South Carolina Broker, Mark Sherman Perry, Suspended by FINRA

Soreide Law Group obtained the following information on FINRA’s November 2017 Disciplinary Report:
Mark Sherman Perry (CRD #1219294, Mt. Pleasant, South Carolina)
was suspended by FINRA for 18 months. Due to Perry’s financial status, no monetary sanction was imposed following allegations that Perry made unsuitable investment recommendations to four elderly, retired clients.
FINRA’s findings stated that Perry over-concentrated the clients’ accounts in precious metal sector securities. According to FINRA, Perry also recommended that the clients purchase and hold leveraged mutual funds and/or ETFs in their accounts for extended time periods of up to 963 days and Perry had no reasonable basis to believe that his recommendation that the clients hold leveraged mutual funds and/or ETFs in their accounts for extended time periods, was suitable for any of the clients.
FINRA alleges that Perry’s unsuitable investment recommendations resulted in collective realized and unrealized losses of approximately $200,000 in the four clients’ accounts.
The findings also stated that allegedly Perry falsified the account records of the elderly clients by misstating each client’s risk tolerance in order to recommend that the client purchase high-risk securities.
Also, FINRA’s findings alleged that Perry sent several emails to a client making misleading and promissory statements about the investments in the client’s account. Perry had no basis for making these statements and admitted that the statements were designed to ease the customer’s anxiety about the investments in his account.
FINRA found that Perry failed to disclose two client complaints regarding trading losses to his member firms. Perry caused his member firm to maintain inaccurate books and records by misstating several clients’ risk tolerance on new account forms, making misleading and promissory statements in written communications with a client and failing to report the two client complaints to his firms.
The suspension is in effect from September 18, 2017, through March 17, 2019.
(FINRA Case #2015044939901)
According to FINRA’s BrokerCheck, which is available to the public, Mark Sherman Perry has 8 Disclosures on his report, five of the Disclosures are listed as Customer Disputes.
Mark Sherman Perry has 23 years of experience in the securities industry and has been listed with 14 firms, the most recent are listed below:
04/20/2015 - 09/10/2015 INDEPENDENT FINANCIAL GROUP, LLC - Mt. Pleasant, SC
03/20/2015 - 04/23/2015 CAMBRIDGE INVESTMENT RESEARCH, INC - Mt Pleasant, SC
04/17/2003 - 03/24/2015 ROYAL ALLIANCE ASSOCIATES, INC - MT. PLEASANT, SC 
If you, or an elderly family member, have suffered losses due to the actions or recommendations of broker, Mark Sherman Perry of Mt. Pleasant, South Carolina, contact Soreide Law Group for a no cost consultation with an experienced securities lawyer regarding the possible recovery of your financial losses at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency fee basis.