Tag Archives: Janney Montgomery Scott complaint

Jodie LaMarre- Former Robert W. Baird & Co. Broker- Discloses Regulatory Event & Two Settled Customer Disputes-Sarasota, FL

June 2019- Sarasota, FL

According to publicly available records Jodie A. Lamarre (CRD#2127928) ,  a  stockbroker who is currently not registered  discloses a regulatory event and 2 settled 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 February  2018,  without admitting or denying the findings, LaMarre consented to sanctions and to the entry findings that she recommended an unsuitable strategy involving the consolidation of an elderly customer’s assets in a single taxable account without regard to the fact that several of these assets were in tax deferred accounts .  The customer had a total net worth of less that $200,000 and was living on fixed income. As a result of LaMarre’s actions the customer was faced with an increased tax liability. FINRA suspended LaMarre for 1 year suspension and assessed a $10,000 monetary fine. FINRA case 2015046052701.

In December 2016,  a Robert W. Baird & Co., customer filed a complaint that alleged that LaMarre’s poor advice led him to sustain losses related to the purchase of a variable annuity.  The case was settled for $30,000 in 3/2017.

In May of 2015, another Robert W. Baird & Co, customer  alleged that LaMarre gave poor advice regarding distribution/surrender of annuities following the death of client’s husband, causing  unintended negative tax consequences.  This case settled for $10,000.

Lamarre was  employed with Janney Montgomery Scott from February 2015 until November 2017.   Before that she was with Robert W. Baird & Co, from July 2008 until February 2015.

If you have questions about an investment account handled by Jodie Ann Lamarre contact us for a no charge consultation to learn about 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

Jack W. Griffith Jr-Janney Montgomery Broker-Subject of $4.2M Customer Suit Over Energy Investments-Columbia, S. Carolina

June 2018- Columbia, South Carolina

The FINRA records of Jack Wendell Griffith, Jr.  , a stock broker who is employed by Janney Montgomery Scott , disclose  3 pending customer disputes, 2 prior customer disputes,  and an outstanding judgment 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.

Three FINRA arbitrations are currently pending:

  • Case 17-2080-A customer of Janney Montgomery Scott (Janney) seeks damages of $4.2 million and alleges that Griffith recommended unsuitable securities and caused the client’s accounts to be over concentrated in energy investments.
  • Case 18-081-A customer of Janney seeks damages of $200,000 and alleges the Griffith made questionable recommendations and exposed the the client to overconcentration.
  • Case 18-0083- Another customer of Janney seeks damages of $150,000 alleging that Griffith made unsuitable investments in their accounts.

Griffith  has been employed by Janney Montgomery Scott since 1/2014. His securities industry employment prior to that includes Ameriprise Financial and A.G. Edwards.

Brokers have a duty to make recommendations that are suitable, taking into account the age, health, level of financial sophistication, risk tolerance and investment objectives of the customer.

If you have questions about  an account handled by Jack W. Griffith, Jr. , call 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Gerry Maisner-RBC Capital Markets Broker-Discloses Customer Dispute-Westport, CN

April 2018- Westport, CT

The FINRA records of  Irwin Gerald (Gerry) Maisner ,  a  stockbroker who is currently employed by RBC Capital Markets and who was previously  employed by  Janney Montgomery Scott , disclose 4 prior final 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 FINRA arbitration #16-2978, a customer of Janney Montgomery Scott and RBC Capital Markets alleged damages of $250,000 for an unsuitable recommendations in energy bonds. That case was settled for $22,500 in 12/2017.

Gerry Maisner  was employed by Janney Montgomery Scott from 2002-2014. Maisner has been employed by RBC Capital Markets since 12/2014.

If you have losses in an account in an account handled by Gerry Maisner  , contact us for a no charge consultation 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

Scott Palmer- Former Janney Montgomery Broker-Subject of Numerous Customer Suits Involving Energy Sector Investments-Hackensack, NJ

April 2018-Hackensack, New Jersey

The FINRA records of  Scott W. Palmer  ,  a currently unregistered broker who last worked for Janney Montgomery Scott disclose 5 pending and 6 prior customer disputes. Many of these customer disputes allege an overconcentration of energy sector investments.

In April 2018, Palmer refused a FINRA request to appear for testimony in connection with a FINRA investigation into potential suitability violations related to investment recommendations made to customers of Janney Montgomery Scott.  As a result of his refusal to cooperate with the investigation he was barred from the securities industry by FINRA.

