Janie Garza-Clark Investigation
March 2023-Scottsdale, AZ
According to publicly available records Janie Garza-Clark , a former broker who last worked for TCFG Wealth Management, discloses a final regulatory matter resulting in a permanent bar from the industry, a prior customer dispute and 2 terminations 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 4/2022 FINRA permanently barred Garza-Clark from the industry to resolve allegations that she refused to appear for an on-the-record testimony requested by FINRA. The findings stated that this matter originated from an investigation regarding Garza-Clark’s relationship with a former client, including her potential receipt of cash gifts from that client.
In 6/2020, a a customer of her former employer Hornor Townsend & Kent alleged unsuitability, fraud, breach of contract, breach of fiduciary duty, negligent supervision, violation of Arizona Consumer Fraud Act, Violation of Arizona Securities Act. That case was settled for $290,000.
In 10/2015, a Hornor Townsend & Kent customer alleged that Garza-Clark was sold an annuity and that Garza-CLark explained nothing to them about the transfer penalty and the nine year surrender charges. The case settled for $290,549.
Garza-Clark was permitted to resign from her employment with TCFG Wealth Management in 5/2020, after a full internal investigation was identified that her husband was the trustee of a client’s account established at her previous employment. She accepted personal checks from a client and did not report it on her gift log per company policy.
In 12/2014, Garza-Clark was discharged from her employment with Hornor, Townsend & Kent, Inc. for failure to comply with the policies of the firm and it’s parent insurance company.
Garza-Clark was with TCFG Wealth Management from 7/2017 to 5/2020, Sagepoint Financial from 10/2016 to 7/2017 and Horner, Townsend & Kent, Inc. from 5/1993-12/2015.
If you have suffered losses in an account handled by Janie Garza-Clark, 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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