A Financial Industry Regulatory Authority (FINRA) arbitration panel awarded $1.3 million in damages to a Mississippi investor over the handling of her finances by Lanis Dale Noble, a former broker for Stifel Nicolaus & Co. Inc. The investor also is Noble's former daughter-in-law.
The case was filed in August 2012, accusing Noble with churning, breach of fiduciary duty, and other charges. The charges involved the use of margin and purchasing variable annuities from SunLife and ManuLife, and a Friedman Billings Ramsey real estate investment trust (REIT).
According to FINRA's BrokerCheck, Lanis D. Noble had five disclosures on his BrokerCheck report. Four were for customer disputes and one was a criminal case. Noble is not registered at this time with any firm.
The following is a list of previous registrations:
09/2000 - 11/2013 STIFEL, NICOLAUS & COMPANY, INCORPORATED (CRD# 793) - RIDGELAND, MS
09/1995 - 09/2000 STERNE, AGEE & LEACH, INC. (CRD# 791) - BIRMINGHAM, AL
02/1993 - 10/1995 UNION PLANTERS BROKERAGE SERVICES INC. (CRD# 27348)
09/1991 - 01/1993 PRUDENTIAL SECURITIES INCORPORATED (CRD# 7471) - NEW YORK, NY
08/1987 - 09/1991 DEAN WITTER REYNOLDS INC. (CRD# 7556) - PURCHASE, NY
12/1985 - 09/1987 PRUDENTIAL-BACHE SECURITIES INC. (CRD# 7471)
If you feel your account may been churned by your broker/financial advisor, please call Soreide Law Group for a free consultation at (888) 760-6552. We represent clients nationwide before FINRA.
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