National investment loss lawyers KlaymanToskes is investigating broker Mario Payne of TOAMS Financial (CRD #5445757).
According to FINRA BrokerCheck, Mario Payne of TOAMS Financial, and formerly of Raymond James, is facing five pending investor complaints alleging that he engaged in a high-risk, illiquid, and unsuitable investment strategy while misrepresenting structured products as safe investments. The investors are seeking collective alleged damages of $17,600,000.
Investors that suffered losses with broker Mario Payne are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Mario Payne, a financial advisor from Jacksonville, Florida, is facing several complaints from investors. According to the SEC’s AdviserInfo, Payne is currently registered as an investment advisor with TOAMS Financial, and previously worked with Raymond James Financial Services and Edward Jones. In September 2024, three customer complaints were filed against Payne. These complaints allege that Payne improperly engaged in a high-risk, illiquid, complex, and unsuitable investment strategy that concentrated the investors in structured products. The investors further allege that the investments were misrepresented as safe, guaranteed, and insured. In 2025, two additional customer complaints were filed involving Payne. The five pending customer complaints allege $17,600,000 in collective damages due to a high-risk investment strategy that concentrated the investors in structured note investments.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Mario Payne, or have concerns regarding your investment portfolio at TOAMS Financial, Raymond James, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.