RIAN JOSEPH LOCKETT (BRIAN LOCKETT) CRD#: 4573162, currently registered with INDEPENDENT FINANCIAL GROUP, LLC, of Lynnwood, Washington, was fined $5,000.00 and suspended from all capacities for 45 days, from 12/2/2019 until 1/15/2020.
According to FINRA reports, without admitting or denying the findings, Brian Lockett consented to the sanctions and to the entry of findings that he allegedly participated in a private securities transaction without providing prior written notice to his member firm.
FINRA’s findings stated that one of Lockett’s client’s invested a total of $50,000 in a private placement offering. Lockett allegedly participated in the transaction by introducing the transaction to the client, summarizing the reasons he liked the investment, meeting with the client to review and sign the paperwork, and causing the paperwork to be submitted. Brian Lockett did not receive compensation for his participation in the transaction.
According to FINRA, Brian Lockett allegedly attempted to conceal his role in the transaction by suggesting to the client that the client communicate about the transaction with Lockett in the future via Brian Lockett’s personal email address. After the client complained to the firm, it entered into a settlement to resolve the complaint.
According to FINRA’s BrokerCheck, Brian Lockett, has 10 Disclosures on his CRD report. Of those 10 Disclosures 9 are Customer Disputes all of which have settled. These complaints date back to 2012. Some of the allegations listed were: negligent management of accounts, unsuitable recommendations of investment in oil and gas, breach of fiduciary duty by misrepresentation and omission, and unsuitable recommendations in a penny stock. The significance of Lockett’s FINRA Customer Complaints is underscored in FINRA NOTICE to MEMBERS 03-49. In 2003, FINRA conducted a review of the CRD’s of all 663,000 registered representatives, only 2,751 (.41%) had been the subject of (3) or more customer complaints. Brian Lockett’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints.
Brian Lockett has been in the securities industry for 16 years and was listed with 3 firms. He has been with the following firm since 11/29/2013:
INDEPENDENT FINANCIAL GROUP, LLC
3500-188th Street SW SUITE 102
LYNNWOOD, WA 98037
Lockett was previously registered with:
02/27/2004 – 11/29/2013 GENEOS WEALTH MANAGEMENT, INC – LYNNWOOD, WA
If you’ve also experienced investment losses due to the actions or recommendations of BRIAN LOCKETT of INDEPENDENT FINANCIAL GROUP, LLC, of Lynnwood, Washington, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee and represents clients nationwide before FINRA.