MARIO JOSEPH PAYNE was previously registered as a broker and is currently registered as an investment advisor.Payne was previously listed as a broker with RAYMOND JAMES of Jacksonville, Florida, from 05/03/2013 - 02/12/2019. According to the SEC website, Payne is now listed as an investment advisor with TOAMS FINANCIAL of Jacksonville, Florida.
According to FINRA’s BrokerCheck, available on FINRA’s website to the public, MARIO JOSEPH PAYNE has been in the securities industry for 11 years and has been listed with 2 firms. Payne has 6 disclosures on his FINRA CRD report. All 6 disclosures are “Customer Disputes,” 2 were denied and 4 are pending. Three of the disputes were filed in September of 2024 and the fourth was filed in January of 2025. All four customer complaints combined are asking for a total of $13.6 million. The most recent complaint alleges, “Claimants allege FA improperly engaged in a high-risk, illiquid, complex, and unsuitable investment strategy that concentrated them in structured products such as structured notes, and they also allege the products were misrepresented as safe, guaranteed, and insured.” The damage amount requested is $5,000,000.00. Another complaint listed against MARIO JOSEPH PAYNE dated 9/26/2024 alleges, “Claimants allege FA improperly engaged in a high-risk, illiquid, complex, and unsuitable investment strategy that concentrated them in structured products such as structured notes, and they also allege the products were misrepresented as safe, guaranteed, and insured. Allegation Activity Dates: 05/03/2013 - 02/08/2019.” The amount of damage requested is $3,600,000.00. The remaining 2 “Customer Disputes” have similar allegations and were both filed in September of 2024. One is asking for damages of $3,000,000.00 and the other is asking for $2,000,000.00.
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