Former MSI Financial Services Financial Advisor, Benjamin Louder, Jr., Barred By FINRA After Failing To Comply With Investigation Into Alleged Unfair And Deceptive Trade Practices and State Securities Fraud
Benjamin Louder, Jr. (CRD # 3014106) was a Financial Advisor at MSI Financial Services, Inc. in Charlotte, NC. Benjamin Louder has been in the securities industry since 1998 and previously worked at Metropolitan Life Insurance company and Jeffrson Pilot Securities Corporation.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2019, Benjamin Louder was barred by FINRA for refusing to “appear for on-the-record testimony requested by FINRA during the course of an investigation that began after it learned of investor-related civil lawsuits disclosed in amended Form U5s submitted by his former member firm. The findings stated that the civil lawsuits alleged unfair and deceptive trade practices and state securities fraud regarding investments in fictitious entities.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2017054137001%20Benjamin%20B.%20Lowder%2C%20Jr.%20CRD%203014106%20%20AWC%20va.pdf.
In addition, Benjamin Louder has been the subject of seven customer complaints during his career, including the following:
- July 2019 – “Plaintiffs alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendation to invest in private securities commencing 2012.” Alleged damage are $25,000.01, and the matter is currently pending.
- March 2019 – “Plaintiff alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendation to invest in private securities commencing 2005 and 2016.” Alleged damage are $25,000.01, and the matter is currently pending.
- January 2019 – “Plaintiffs alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding an investment into a fictitious entity, in 2008, approximately.” Alleged damage are $25,000.01, and the matter is currently pending.
- December 2018 – “Plaintiffs alleged Unfair and Deceptive Trade Practices and State Securities Fraud regarding the advisor’s recommendation to invest in private securities commencing 1999.” Alleged damage are $25,000.01, and the matter is currently pending.
For a copy of Benjamin Louder’s CRD, click https://brokercheck.finra.org/individual/summary/3014106#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.
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