Erez Law is currently investigating Raymond James & Associates, Inc. broker Charles Fagan (CRD# 5040887) regarding unsuitable investment recommendations. He has been registered with Raymond James & Associates, Inc. in St Louis, Missouri, since 2011.
Charles Fagan Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
August 2023. “Claimants allege FA concentrated them in unsuitable Ginnie Mae products with long maturity dates to generate higher commissions; misrepresented that the products were short-duration, safe, and that Claimants would receive their principal investment when they needed the funds; and failed to explain the products’ risks to Claimants.” The customer sought $750,000 in damages, and the case was settled for $450,000. The complaint was regarding debt-backed assets and debts.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Raymond James & Associates, Inc. may be liable for investment or other losses suffered by Charles Fagan’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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