Securities Lawyers Blog
According to BrokerCheck records financial advisor Lynn Faust (Faust), currently employed by Stifel, Nicolaus & Company, Inc. (Stifel Nicolaus) has been subject to at least three customer complaints and one employment termination for cause during her career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the complaints against Faust concern allegations of unsuitable investments in market linked notes.
In November 2018 a customer complained that Faust recommended investments that violated the securities laws concerning misrepresented market linked notes. The complaint alleges $59,000 in damages and is currently pending.
In October 2018 Faust was terminated by Raymond James & Associates, Inc. (Raymond James) due to allegations that the firm had concerns relating to the nature of advisor’s UIT activity.