Investors reportedly complained about securities broker James Edward McArthur [CRD: 2797856, Massapequa, New York], according to public information found on FINRA BrokerCheck. James McArthur worked for IBN Financial Services Inc. from April 1, 2021 to June 17, 2022; Traderfield Securities Inc. from January 9, 2019 to September 25, 2020; and American Portfolios Financial Services Inc. from April 21, 2014 to December 31, 2018. Keep reading to know more about the disclosures involving McArthur.
Specifically, on December 11, 2024, an IBN Financial Services Inc. client filed FINRA Arbitration No. 24-01954 about James McArthur. Supposedly, McArthur breached his fiduciary duty, failed to supervise certain securities brokers, was negligent, and made omissions and misrepresentations. As a result, the client allegedly sustained damages relating to promissory notes. Consequently, the client requested $4,000,000.00 in compensation from IBN Financial Services Inc. or McArthur. Evidently, this arbitration is awaiting a resolution.
Particularly, on November 15, 2024, a Traderfield Securities Inc. client filed FINRA Arbitration No. 24-02237 about James McArthur. Allegedly, McArthur failed to supervise certain securities brokers, was negligent and grossly negligent, breached his fiduciary duty, and made omissions and misrepresentations about promissory notes. Therefore, the client requested $3,600,000.00 in compensation from Traderfield Securities Inc. or McArthur. It appears that this arbitration is pending a resolution.
Additionally, on June 21, 2024, a client of IBN Financial Services Inc. filed FINRA Arbitration No. 24-01339 about James McArthur. Mainly, the investor alleged that McArthur violated FINRA Rules, was negligent, and breached a contract relating to promissory notes. Consequently, the client requested $300,000.00 in compensation from IBN Financial Services Inc. or McArthur. Evidently, this arbitration is ongoing.
Also, a client of A.G. Morgan Financial Advisors LLC disputed James McArthur’s sales practices in FINRA Arbitration No. 24-01336 on June 20, 2024. Allegedly, McArthur violated FINRA Rules, was negligent, and breached a contract. It appears that McArthur caused the client to sustain damages linked to promissory notes. So, the client seeks compensation from A.G. Morgan Financial Advisors LLC or McArthur in the amount of $150,000.00 in this ongoing matter.
Also, on June 18, 2024, a Momentix Capital Inc. client filed FINRA Arbitration No. 24-01335 about James McArthur. Supposedly, McArthur was negligent and breached a contract. Consequently, the client requested $125,000 in compensation from Momentix Capital Inc. or McArthur. It appears that this arbitration is awaiting a resolution.
Additionally, a client of IBN Financial Services Inc. contested James McArthur’s sales practices by filing FINRA Arbitration No. 24-01334 on June 17, 2024. Allegedly, McArthur breached a contract, violated FINRA Rules, and was negligent. It appears that McArthur caused the client to sustain damages linked to promissory notes. Therefore, the client seeks compensation from IBN Financial Services Inc. or McArthur in the amount of $700,000 in this ongoing matter.
Are you concerned regarding investments you made with James McArthur? If so, reach out to Soreide Law Group online or at (888) 760-6552. Speak with a securities attorney about a potential recovery. Soreide Law Group is experienced at recovering losses for investors throughout the country. Also, the firm works on a contingency fee basis and advances all costs. McArthur and brokerage firms McArthur worked for deny allegations of sales practice violations.
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