Tag Archives: Raymond James Financial problem

Maria Hendershott-Raymond James Financial Advisor-Discloses Numerous Customer Suits-Houston, Texas

May 2019- Houston, Texas

According to publicly available records Maria E. Hendershott (CRD#818681) , a  stockbroker who is currently registered Raymond James & Associates,  disclose 1 pending and 3 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.

The prior disputes include:

  • FINRA Case 17-2601 in which a Raymond James customer alleged that Hendershott grossly mismanaged and churned his account. The case was settled in 9/2018 for $75,000.
  • FINRA Case 16-0784 in which a Raymond James customer alleged that Hendershott made unsuitable recommendations, over concentrated the account, was negligent and violated the Texas Securities Act. The case was settle for $285,000 in 2/2017.

In the pending matter, FINRA Case 18-4029, a customer of Raymond James alleges that Hendershott violated the Texas Securities Act, Texas Fraud Statutes and the Texas Deceptive Trade Practices Act and is seeking damages of $500,000.

Hendershott has been employed by Raymond James since 2/2006.

If you have questions about an investment account handled by Maria Hendershott 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Mark Tudor-Fired by Raymond James-Barred From Securities Industry-Lake Mary, FL

May 2019, Lake Mary, Florida

According to publicly available records Mark Andrew Tudor  ,  a  former stockbroker who last worked for Raymond James Financial  ,  disclose a recent regulatory event barring him from the securities industry, 3 prior customer disputes, and a discharge 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 March 2019 FINRA permanently barred Mark Tudor from the securities industry to resolve allegations that he failed to respond to a request for information in connection with a FINRA investigation.

In December 2018 a customer of Raymond James was paid $40,000 to resolve FINRA arbitration 18-03428 alleging that Tudor had recommended a private securities transaction without the approval or knowledge of the firm.

Tudor, who is owner of Tudor Wealth Management,  was employed by Raymond James from 2/2013 until 10/201 when he was discharged for introducing clients to investments away from the firm without approval and for not being helpful when interviewed by Raymond James counsel.

If you have losses in an account handled by Mark Tudor, call to discuss you options for recovery of damages.

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 D. Williams-Former LPL / Raymond James Broker- Discloses Termination For Discretionary Trading & Customer Suit for Churning- Franklin, TN

March 2019 – Franklin, TN

The FINRA records of Scott Douglas Williams, who is not currently registered as a broker,  disclose  a pending customer dispute 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 2/2019 a customer of LPL Financial filed FINRA case 19-0481 alleging that Williams churned their account and made unsuitable investment recommendations from March 2017-March 2018 , made for the purpose of generating excessive commissions.

Williams was employed by LPL Financial from 2/2017-8/2018. Prior to that Williams was employed by Raymond James from 1/2011-2/2017. In July 2018,  Williams  was discharged from LPL Financial.  In connection with the termination,LPL Financial alleged that Williams “violated the firm policy regarding discretion”.

Discretionary Trading is when a broker makes the trades in a customer’s account without first consulting with the customer. Generally a firm requires that a written agreement be in place in which the customer agrees to permit the broker to trade without consulting with the customer first.

If you have losses in an account  handled by Scott Douglas Williams , 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

 

Terry Fant- Raymond James Broker-Discloses $240k Customer Dispute -Devon, PA

August 2018- Devon, PA

The FINRA records of TerrenceTerry”  Fant,  a stockbroker currently employed with Raymond James & Associates  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 July of 2018,  a Raymond James customer FINRA Case #18-02472 alleging breach of fiduciary duty, fraud, negligence and breach of contract and is seeking damages of $240,000.

Fant has been employed with Raymond James & Associates since March of 2011.    He was previously employed with Boenning and Scattergood, Inc. and with W.R. Hambrect & Co.

Investors with losses in accounts that were handled by Terrence Fant may be able to recover damages through FINRA arbitration, a method of dispute resolution that is typically much shorter in duration and far less costly that court litigation. We typically accept these cases on a contingent fee basis. Call for a no charge consultation.

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 Sibley-Former Raymond James Broker-Subject of Numerous Customer Complaints-Ft. Lauderdale, FL

March 2019-Boca Raton, FL

According to publicly available records Scott Allen Sibley  , (CRD# 1523981) ,  a   former stockbroker who last worked for Moors & Cabot,  discloses 3 prior regulatory events, 1 pending customer dispute, 22 prior final customer disputes,  a termination from employment 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.

In 2015  Sibley was fined $15,000 and suspended for 15 days to resolve allegations by the Florida Office of Financial Regulation that  he made unauthorized trades in a client account.

In April 2017 FINRA permanently barred Sibley from the securities industry and made findings  that Sibley made about 900 securities purchases and sales in customer accounts without the authorization , knowledge or consent of the customers. In addition Sibley caused the customer to carry a margin debit balance without the customer’s authorization, knowledge or consent and over  concentrated the customer’s account in precious metals.

The prior final customer disputes include:

  • FINRA arbitration 17-2277 in which a Raymond James customer alleged negilgence, breach of fiduciary duty, breach of contract and violations of Florida securities laws. That case was settled for $99,000.
  • FINRA arbitration 17-2761 in which a Raymond James customer alleged over concentration, suitability, misrepresentation, exploitation, fraud and other causes of action.  That case was settled for $45,000.
  • FINRA arbitration 15-0881 in which a Raymond James customer alleged exploitation of a vulnerable adult, exploitation of a disabled adult and other claims. That case was settled for $325,000.
  • FINRA arbitration 17-0066-a Raymond James customer alleged damages of $300,000 for negligence, fraud and violations of the Florida Investor’s Protection Act. That case was settled in 2017 for $137,000.
  • FINRA arbitration 16-01493-a Raymond James customer alleged damages of $675,000 for negligence, fraud, unsuitable recommendations, exploitation of the elderly, violations of Florida securities laws and other claims. That case was settled in 2017 for $350,000.

Sibley was discharged by Raymond James in 2/2015 after the firm received multiple customer complaints alleging that the customer’s accounts had been traded without their permission.

Sibley was employed by Moors & Cabot from 3/2015-2/2017 and by Raymond James 11/2007-3/2015.

If you have losses in an  investment account handled by Scott Sibley  , call 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