Securities Broker Jason Poff Sanctioned By FINRA, Accused Of Sales Practice Violations By LPL And Chase Clients
Financial Industry Regulatory Authority (FINRA) BrokerCheck, which houses important information about securities brokers, contains new disclosures regarding securities broker Jason Howell Poff (CRD#: 4078570, Houston, Texas). Specifically, FINRA issued Poff a fine and suspension for alleging engaging in outside business activities. Allstate Financial Services, who employed Poff from June 2018 to May 2021, discharged him for this reason. And two investors filed disputes about his sales practices. Here’s a summary of these disclosures.
FINRA Takes Disciplinary Action Against Jason Poff
Notably, FINRA suspended Jason Poff as a securities broker between June 7, 2021, and September 6, 2021, and fined him $5,000 to resolve allegations of his violation of FINRA rules. Specifically, FINRA says that from 2016 to 2018, when Poff worked for LPL Financial, he engaged in outside business activities. It seems that his activities involved Ursus Consulting LLC, which is a Texas-based company that Poff created and owned. Supposedly, LPL Financial rejected Poff’s request to be involved with this company, but Poff did so anyway.
Critically, FINRA says that through Ursus Consulting LLC, Jason Poff was a loan officer. Supposedly, he expected to be compensated for work he performed for a company owned by people SEC charged with fraud. It seems that Poff also did work through Ursus Consulting for someone creating a family investment office. Poff allegedly concealed from LPL Financial that he did outside business activities through Ursus Consulting, as he did not disclose the activities or get approval for them. Also, he failed to disclose his activities in compliance questionnaires. The regulator states that Poff made false attestations to his firm in this respect.
Allstate Financial Services Discharges Poff
In May of 2021, Allstate Financial Services LLC ended Jason Poff’s registration as a securities broker because of Poff being suspended by FINRA. The firm particularly referenced FINRA’s allegations of Poff’s outside business activities.
LPL Financial Client Alleges Unsuitable REIT Transaction By Jason Poff
Evidently, a client of LPL Financial came forward with a dispute about Poff in May 2021. Namely, the client claimed that Jason Poff had them invest in an unsuitable REIT from 2014 to 2021. Because of this, the client asked for compensation. However, LPL Financial denied this dispute.
Jason Poff’s Chase Investment Services Corp Client Alleges Failure To Follow Instructions
Jason Poff worked for Chase Investment Services Corp before joining LPL Financial. In addition, FINRA BrokerCheck shows that a client of Chase Investment Services Corp disputed Poff’s sales practices in October 2008. Mainly, the client contends that Poff failed to follow their instructions concerning a variable universal life insurance policy. It seems that Chase Investment Services Corp paid the client $38,415.23 to settle this matter.
Did You Face Financial Harm Because Of Poff?
Did Jason Poff directly or indirectly cause you to suffer losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped many United States investors recover compensation after incurring losses caused by their financial advisors and securities brokers. Please note that Poff denies all allegations of his sales practice violations.