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Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking into allegations against Eddie Lyons as noted by FINRA. Lyons was a financial advisor registered with Raymond James & Associates, Inc. He was terminated, in part, due to allegations by his clients that he engaged in unauthorized trading of accounts.
FINRA then initiated an investigation in November 2017. The inquiry was based on several complaints from customers. The allegations ran the gambit of bad acts. These include, but may not be limited to, unauthorized trading.
Other concerns were alleged unsuitable recommendations in various products such as Master Limited Partnerships (“MLPs”) involving the fossil fuel industry. Allegedly Lyons misinformed his clients, or some of them, that MLPs were safe investments and could be viewed as an alternative to bonds. Most experts would agree. Allegedly the pitfalls of MLP investing were also downplayed.
At some point in time during the FINRA investigation, an on-the-record interview was requested by FINRA. Lyons declined to attend, after which he was barred by FINRA which means he can no longer function as a registered representative for a FINRA firm.
According to Lyons’ CRD or official record, he has 10 disclosures or complaints which include:
SSEK has experience in representing customers of financial advisors who either stole their money or stole the money of other clients. SSEK’s experience shows that before a financial advisor begins stealing money, he or she often does other things that are wrong for clients.
These can include actions such as unsuitable investments, churning, unauthorized trading or other broker misconduct. Even after theft is uncovered, those other wrongs often go unnoticed and are never addressed without a customer hiring a law firm like SSEK.
If you were a victim of securities fraud or negligence, it is not your fault. The experienced attorneys at SSEK are experts at FINRA arbitrations and dealing with financial advisors who have fallen under SEC scrutiny.
For the last 30 years, SSEK has filed thousands of FINRA claims on behalf of consumers wronged by unscrupulous brokers and brokerage firms. If you were a client of Eddie Lyons or suspect any sort of wrongdoing from your investment advisor, contact our office for a free, no-obligation consultation of your situation.