Tag Archives: Raymond James Financial

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

Raymond James Agrees to Return $4.4 Million in Mutual Fund Overcharges

July 6, 2015

Raymond James & Associates  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from July 2009 through December 2014, Raymond James disadvantaged certain retirement plan and charitable organization customers that were eligible to purchase Class A shares without a front-end sales charge but were instead sold Class A shares with a front end sales charge or Class B or C shares with back end sales charges and higher on going fees.

Class A shares typically are subject to a front-end sales charge when originally purchased, and have annual fund expenses, including ongoing distribution and service fees that are typically 0.25percent. The majority of the front-end charge is paid to the selling broker-dealer as a concession.  Investors purchase Class A shares at the applicable Net Asset Value (“NAV”), plus the initial sales charge. Most funds, however, offer certain investors a waiver ofthe initial sales charge associated with Class A shares under certain circumstances.

Class B and C shares typically do not carry a front-end sales charge but have significantly higher fees (typically 1.00 percent) and may be subject to a contingent deferred sales charge .

Some mutual funds offer Class R shares for purchase by retirement plans. Class R shares typically are sold without a front-end sales charge. However,ClassR shares typically have higher fees than Class A shares.

After performing a review in June 2014, Raymond James self reported to FINRA that in over 59,000 transactions, involving over 4,200 accounts, customers were overcharged over $4.1 million. Raymond James agreed to pay restitution of over $4.4 million to the affected customers.

AWC NO. 2015044309001

Raymond James, a subsidiary of Raymond James Financial, is headquartered in St. Petersburg, Florida and has over 3,200 financial advisors nationwide.

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