Stop the Raymond James Investor Fraud Now
One of the challenges most investors face is not knowing what to do when they have losses in their brokerage or financial advisory accounts. Your financial professional has a legal obligation to offer objective financial advice under the securities industry rule known as Reg. BI. This went into effect two years ago and now the Financial Industry Regulatory Authority (FINRA) is taking aggressive action. FINRA regulates stockbrokers, financial advisors, and their firms.
Raymond James is getting caught up in investor fraud and significant losses for customers based on financial professionals’ looking to make large commissions. They are putting their clients into some of the riskiest and illiquid assets that pay the highest commission.
A good example of this happened recently with a Raymond James financial advisor defrauding a 98-year-old World War II veteran. In a settlement with FINRA last September, Raymond James agreed to pay $500,000 and $1.4 million in restitution to the client’s estate and family.
Things began when a former financial advisor (named Frederick Stow) stole funds from the client’s account for his personal use. A branch manager of one of the offices expressed concern about violating Reg. BI but nothing was done until the money was gone. The advisor was charged criminally and sentenced to five years in federal prison and ordered to pay back Raymond James $1.1 million.
Cases such as this are not uncommon when it comes to Raymond James. FINRA’s records show that Raymond James has 160 disciplinary actions against it, including 84 regulatory events and 64 arbitrations. Many of these cases were for things such as
- Excessive trading
- Making unsuitable recommendations
- Failing to supervise brokers and advisors
- The sale of unapproved and unregistered securities
- Violations of Reg. BI.
These are some of the violations Raymond James has settled with FINRA. They pay a large fine and continue with business as usual.
This is the problem within the securities industry, and you have rights in these situations. The Wolper Law Firm is the Raymond James investor fraud attorney that can help you. We handled cases for investors that have been harmed by failures at the firm to monitor its brokers and financial advisors.
You will work with a skilled Raymond James investment loss attorney. We will stand up and fight for you when it seems like no one else cares. Our team of dedicated professionals cares and will do what it takes to ensure your rights are respected.
FINRA is here to help, and they have regulations guiding what behavior is acceptable among investment firms. We will investigate your case to find out what happened and go over the different options. Contact us now at 954.406.1231 / 800.931.8452 to schedule your free consultation with a skilled and experienced attorney.
Customer Complaints Against Raymond James
Raymond James has a History of Violating FINRA Rules and Regulations
Raymond James has lots of different cases involving brokers and financial advisors who engaged in actions that are illegal and unethical. Raymond James approved these transactions so the firm and its financial professionals increase their profitability.
A recent case of this occurred last October when Raymond James agreed to settle a claim with FINRA involving overcharging customers. Between 2012 and 2020, a team of financial advisors overcharged customers and made changes to the names, designations, and titles of customers. Raymond James agreed to settle these claims by paying fines of $800,000 and $300,000. The firm agreed to pay $49,000 in restitution to settle the case without admitting wrongdoing.
This shows that Raymond James has a track record of wrongdoing and settles these cases so they can get back to business as usual. Our team will investigate your case, gather evidence, and advise you on the best course of action we can pursue.
Raymond James is doing what many of the big Wall Street firms are doing. Anytime FINRA is bearing down on them, they are looking to settle the case without admitting any wrongdoing. They have deep pockets and can afford the best legal services money can buy. Raymond James is not afraid to spend some of these funds on settling cases and limiting the fallout and damage to its reputation.
Our team of dedicated professionals will pursue Raymond James and prevent them from using their deep pockets to take advantage of you. We will point out the violations of FINRA’s rules and prepare to go to arbitration. Arbitration is a form of conflict resolution in the securities industry. FINRA uses it to settle disputes faster and for less money than going to court. You more than likely signed an arbitration agreement when you opened your account with Raymond James.
The Wolper Law Firm can help if you have investment losses or feel you are the victim of fraud. We will investigate and evaluate your case to give you practical and objective legal advice. You will know what options are available and how we can go about holding the financial professional and the firm responsible for their actions.
Contact us now at 954.406.1231 / 800.931.8452 to schedule your free consultation with a Raymond James investment fraud attorney. Customer complaints against Raymond James are rising, and we can help you to hold them responsible for what they did to you.
Why Choose Us?
You need a Raymond James investment fraud attorney that is on your side and willing to fight for you. You work with a skilled attorney that will not stop until we create favorable outcomes for you.
Our firm was founded by Matthew Wolper to level the playing field for ordinary investors. He saw how the big Wall Street firms used their money at the expense of investors. Matthew worked as general counsel for these firms for 14 years and knows their tricks. He uses his knowledge of the securities industry and trial law to give your case the attention it needs.
You will always work with a team of dedicated professionals that will not stop until we get you the maximum settlement under the law. We will investigate your case, gather evidence, and use this to show how FINRA’s rules were violated.
We intend to settle the case before we have to go to arbitration. We are prepared to go to arbitration and use this as leverage to help you to recover the funds you lost. Our firm has a 99% success rate in getting money for wronged investors in the cases we handle. We will put our experience, knowledge, and skills to work for you.
Contact the Wolper Law Firm now at 954.406.1231 / 800.931.8452 to speak with a skilled Raymond James investment loss attorney during a free consultation. We will go over your case and lay out the different options we can pursue to go after the financial professional and Raymond James.
We will have an initial free consultation to go over your case and see if we are a good match. We will move forward once we agree to start a relationship. Our team will file all of the paperwork with FINRA and we will look at the possibility of filing a lawsuit. We will represent you at all of these proceedings and negotiate on your behalf. Our team will advise you on a settlement and whether this is the best offer we can get under the law.
We will need your name, address, the name of the broker/advisor and the firm to start the process with FINRA. They will contact Raymond James and the broker/financial advisor to decide if a violation of the rules occurred. This investigation will determine whether the case moves forward to arbitration. Our team will represent you throughout the process to ensure that everything goes smoothly.
You need to bring your brokerage statements, trade confirmation, recorded calls with your broker/financial advisor, and any responses from the firm. We will look at all of this information and go over your case to decide the best course of action to pursue. A follow-up appointment will be scheduled to go over more specifically what we can do and our strategy for going after Raymond James.
We recommend limiting your contact as much as possible and recording any conversations you have with your financial professional. You want to avoid being confrontational; don’t let them think that anything is wrong. Our goal is to catch the firm and advisor off guard when we are ready to strike by contacting FINRA. The less information they have the more effective we will be in taking them by surprise.
FINRA takes civil action against the firm and investment professional. FINRA can engage in different actions to punish the firm and broker or advisor including fines, suspension, and barring from the securities industry. All criminal complaints are forwarded by the FINRA to the U.S. Attorney. They will investigate; if there is enough evidence, they will charge the individuals responsible separately. This happens after the case with FINRA is settled.
Contact Us Today
You have rights, and we will make sure that they are respected. We have handled hundreds of cases like this and know what to do to get results for you.
Contact us now at 954.406.1231 / 800.931.8452 to schedule your free consultation with a skilled attorney. You have everything to gain and nothing to lose by learning about your options and what you can do.