Jeffrey Alan Fladell Suspended by FINRA

Soreide Law Group obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions” for May of 2021:
Jeffrey Alan Fladell (CRD #209278, Boca Raton, Florida)
According to FINRA, on March 25, 2021, an Acceptance, Waiver and Consent (AWC) was issued in which Jeffrey Alan Fladell was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. (Beginning April 5, 2021, ending on July 4, 2021)
Without admitting or denying FINRA’s findings, Jeffrey Alan Fladell consented to the sanctions and to the entry of findings that he allegedly made unsuitable recommendations to a client, a senior over 100 years old, which resulted in her extreme over-concentration in high-yield municipal bonds.
FINRA’s findings stated that the client was the trustee for two conservative trust accounts at Fladell’s member firm. One trust account was for the client and the other was for the benefit of her sister-in-law, who was also a senior. Both accounts had the most conservative investment objective with a low-risk tolerance.
According to FINRA, despite the volatility of the municipal bond market at the time, Jeffrey Alan Fladell allegedly repeatedly recommended that the client invest in high-yield municipal bonds. FINRA states that 86 percent of the client’s holdings and 100 percent of her sister-in-law’s holdings in the conservative trust accounts consisted of risky, high-yield municipal bonds.
(FINRA Case #2017054432701)
According to FINRA’s BrokerCheck, Jeffrey Alan Fladell has been in the securities industry for 45 years and has 14 Disclosures on his CRD report. Ten of the Disclosures are “Customer Disputes” dating back to 1987.  All disputes have settled ranging in settlement amounts from $24,000.00 to $1,400,000.00.  Some of the allegations listed were, “Customer alleges unsuitable recommendations of Puerto Rico bonds, in period July 2009 to 2014, and, Claimant alleges investments in municipal bonds were unsuitable and over-concentrated and her account was churned, in the period 2013 to the present. ”
Jeffrey Alan Fladell has been registered both as a broker and as an investment advisor. Fladell has been listed with 7 firms, the most recent listed below:
10/09/2009 - 12/31/2017  RBC CAPITAL MARKETS, LLC - FLORHAM PARK, NJ
If you or an elderly loved one have experienced financial losses due to the actions or recommendations of the former broker with RBC Capital Markets of Florham Park, New Jersey, Jeffrey Alan Fladell, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.
CONTACT US