Noel Vincent Investigation-June 2021–Houston, Texas
According to publicly available records Noel Ray Vincent, (CRD# 1370987) , a stockbroker who is not currently registered , who formerly worked for Madison Avenue Securities and Investors Capital Corp. and who is managing director of Senior Partners Private Wealth Management , disclose a prior final regulatory matter, 4 pending customer disputes , 20 prior final customer disputes and a currently outstanding IRS lien.
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 currently pending arbitrations include:
- FINRA Case 21-9755- a customer of Madison Avenue Securities seeks damages of $100,000 for unsuitable recommendations related to the purchase of multiple alternative investments.
- FINRA Case 18-4130 filed in 12/2018: a customer of Investor’s Capital and Madison Ave Securities seeks damages of $100,000 alleging misrepresentation, fraudulent concealment and other claims related to the purchase of alternative investments.
- FINRA case #18-3702- a customer(now deceased, action brought by estate) of Investors Capital Corp. alleges fraudulent concealment, fraud and other causes of action related to the purchase of a real estate security and seeks damages of $100,000.
- FINRA case #18-0701-a customer of Investors Capital Corp and Madison Avenue Securities alleges that the alternative investments, including REITs, recommended were unsuitable and seeks damages of $295,000.
- FINRA arbitration 17-0029 a customer of Investors Capital Corp. is seeking damages of $500,000 for misrepresentations, breach of fiduciary duty and other claims related to the purchase of alternative investments during the period 2005-2008.
In FINRA case #17-03104- a customer of Madison Avenue Securities alleged misrepresentation and unsuitable investments and was paid a settlement of $125,000.
In FINRA arbitration 17-0818 a customer of Madison Avenue Securities sought damages of $75,000 , alleging that United Development III and UDF IV were sold to him without Vincent performing adequate due diligence and that it was negligently misrepresented. That case was settled in 1/2018 for $19,000.
In FINRA arbitration 15-0037, a customer of one of Vincent’s prior employers, Investors Capital Corp. , sought damages of $413,000 for unsuitable investments in oil & gas investments and real estate securities made between 2006 and 2009. That matter was settled for $125,000.
Vincent discloses an outstanding tax lien in favor of the Internal Revenue Service in the amount of $170,000, filed in Harris County, Houston.
Vincent was employed by Madison Avenue Securities from 11/2009-4/2018. For a short period of time he was employed by Ele Wealth Advisors (6/2018-8/2018). He was employed by Investors Capital Corp. from 9/2001-11/2009. Vincent discloses a business affiliation with Senior Partners Tax & Accounting Service in Houston.
Madison Avenue Securities Sanctioned for Misleading Consolidated Reports
According to FINRA records, in 2016 Madison Avenue Securities was censured and fined $75,000 by FINRA to resolve allegations that the firm had an inadequate supervisory system in place which allowed registered representatives to prepare and distribute consolidated reports that did not allow for adequate verification of asset valuation, thereby misleading customers.
If you have suffered losses in an account handled by Noel Ray Vincent, contact us for a no charge consultation 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.
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