Tag Archives: Raymond James Financial complaint

Kelly G. Richards-First Allied Securities Broker-Discloses Customer Dispute-Phoenix, AZ

September 2017-

The FINRA records of  Kelly Gene Richards , (CRD 4918409),   a  stockbroker who is currently  employed by  First Allied Securities, disclose a  currently pending customer dispute and a prior 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 #16-01743 a customer of Capital Investment Group seeks damages of $650,000  and alleges misrepresentation, fraud, negligent supervision and breach of fiduciary duty in connection with membership units in certain investments promoted by Richards & Graham.

In 8/2010 Richards was discharged from JPM Chase Bank who made the following allegation on his FINRA record: “Terminated by affiliate bank. Non securities related. Overall job performance including violating bank related procedures”. 

Richards has been registered with First Allied Securities since 4/2015. His prior employment includes Raymond JamesCapital Investment Group and Chase Investment Services. Richards discloses a business affiliation with RG Capital of Phoenix, AZ .

If you have questions about an account handled by Kelly G. Richards, 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 

 

Billy Jack Cowan-Former Raymond James Broker-Discloses Customer Dispute & Termination From Employment-Norman, OK

May 2017-Norman, OK

The FINRA records of  Billy Jack Cowan  ,  a  former stockbroker who is not currently  registered disclose  a regulatory event, 2 prior customer disputes, 2 terminations from employment and 8 prior financial events.

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 July 2015 Cowan was censured by the Oklahoma Department of Securities for using discretionary power in a customer’s account without prior written authorization while employed by Raymond James Financial Services.

In FINRA Case 15-0725, a customer of Raymond James Financial Services  alleged damages of $707,188 claiming that Cowan had misclassified their suitability profile, failed to disclose trading risks and engaged in excessive and unauthorized trading from 2006-2014. That case was settled in 3/2017 for $75,000.

In 12/2014 Cowan was discharged by Raymond James who made the following allegation on his FINRA record: “Violation of the firm’s discretion and limited trading authorization policy for using discretion in an account without written authority to do so and for violating the firm’s communications with the public-electronic communications policy, for using text messaging for a business purpose.”

Cowan discloses 8 settlements with credit card companies where outstanding balances were settled for  compromised amounts.

Billy J. Cowan was employed by Raymond James from 2/2006-12/2014 .

If you have questions about an account  handled by Billy J. Cowan  call for a no charge consultation.

Discretionary Trading

Discretionary trading is when a broker makes trades (buys  or sells)  in an account without first consulting the customer. This means the broker decides how much of an investment to buy or sell and at what price, without input from the customer. Firms generally require that permission to trade an account in such a manner must be granted, in writing, by the customer to the firm.

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

Jeffrey J. Drapala-Raymond James Broker-Discloses Customer Dispute-Delray Beach, FL

February 2017-Delray Beach, FL

According to publicly available records Jeffrey J. Drapala , (CRD# 1674124) ,  a   stockbroker who is  currently employed by Raymond James Financial Services discloses 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 pending FINRA arbitration 16-3318, a customer of Raymond James alleges damages of $250,000 for breach of contract, suitability and failure to supervise in connection with an investment in listed equities.  

Jeffrey J. Drapala  has been employed by  Raymond James since 1/2002.

If you have losses  in an account handled by Jeffrey J. Drapala, call to discuss 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

Donald Watson-Former Jeffrey Matthews Broker- Discloses Discharge from Employment

November 2016-Sarasota, FL

The FINRA records of  Donald Lee Watson ,  a  former stockbroker with Jeffrey Matthews Financial Group,  who is not currently  employed disclose a prior customer dispute that has been resolved and two terminations 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.

Watson’s FINRA record discloses that on 1/5/2015 he was discharged by FirstTrust LLC. The company made the following allegations in connection with the discharge: “Disregard for compliance procedures. Failure to repay debt to company. Donald Watson did not comply with requests for personal securities transaction reports and repeatedly violated email compliance protocols. Furthermore, Watson collected a 4-month series of loan payments secured by his personal and unconditional guarantee. He is now disputing the loan and expressing his intent to default.”

His record further discloses that on 12/15/2015, Watson was discharged by The Jeffrey Matthews Financial Group who made the following allegations in connection therewith: “Don Watson (DW) alleged he produced over $700k/yr in gross production at his prior employer. He produced a W2 as evidence to Jeffrey Matthews (JM). JM relied on his assertion adn W-2 as the basis for issuing a corporate advance of $200K. While employed at JM from 9/29/15-12/15/15 DW did not transition any client assets to the firm and had no gross production. DW misrepresented the W2 information as production-related, but JM subsequently learned it was not. In addition, we learned DW’s client spreadsheet presented to JM was also fraudulent.”

Jeffrey Matthews Financial Group filed a FINRA arbitration against Watson seeking recovery of the $200,000 advance plus costs and fees. In November 2016, a FINRA arbitration panel ordered Watson to pay the company $260,000. FINRA Case 16-0548. 

Watson’s prior employment in the securities industry includes:

  • Stifel, Nicolaus & Co.
  • International Assets Advisory
  • PNC Investments
  • LPL Financial
  • UVest Financial Services Group
  • Raymond James Financial Services

 

If you have losses in an account in an account handled by Donald Watson , contact us to discuss how you may be able to recover damages for those losses.

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

Mark S. Garfinkel-Oppenheimer Broker, Boca Raton-Discloses Customer Disputes and Bankruptcy Filing

August  2016-Boca Raton, Florida

The FINRA records of Mark S. Garfinkel ,  a  stock broker who is currently employed  by Oppenheimer & Co.  , disclose  five prior  customer disputes and and one financial 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.

Garfinkel’s prior customer disputes include:

  • New York Stock Exchange Case#2002-010633-In which a customer of Garfinkel’s prior employer, Morgan Stanley, alleged damages of $435,000 for common law and statutory securities violations. That case was settled for $95,000.

Garfinkel discloses the filing of a Chapter 7 personal bankruptcy proceeding in 9/2010 in U.S. Bankruptcy Court Southern District of Florida.

Garfinkel has been employed by Oppenheimer & Co. at 4855 Technology Way, Suite 400,  Boca Raton, FL, since 11/2013.   Garfinkel’s  prior employment includes:

  • Raymond James, Jupiter, FL                     2/2013-11/2013
  • Morgan Keegan, Jupiter, FL                      8/2010-2/2013
  • Morgan Stanley SB, Boca Raton             6/2009-8/2010
  • Citigroup Global Mkt, Boca                       4/2005-6/2009

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