Investors might have sustained losses due to securities broker Mario Joseph Payne [CRD: 5445757, Jacksonville, Florida], according to publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Mario Payne worked for Raymond James Financial Services Inc. from May 3, 2013, to February 12, 2019. Below, you can find important information about the disclosures involving Payne and the allegations investors have raised.
Specifically, on February 11, 2025, a Raymond James Financial Services Inc. client filed FINRA Arbitration No. 25-00298 about Mario Payne. Allegedly, Payne made unsuitable recommendations and misrepresented material facts. Because of this, the client allegedly incurred damages through investing in structured products such as structured notes. Consequently, the client requested $4,000,000 in compensation from Raymond James Financial Services Inc. or Payne. This arbitration is pending a resolution.
Particularly, a client of Raymond James Financial Services Inc. contested Mario Payne’s sales practices by filing FINRA Arbitration No. 24-02064 on September 26, 2024. Allegedly, Payne made unsuitable recommendations and misrepresentations concerning structured products. For this reason, the client seeks compensation from Raymond James Financial Services Inc. or Payne in the amount of $3,000,000.00 in this ongoing matter.
Also, on December 13, 2024, a Raymond James Financial Services Inc. client filed Civil Action No. 16-2024-CA-006818-AXXX-MA about Mario Payne. Supposedly, Payne made misrepresentations about the structured products, recommended illiquid investments, overconcentrated accounts, and made unsuitable recommendations. Because of this, the client requested $5,000,000.00 in compensation from Raymond James Financial Services Inc. or Payne. Evidently, this civil suit is ongoing.
Particularly, on September 26, 2024, a Raymond James Financial Services Inc. client filed FINRA Arbitration No. 24-02065 about Mario Payne. Allegedly, Payne made unsuitable recommendations and misrepresented structured products. Consequently, the client requested $2,000,000.00 in compensation from Raymond James Financial Services Inc. or Payne. Evidently, this arbitration is pending a resolution.
Additionally, a client of Raymond James Financial Services Inc. contested Mario Payne’s sales practices by filing FINRA Arbitration No. 24-02063 on September 26, 2024. Similar to the other disputes, this claim alleged that unsuitable advice resulted in damages. As a result, the client seeks compensation from Raymond James Financial Services Inc. or Payne in the amount of $3,600,000.00 in this ongoing matter.
Are you concerned regarding investments you made with Mario Payne? You can reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery. Soreide Law Group has substantial experience recovering losses for investors throughout the United States. The firm also works on a contingency fee basis and advances all costs. Payne and brokerage firms Payne worked for deny allegations of sales practice violations.
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