Financial Advisor Archie Blood Fined & Suspended by FINRA

Archie Blood (CRD#: 1861277) is a previously registered Broker and an Investment Adviser.

Broker’s Background

He entered the securities industry in 1988 and previously worked for Cambridge Investment Research, Inc.; CFD Investments, Inc.; Mutual Service Corporation; and Lowry Financial Services Corporation.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in February 2023, FINRA sanctioned Archie Blood by issuing a civil and administrative penalty of $5,000 and suspending him from all capacities for four months beginning February 6, 2023 and ending June 5, 2023. The FINRA sanction states, “Without admitting or denying the findings, Blood consented to the sanctions and to the entry of findings that he participated in private securities transactions by facilitating the sale of $400,000 of a security to two married couples who were customers of his member firm without providing prior written notice to the firm. The findings stated that Blood introduced the customers to an individual associated with a potential investment in a company that the firm had not approved for sale. The Unit Purchase Agreements for the offering identified the investment interests as unregistered securities. Blood participated in both customers’ investments. After making the initial introductions, Blood sent one of the customers the Unit Purchase Agreement, told his contact that the customers would invest $200,000 and ensured that the necessary funds were wired to complete the investment. In connection with the other customers, Blood provided their information to his contact and provided to his contact a non-disclosure agreement executed by the other customers, which was necessary to complete the investment. The customers each invested $200,000 in the company. Blood’s participation in these transactions was outside the regular course and scope of his employment with his firm. In addition, Blood falsely attested to his firm that he did not assist, advise, or facilitate any private securities transactions.”

For a copy of the FINRA sanction, click here.

For a copy of Archie Blood’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

The Financial Industry Regulatory Authority (FINRA) strictly prohibits financial advisors from “selling away” or selling securities and investments to clients that are not offered by the brokerage firm with which they are employed. For example, it is illegal and a violation of industry rules for a financial advisor to recommend or even suggest that a client invest in the financial advisor’s own business or a business operated by his or her friends or family. It is not necessary that the financial advisor earn any compensation for recommending an outside investment.

The purpose behind this prohibition is to ensure that a financial advisor only offers to sell securities that have been vetted by his or her employer brokerage firm through a rigorous due diligence process. Most brokerage firms have an approved list of investments, products, and research that can be provided or made available to clients. Any deviation by the financial advisor from the approved product list may constitute selling away.

The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]