Broker Charles Weldon Subject Of Multiple Claims Of Unsuitability

Charles Weldon (Charles Raymond Weldon, CRD #1030659 ) is a registered broker and investment advisor currently employed with Independent Financial Group of Boca Raton, FL. His previous employers include Cetera Advisor Networks LLC (CRD# 13572) and Girard Securities, Inc. (CRD# 18697), also of Boca Raton, and Main Street Management Company (CRD# 547), of Fort Lauderdale, FL. He has been in the industry since 1982.

Weldon is the subject of five disclosures on his BrokerCheck records. All five are customer disputes:

Filed on 6/5/2004, this client alleges an unsuitable trading strategy. The client requested damages of $100,000, and the firm settled for $7,500. In the broker comments, Weldon stated that the client was fully aware of the investment strategy and proceeded anyway, the firm settled the claim to avoid the expense and difficulties of protracted litigation, and the firm’s settlement with this client should not be seen as any indication of fault by the firm or by Weldon himself.
Filed on 7/19/2023, this client alleged “breach of fiduciary duty, negligence, misrepresentation and failure to supervise.” The client requested damages of $1,000,000, and the firm settled the dispute for $45,000. No additional information is available, and Weldon did not comment on this dispute.
Filed on 3/14/2023, this client alleged that Weldon’s investments caused them to lose money. The client requested damages of $500,000, and the firm settled the claim for $64,000. In the broker comments, Weldon repeated his statement of the first dispute, denying any fault of the firm or himself.
Filed on 3/03/2023, this client alleged they lost money because of an overconcentration of their portfolio into similarly typed securities. The client requested damages of $5,001.00, and the firm settled this claim for $300,000. In the broker comments, Weldon repeated his statement of the first dispute, denying any fault of the firm or himself.
Filed on 6/1/2015, this client filed a FINRA arbitration action against Girard Securities with allegations of failure to supervise, unsuitable transactions, negligence, and breach of fiduciary duties. The client requested damages of $335,000.00, and the firm settled for $51,452.00. It’s important to note that the arbitration was filed against Girard Securities, and that Weldon was neither named nor involved in this filing. The firm settled the claim to avoid the expense and difficulties of protracted litigation.

None of these disclosures has led to any FINRA disciplinary action, and Weldon remains currently registered as a broker and investment advisor.

Disclosure In A Broker’s Record

Disclosures in a broker’s record list customer disputes and arbitration awards as well as any disciplinary actions from FINRA (suspensions, bars, etc.). Additionally, criminal charges, civil judgments, tax liens, and other significant events related to their professional conduct as a registered securities representative are included.

These records highlight potential issues that could impact a broker’s ability to conduct client business. FINRA makes them publicly available online at FINRA’s free online tool BrokerCheck for anyone to access while conducting due diligence. This is especially helpful if you are considering conducting business with someone new, or if you have concerns about your current or past broker’s activities.

Did You Invest With Charles Weldon?

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