National investment loss lawyers KlaymanToskes is investigating broker Jonathan Best a/k/a John Earl Best (CRD# 2225091), formerly of Raymond James Financial Services.
According to FINRA BrokerCheck, broker Jonathan Best formerly of Raymond James Financial Services has been suspended by FINRA in connection with allegations of unauthorized trading in a customer account and submitting two false compliance attestations. FINRA found that between December 2017 and December 2019, while he was associated with Raymond James Financial Services, Inc. Jonathan E. Best violated FINRA Rule 2010 by effecting 71 unauthorized trades in the account of a senior customer with diminished capacity.
Investors that suffered losses with broker Jonathan Best 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.
Financial advisor Jonathan Earl Best, formerly associated with Raymond James Financial Services, has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”). Best was named in a FINRA complaint alleging that Best effected trades in a senior customer’s account without first obtaining the customer’s required authorization or consent, or the authorization or consent of someone authorized to act on the customer’s behalf. The complaint alleges that the customer was the only person authorized to transact in the account, and it was non-discretionary. Further, Best’s member firm prohibited discretionary trading in retail brokerage accounts, including the customer’s account.
In January 2018 and January 2019, Best falsely attested “no” to Raymond James’ question asking if he had “any senior investors or other vulnerable adults for which [he 3 was] concerned with their capacity to make sound decisions.” Best’s attestations were false because he allegedly knew since at least October 2014 that Customer A could not understand or authorize trades for her account due to her diminished capacity.
Best consented to sanctions of being suspended from association with any FINRA member in all capacities for three months, a fine of $12,500, and to pay disgorgement of $10,760.88 plus prejudgment interest. Best was registered with Raymond James in Henderson, TX, and has since been registered as an investment advisor with Jaffe Tilchin Investment Partners.
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 Jonathan Best a/k/a John Earl Best, or have concerns regarding your investment portfolio at Raymond James Financial Services, 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.