Silver Law Group is investigating former Texas-based IMS Securities, INC (CRD#35567) broker Jackie D Wadsworth (CRD#2342163 ) for five pending FINRA arbitrations and a litany of disclosures on her FINRA BrokerCheck report.
According to Wadworths’s FINRA BrokerCheck report, she has five pending FINRA arbitrations filed in the past that allege unsuitable recommendations, failure to supervise, fraud, breach of duty of loyalty, and negligence for an aggregate amount of over $7.1 million.
FINRA’s BrokerCheck tool is a valuable way to examine a broker’s background. The investor tool discloses FINRA arbitrations that have been settled, are pending or have been denied; bankruptcies, civil judgments and tax liens, employment separations and other discharges, criminal proceedings, and regulatory actions. According to an InvestmentNews report, only about 12 percent of financial advisors have any type of disclosure events on their records.
Wadsworths has 9 disclosures on her FINRA BrokerCheck report. That is a large number of disclosures by any measure, but especially high in light of the InvestmentNews report.
Those 9 disclosures are a mix of different FINRA arbitrations and regulatory actions.
Wadsworth alleged misconduct includes, misrepresentation, fraud, breach of fiduciary duty, civil conspiracy and negligent supervision.
The misrepresentation or omission of material facts concerning investment recommendations by a brokerage firm and its representatives may be a cause of action in a FINRA arbitration claim for damages. There are two types of misrepresentations and omissions: those that are fraudulent and those that are negligent.
Misrepresentations often occur during the offering process or prior to investing in a particular product. Misrepresentation can vary in appearance and, if made intentionally, are often times made in order to induce an unwitting investor to invest. An example of a misrepresentation can include promises of high dividends or that the company of the underlying investment will go public in a year.
IMS Financial Advisors Inc had employed Wadsworth since October of 1993 at its Houston, Texas branch. Wadsworth was also employed by Acumen Securities from 2010-2011.
If you have invested with Jackie D Wadsworth and IMS Financial Advisors and have lost money doing so, you may be able to recover some or all of your losses. Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll free at (800) 975-4345.