named in Theft Complaint-Sallisaw, OK

March 2017-Sallisaw, OK

According to publicly available records Austin W. Morton , (CRD# 5538108) ,  a  currently unregistered stockbroker who previously worked for Edward Jones  disclose a pending regulatory matter, a pending customer dispute and a termination from employment.

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.

In FINRA case 2016052347901, the regulator named Morton alleging that he converted $36,000 from an 82 year old former customer with dementia. The complaint alleges that Morton first took $20,000 in cash from the customer after taking he took the customer to the bank to withdraw the money. He then had the customer loan him $6,000 for non existent medical expenses, but actually had the customer give him a signed blank check which Morton made out for $22,000 according to FINRA. He also had the customer give him $2,000 for a purported outside business investment.

Edward Jones discharged Morton in November 2016.

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

Larry Stohs-Former Edward Jones Broker-Discloses Termination

January 2017-Columbia, South Carolina

The FINRA records of  Larry A. Stohs,  a  former stockbroker with Edward Jones disclose a termination from employment and two prior customer disputes.

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.

 

In January 2015 Stohs was discharged from Edward Jones with allegations that he violated firm policy regarding discretionary orders by exercising time and price discretion in clients’ accounts.

FINRA Rules prohibit certain types of conduct, including the following:

  • Purchasing or selling securities in a customer’s account without first contacting the customer and receiving the customer’s authorization to make the sale or purchase, unless the broker has received from the customer written discretionary authority to effect transactions in the account or the broker was given discretion as to price and time.

Stohs was registered with Edward Jones from 6/1993-2/2015, with Investors Capital Corp. from 3/2015-10/2016 and is currently registered with Cetera Advisors.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

If you have questions about an account in an account handled by Larry A. Stohs , contact us to discuss your legal options.

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

George Sefanou-Edward Jones Broker-Discloses Settlement of Customer Dispute

August  2016-Orlando / The Villages, Florida

The FINRA records of George Sefanou ,  a  stock broker who is currently employed by Edward Jones  , disclose a recently settled customer dispute.

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.

In FINRA Case 15-0387, a customer of Edward Jones alleged that Stefanou’s recommendation to transfer their retirement accounts to Edward Jones was unsuitable in that the transfer caused tax consequences and penalties. They also alleged that Stefanou failed to calculate properly IRS Code Section 72T distributions and that a recommendation to purchase mutual funds was unsuitable due to high fees associated with the purchase. That case was recently settled for $50,000.

Stefanou has been employed by Edward Jones since 8/2009.

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

Tonya M. White-Former Edward Jones Broker-Permanently Barred From Securities Industry

Oklahoma City, OK

According to FINRA records Tonya M. White (aka Tonya M. Nix ,   a stockbroker who formerly worked for Edward Jones  discloses a final regulatory matter and a separation from employment after allegations.

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.

White’s FINRA record indicates that the Oklahoma Department of Securities permanently barred her in 8/2015 for calling third parties and impersonating clients to facilitate retirement account rollovers from third parties to Edward Jones.

 

According to FINRA records, in 3/2015, White was discharged by Edward Jones after White admitted calling third parties in order to facilitate the rollovers to Edward Jones.

If you have questions about an account handled by Tonya White, call for a no charge consultation.

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

Wesley C. Smith-Former Edward Jones Broker-Barred From Securities Industry

Lumberton, Texas

According to FINRA records,  Wesley C. Smith  a stockbroker  who formerly worked  for Edward Jones discloses  a pending customer dispute, 6 prior customer disputes and one final regulatory event.

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.

Smith discloses  a currently pending customer dispute, in which a customer alleges damages of $9,000 . The client claims she was never given a portfolio review, did not understand that the funds were within an IRA and did not authorize a distribution in 2013. The client alleges she has received a notice from the IRS indicating she owes $9,000.

In one of the prior customer disputes, Edward Jones discloses that in 2015 a customer alleged that Smith had misappropriated funds from the client’s account in November and December 2013 and January 2014. Damages of $5,000 were alleged and , based on the firm’s investigation, the claim was settled for $15,000.

In another of the prior customer disputes, Edward Jones discloses that in 2014 a customer alleged that Smith had misappropriated funds from the client’s account . Damages of $5,000 were alleged and , based on the firm’s investigation, the claim was settled for $9,769.45.

In one other of the prior customer disputes, Edward Jones discloses that in 2014 a customer alleged that Smith had sold the client gold coins but she never received them . Damages of $5,600 were alleged and , based on the firm’s investigation, the claim was settled for $5,600.

In 2/2015, Smith was permanently barred from the securities industry by FINRA.

Smith was employed by Edward Jones from 1/2008-9/2014. 

If you have questions about an account handled  by Wesley C. Smith, call for a no charge consultation.

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