Lance Walston In Dominion Investor Suitability Disputes

Lance Walston Involved In Dominion Portfolio Management Client Disputes

Soreide Law Group comes to you regarding investor disputes involving securities broker Lance Colby Walston (CRD#: 4440958, San Antonio, Texas). Namely, the Financial Industry Regulatory Authority (FINRA) BrokerCheck profile for Walston contains six disclosures, all concerning investor disputes. Four of those disputes concern options transactions at Portfolio Management, where Walston worked as a financial advisor representative from 2017 to 2020. Allegedly, Walston engaged in sales practice violations causing damages to investors. Here’s a summary of the disputes.

Lance Walston’s Dominion Portfolio Management Client Alleges Losses On Options Transactions

First, a client of Dominion Portfolio Management came forward in March 2021 with a dispute about Lance Walston. In this FINRA Arbitration Claim, the client alleges that Walston engaged in options transactions that resulted in losses for the client in 2018. For this reason, Dominion Portfolio Management agreed to pay the client $150,000 to resolve this matter in June 2021.

Client Of Dominion Portfolio Management Alleges Unsuitable Transactions

Secondly, a client of Dominion Portfolio Management disputed Lance Walston's sales practices in a March 2020 complaint. Supposedly, when Walston was the client's investment advisor representative, he caused them to incur losses on options transactions. Specifically, from September 2018 to October 2019, Walston allegedly strayed from the client's objectives pertaining to the options transactions. For this reason, Dominion Portfolio Management paid $188,000 to the client to resolve this matter in July 2020.

Lance Walston Allegedly Fails To Invest According To Client’s Objectives

It appears that a third Dominion Portfolio Management client disputed the suitability of Lance Walston’s options trades. In the November 2019 complaint, the client alleges that Walston deviated from their investment objectives in 2018. It seems that inappropriate options transactions resulted in damages to the client. Because of this, Dominion Portfolio Management opted to pay $40,009.42 to settle this investor’s complaint in November 2019.

Dominion Portfolio Management Client Indicates Potential Unsuitable Trading By Walston

BrokerCheck shows that a fourth Dominion Portfolio Management client disputed Lance Walston’s sales practices in 2018. It seems that the client invested in options because of Walston, and these investments were inconsistent with the client’s suitability profile relating to their investment objectives. By failing to invest according to the client's investment objectives in 2018, Walston supposedly caused the client to experience losses. To resolve the dispute, Dominion Portfolio Management paid the client $82,190.82.

Raymond James Financial Services Client Alleges Breach Of Fiduciary Duty, Misrepresentation By Lance Walston

Lance Walston worked for Raymond James Financial Services before working for Dominion Portfolio Management. It appears that Walston’s sales practices were the focus of the client’s dispute against Raymond James. Evidently, Walston acted in breach of fiduciary duty and breach of contract relating to unit investment trust and equities transactions. Also, the client alleges negligence and misrepresentation by Walston regarding investments. Finally, the client asserts that Raymond James Financial Services failed to supervise and violated FINRA rules. Evidently, the client received $11,500 in compensation to settle this dispute in 2015.

Did You Sustain Damages By Investing Through Walston?

Did securities broker Lance Walston cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for United States investors who incurred losses from their financial advisors and securities brokers. Please note that Walston, who currently works for Dominion Investor Services, denies all allegations of his sales practice violations.