JEFFREY DROST RAYMOND JAMES INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Investigates Ex-Raymond James Broker in Light of Potential Unauthorized Borrowing Allegations

October 19, 2021

Jeffrey Drost Raymond James Investment Losses? Ex-Broker Barred by Securities Industry as FINRA Investigates Potential Unauthorized Borrowing

National investor fraud law firm, KlaymanToskes, has commenced an investigation (“Jeffrey Drost Raymond James Investigation”) into former Raymond James broker Jeffrey Travis Drost (CRD#4489021, San Antonio, TX) in light of a disciplinary bar disclosed by FINRA. In August 2021, FINRA barred Jeffrey Drost from the securities industry.

Jeffrey Drost Raymond James Investigation and August 2021 FINRA AWC

According to a FINRA Letter of Acceptance, Waiver and Consent, the financial regulator barred former Raymond James broker for his refusal to produce outstanding information or documents requested by FINRA. The FINRA requests relate to its investigation into potential unauthorized borrowing from customers.

Brokerage firms are responsible for the supervision of all the activities of its financial advisors. FINRA rules require the supervision of financial advisor as well as compliance with the securities industry standards of care for the handling of customer accounts as reflected in brokerage firm compliance manuals. The financial brokerage firm compliance manuals provide written procedures designed to achieve compliance with security industry rules and regulations by financial advisors of the firm.

Ex-Raymond James Broker Jeffrey Drost Discharged from Firm in April 2021

According to BrokerCheck, Raymond James discharged Jeffrey Drost for obtaining loans from clients, including family member clients, without disclosure or prior approval in violation of firm policy and industry rules. Moreover, according to the FINRA AWC, without admitting or denying the findings, Drost consented to the sanction of a securities bar, and to the entry of findings that he refused to provide information and documents requested by FINRA. The findings stated that FINRA requested that Drost provide information and documents in connection with FINRA’s investigation of Drost’s potential unauthorized borrowing from customers.

Registration History of Jeffrey Drost

Jeffrey Drost was registered with Raymond James Financial Services, Inc. (Victoria, TX) from March 2017 to April 2021. His other prior registrations include Ameriprise Financial Services (San Antonio, TX) from February 2015 to March 2017.

Lose Money Investing with Jeffrey Drost (San Antonio, TX) at Raymond James?

Former customers of ex-Raymond James broker Jeffrey Drost with investment losses that exceed $100,000, and those who may have information relating to the manner in which the broker handled their accounts, are encouraged to contact Lawrence L. Klayman, Esq., at (561) 542-5131.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KlaymanToskes has recovered more than $220 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.



Lawrence L. Klayman, Esq. (561) 542-5131