According to the Financial Industry Regulatory Authority, Inc. (FINRA) public records, broker Noel Ray Vincent has fourteen disclosed customer disputes. FINRA registers and regulates brokers and brokerage firms.
While five claims filed between 2008 and 2010 were denied, four claims filed between April 2013 and April 2017 settled for collective recoveries to his customers of over $257,000. Additionally, five claims filed between January 2017 and March 2018 are pending and request alleged damages of almost $1,000,000.
Claims allege Vincent’s customers suffered losses from misconduct that includes recommending unsuitable investments to customers. Some of the types of products customers claim were unsuitably recommended to them include oil and gas investments, annuities, and real estate securities.
Noel Vincent was employed by Madison Avenue Securities, LLC from November 2009 through April 2018. In 2009, a State of Texas securities regulator fined Vincent $25,000 for allegedly failing to have a customer complete certain forms and then having an administrative assistant fill in missing information without the customer’s authorization.
Brokers have a duty to recommend only suitable investments to their customers. Suitability is based on factors such as a customer’s age, investment objectives and experience, risk tolerances, and financial status and needs. Brokerage firms have a duty to reasonably supervise their brokers, which includes ensuring the brokers do not recommend unsuitable investments. When those duties are violated, customers of brokers and brokerage firms have the right to claims for their losses.
If you suffered losses in while investing with Noel Vincent, Marquardt Law Office LLC is interested in speaking with you. Contact the firm to speak to a securities attorney and get a free case evaluation.
Marquardt Law Office LLC is a securities law firm that represents investors nationwide who have suffered losses due to misconduct such as fraud and negligence.
Information about Noel Ray Vincen was based on his FINRA BrokerCheck records accessed on June 11, 2018.