INVESTOR ALERT: Complaints Filed Against J.J.B. Hilliard Brokers John Gordinier, Stephen Provost

J.J.B. Hilliard, W.L. Lyons, LLC (CRD#: 453, Louisville, Kentucky) is both a Financial Industry Regulatory Authority (“FINRA”) member brokerage firm and Securities Exchange Commission (“SEC”) regulated investment advisory. Notably, the firm made 65 disclosures on FINRA BrokerCheck. Apparently, 34 of those disclosures concern regulatory actions alleging the firm violated securities laws or industry rules. 31 disclosures concern investment-related arbitration actions where the firm in most cases was ordered to compensate customers for committing sales practice violations.
Moreover, the firm’s brokers have disclosed customers complaints that either settled without the firm’s admission of liability or are pending resolutions. For example, take a look at disclosures of John Gordinier and Stephen Provost:

Customer Files Arbitration Alleging John Gordinier’s Negligence, Unsuitable Oil & Gas Trading

John Dunn Gordinier (CRD#: 2363965, Louisville, Kentucky) has been a J.J.B. Hilliard, W.L. Lyons general securities representative since August 9, 1993. Apparently, one of John Gordinier’s customers took aim at his sales practices by filing FINRA Arbitration #18-00035 on January 2, 2018. First, the customer claimed that John Gordinier was negligent in carrying out transactions in the customer’s account. Secondly, John Gordinier allegedly violated a fiduciary duty to the customer. Thirdly, the customer claimed J.J.B. Hilliard, W.L. Lyons failed to supervise John Gordinier.
Fourthly, John Gordinier allegedly breached a contract under which the customer and the firm were parties. Finally, the customer contended that John Gordinier made unsuitable trades of energy investments including oil and gas products. Supposedly, the firm and the broker committed these sales practice violations from 2014 to 2017. As a result, J.J.B. Hilliard, W.L. Lyons opted to settle the customer’s claim. Accordingly, on December 18, 2018, the firm agreed to pay the customer $100,000.00.

Stephen Provost Subject Of Arbitration Action Alleging Unsuitable Equity Transactions

Stephen Bishop Provost III (CRD#: 1054670, Evansville, Indiana; Marion, Illinois) joined J.J.B. Hilliard, W.L. Lyons as a financial consultant on July 22, 1982. Apparently, he reported on his FINRA BrokerCheck Report that a customer contested his sales practices. Allegedly, in FINRA Arbitration #17-00540 filed March 6, 2017, the customer alleged Stephen Provost gave bad investment advice. Specifically, from March 9, 2012 to October 12, 2016, Stephen Provost allegedly unreasonably advised the customer to hold equity investments. Because of Stephen Provost’s recommendations, the customer supposedly incurred losses. Therefore, J.J.B. Hilliard, W.L. Lyons settled the customer’s unsuitability claim by paying the customer $32,500.00. Accordingly, this matter concluded November 7, 2017.

If you have incurred losses by investing with J.J.B. Hilliard, W.L. Lyons brokers John Gordinier or Stephen Provost, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.