Investors might have sustained losses due to securities broker James Daniel McDermott [CRD: 2483480, Oakbrook Terrace, Illinois], based on the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, McDermott was registered with Raymond James Associates Inc. from October 16, 2015, to October 27, 2023, before moving to Osaic Wealth Inc. on October 26, 2023. Continue reading to uncover more about McDermott's disclosures.
Osaic Wealth Inc. investor accused McDermott of violations related to Illinois Securities Law. Specifically, on February 1, 2024, an Osaic Wealth Inc. client filed a written complaint about McDermott. Supposedly, McDermott violated Illinois securities law in purchases or sales of securities in their Raymond James accounts. The complaint is currently pending.
McDermott was discharged for borrowing money from clients. Evidently, Wells Fargo Advisors LLC disaffiliated with McDermott on December 19, 2011. Allegedly, McDermott violated an internal policy of Wells Fargo Advisors in that he borrowed money from two persons who were clients of the firm.
Experienced losses because of James McDermott? If so, reach out to Soreide Law Group or at (888) 760-6552 and speak with a securities lawyer about potentially recovering your investment losses. Soreide Law Group has reclaimed losses for investors across the United States, operates on a contingency fee basis, and fronts all costs. McDermott and the brokerage firms he worked for deny any accusations of sales practice violations.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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