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 one of the currently pending FINRA arbitrations-# 18-0413,  a customer of Janney Montgomery Scott alleges that Palmer made unsuitable investments and over concentrated their accounts with energy investments. Damages of $500,000 are alleged.

Palmer was employed by Janney Montgomery from 3/2007-6/2017. In 5/2017 Palmer was permitted to resign from Janney Montgomery Scott due to a loss of confidence related to complaint disclosure history.

If you have losses in an account in an account handled by Scott W. Palmer , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses through FINRA arbitration.

Brokers have a duty to make suitable recommendations to their customers taking into account the age, health, and risk tolerance of the customer.

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

Gabe Block-Former First Standard Financial/NSC/Oppenheimer Broker-Fined $750K by NJ Regulators-Rumson , NJ

May 2019– Rumson, NJ

The FINRA records of Gabriel (Gabe)  Block, a former stockbroker who was last employed by First Standard Financial Co., disclose 4  final regulatory events,3 currently pending customer disputes and 9  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.

NJ Regulators Find That Block Was Dishonest/Unethical

On May 15, 2019, New Jersey securities regulators revoked Gabe Block’s registration and fined him $750,000 for making investment recommendations to clients that were inconsistent with their needs and risk tolerance. The NJ regulator found that Block engaged in dishonest or unethical practices in the securities business by inducing trades designed to maximize commissions for himself, without regard to its suitability for his customers. Block’s preyed upon his customers according to the regulator who cites the following examples of his victims:

  • A 36-year old, quadriplegic construction-accident victim , who had funded his accounts with the proceeds of a legal settlement that were for his medical care and living expenses;
  • A 43-year old, unemployed widow and mother of three children, who had funded her accounts with the proceeds of a legal settlement from a medical malpractice claim from her husband’s death; and
  • a 75-year old, retired, and widowed mother-in-law , who had funded her accounts with her and her deceased husband’s retirement savings.

“Block callously steered his clients towards riskier trades that put more money in his own pocket, instead of recommending securities or an investment strategy that was suitable for investors. This was a pattern of practice that was not only illegal, but made all the more offensive because he preyed on the vulnerable,” said Paul R. Rodríguez, Acting Director of the Division of Consumer Affairs. “The Bureau’s action today sends a clear message that New Jersey will vigorously enforce the law to protect investors from being taken advantage of.”

On March 13, 2018, FINRA permanently barred Block from the securities industry in connection with a complaint filed by the Delaware Investor Protection Unit alleging numerous violations, including:

  • Securities Fraud
  • Churning
  • Dishonest or Unethical practice-Narcotics Use
  • Excessive Trading

FINRA found it not in the public interest, and would create an unreasonable risk of harm to the market and investors for Block to continue to associate with his firm. Block was employed by Janney Montgomery and Oppenheimer during the period of time when activity occurred leading to the regulatory action.

Gabe Block discloses settlement of the following   customer disputes :

  • FINRA Case 18-01038-A customer of Oppenheimer   alleged that Gabe Block made unauthorized and unsuitable purchases of Puerto Rico Bonds in claimant’s account from 2011-2013. The case was settled for $55,000.
  • FINRA Case 15-1551- a customer while Block was registered with Oppenheimer & Co. alleges churning, unsuitability, breach of fiduciary duty in connection with the handling of family accounts. Damages were alleged to be $800,000. The case was settled for $675,000.
  • FINRA Case 15-1550-a customer while Block was registered with Oppenheimer & Co. alleges churning, unsuitability, breach of fiduciary duty in connection with the customer’s account. Damages were alleged to be $100,000. The case was settled for $60,000.
  • Block’s FINRA record discloses two other customer disputes that wereresolved including one in which a customer alleged mismanagement of investments between 9/2005-12//2008, while Block was registered with Janney Montgomery Scott. That case was settled for $375,000.

In 2/2019 a customer of Oppenheimer filed FINRA case 19-0431 alleging that Block made trades and made unsuitable recommendations. The case is currently pending and the customer is seeking damages of $1.4 million.

IIn 3/2019 a customer of First Standard Financial filed FINRA Case #19-0550 alleging that Block made unsuitable recommendations causing losses of $300,000. That case is still pending.

Block  was registered with First Standard Financial  from 3/2016-3/2018. He was registered with National Securities Corporation from 3/2014-4/2016 and with Oppenheimer from 11/2008-3/2014. He discloses a business affiliation with Block Wealth Management in Rumson, NJ.

If you have losses in an account handled by Gabe Block contact us for a no charge consultation to learn how  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

National Toll Free: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870