National investment loss lawyers KlaymanToskes is investigating Robert Starnes of SA Stone Wealth Management Inc. (CRD #1429794).
According to FINRA BrokerCheck, Robert Starnes, formerly of SA Stone Wealth Management Inc., was barred from the securities industry in July 2023 after refusing to appear for on-the-record testimony requested by FINRA in connection with a customer complaint, and is currently facing two customer complaints seeking a total of $188,689 in damages for alleged misconduct involving unauthorized acceptance and misuse of client funds.
Investors that suffered losses with Robert Starnes (SA Stone Wealth Management Inc.) are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
In a recent development, the Financial Industry Regulatory Authority (FINRA) has barred Robert Starnes following his refusal to appear for on-the-record testimony concerning a customer complaint. The complaint had been lodged with FINRA, and despite Starnes’ initial request for an adjournment to consider retaining counsel, he later declined to appear for the scheduled testimony.
Starnes’ refusal to participate in the on-the-record testimony has led to his barring by FINRA. The decision came after he acknowledged receipt of FINRA’s request but declared he would not appear for the testimony at any time. The issue at hand originated from a customer complaint, which has since led to additional scrutiny of Starnes’ professional conduct.
In fact, Starnes has been the subject of two customer complaints in 2023 alone, as per his Central Registration Depository (CRD) report.
The most recent complaint, filed in August 2023, involves a customer alleging that she invested a total of $35,000 with Starnes. She claims to have written a check payable to him, first investing $30,000 in September 2021 and then an additional $5,000 in August 2022. The customer, in her complaint, stated that she requested the liquidation of her investments in April 2023 and expected the funds by the end of May. However, she has yet to receive the funds.
Furthermore, according to her complaint, neither of the companies listed on her statements provided by Starnes have any record of an account for her or of the investment he claimed to have made with her funds. The customer is currently seeking $35,000 in damages, and the case is still pending. This complaint was lodged while Starnes was registered with SA Stone Wealth Management Inc.
Robert Starnes is a financial advisor registered with SA Stone Wealth Management Inc. since 2019. He was recently terminated for violating his firm’s policy/procedure related to acceptance of client funds. Prior to that, he was registered with Quest Capital Strategies, Inc. from 2014 to 2019. In July 2023, FINRA barred him after he “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with this matter, which originated from a customer complaint made to FINRA.”
As an investor, there are a few signs that you should look out for if you believe you may have a claim against Robert Starnes. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage 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 Robert Starnes, or have concerns regarding your investment portfolio at SA Stone Wealth Management Inc., contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.