- August 3, 2019
- Raymond James
John Wyshak (CRD # 1272260) was a Financial Advisor at Raymond James in Los Angeles, CA. John Wyshak has been in the securities industry since 1984 and previously worked at Wedbush Securities.
According to publicy available records released by the Financial Industry Regulatory Authority (FINRA), in June 2019, a customer filed a complaint against John Wyshak, alleging “unauthorized Trading, Suitability, Excessive Commissions, Violations of Industry Standards, Violation of FINRA Rule 2020, NYSE Rule 405, Breach of Fiduciary Duty, Negligent Retention, Fraud, Omission of Material Facts, Conversion, Breach of Contract, Fraudulent Concealment.” The alleged damages are $131,783 and the matter remains pending.
A second complaint was filed against John Wyshak in January 2018, alleging “respondeat Superior, Concentration, Breach of Fiduciary Duty, Fraud, Churning, Failure to Supervise, Omission of Material Facts, Conversion, Breach of Contract, Fraudulent Concealment, Violations of Industry Rules and Standards.” The matter was settled for $700,000.
For a copy of John Wyshak’s BrokerCheck report, click https://brokercheck.finra.org/individual/summary/1272260#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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