Aug 2021-Houston, TX
The FINRA records of Lyle J. Boudreaux, a stockbroker who is not currently registered with any FINRA broker dealer and who was last employed in the securities industry by TCFG Wealth Management, disclose a prior regulatory event related to the sale of exchange traded funds (ETFs), 5 prior final customer disputes 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 12/2020, Texas securities regulators denied Boudreaux’s application for registration to resolve allegations that from 2/2016-4/2017 Boudreaux traded leveraged exchange traded funds (ETFs) in client accounts and cons concentrated the holdings causing significant losses to the clients. As a part of the agreement, Boudreaux has agreed not to reapply with the Securities Commissioner for at least a year from the date of the order.
In 4/2020 a customer of Independent Financial Group was paid $235,000 to settle their FINRA claim which alleged that Boudreaux caused damages as a result of unsuitable investments in ETFs.
In May 2017 a customer of Independent Financial Group filed a complaint alleging that losses were suffered as a result of an ETF position in an advisory account. That matter was settled for $80,000.
In 6/2018 a customer of Independent Financial Group was paid $90,000 to settle a FINRA arbitration alleging that Boudreaux had recommended leveraged ETFs that resulted in financial losses to the account.
In 2/1019 a customer of Independent Financial Group was paid $120,000 to resolve allegations that Boudreaux failed to disclose material information with regard to the sale of an exchange traded fund (ETF) and an alternative investment.
In 11/2018 a customer of Independent Financial Group was paid $155,000 to resolve claims that exchange traded fund investments (ETFs) were inappropriate. FINRA Case 18-378.
Boudreaux worked for TCFG Wealth Management from 2/2020-7/2020. He was with Independent Financial Group from 8/2012-1/2020. Prior to that he worked for Merrill Lynch until he was discharged by Merrill Lynch for failing to update a family member/client’s account record to indicate that the client was deceased and continuing to execute transactions in the account on behalf of the estate prior to obtaining the proper paperwork.
If you have questions about an account in an account handled by Lyle J. Boudreaux , who does business under the dba “LJB Wealth Partners” in Houston, TX, 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.
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