Raymond James Financial Services, Inc. Broker, Vonna Kay Husby, Barred By FINRA For Refusing to Participate In FINRA Investigation Regarding A Bank Account She Allegedly Held With A Customer
Vonna Kay Husby (CRD # 1314070) was a Financial Advisor at Raymond James Financial Services, Inc. in Fairbanks, AK. Vonna Kay Husby has been in the securities industry since 1985 and was also registered at Ameriprise Financial Services, Inc., Morgan Stanley DW Inc., and Shearson Lehman Brothers Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on October 29, 2020, Vonna Kay Husby was barred by FINRA. According to the FINRA sanction:
“Without admitting or denying the findings, Husby consented to the sanction and to the entry of findings that she refused to produce information and documents requested by FINRA in connection with its investigation into whether she served as a power of attorney and opened an undisclosed bank account that she allegedly co-owned with one of her elderly customers. The findings stated that although Husby initially cooperated with FINRA’s investigation, she ceased doing so.”
For a copy of the FINRA sanction, click here
In June 2019, Ameriprise Financial Services, Inc. discharged Vonna Kay Husby alleging she “provided an inaccurate statement to the firm during the onboarding process; and failed to disclose a pending civil litigation on her Form U4.”
In May 2019, Raymond James Financial Services, Inc. discharged Vonna Kay Husby alleging she “was co-owner on a bank account with a customer without providing disclosure to or receiving approval from the firm.”
Elder financial abuse is a growing trend in the financial serviced industry due to the aging baby boomer population. It is estimated that by 2030, baby boomers will control nearly $26 trillion in assets, which inherently creates opportunity for misconduct. The federal government and states have enacted enhanced legislation to address this issue but there is still a lot of work to be done.
For a copy of Vonna Kay Husby’s CRD, click here
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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