Financial Advisor, Jim Rhodes, Of Rhodes Securities, Has Pending Customer Complaint
The Wolper Law Firm is currently investigating claims against Jim Rhodes, a Financial Advisor at Rhodes Securities, Inc. in Fort Worth, Texas. Jim Rhodes has been in the securities industry since 1973 and previously worked at Financial First Securities, a brokerage firm that was expelled from the securities industry.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), two customers filed large dollar customer complaints against Jim Rhodes in 2017. The first customer complaint, filed in January 2017, alleged “breach of fiduciary duty, negligence, and breach of contract.” The matter was settled for $810,000. The second complaint, filed in September 2017, alleges “unsuitable investments, breach of fiduciary duty and failure to supervise.” The alleged damages are $250,000 and the matter remains pending.
To review the entire disclosure history for Jim Rhodes, click https://brokercheck.finra.org/individual/summary/813870#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
If you or someone you know was a customer of Jim Rhodes and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, 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.