Soreide Law Group has new information to share with you in regard to securities broker Shirley Ellen Washam (AKA Shirley Mazzanti and Shirley Davis) (CRD#: 2166419, Russellville, Arizona). Evidently, six investors complained about her sales practices, and one of those disputes relates to Washam’s actions at Raymond James, where Washam worked as a financial advisor and securities broker from 2013 to 2019. These disputes contain allegations of unsuitability, misrepresentation, and unauthorized activities. Here are the specifics of the disputes regarding this securities broker.
Evidently, a client of Raymond James Associates Inc. contested Shirley Washam’s actions relating to a variable annuity. In this April 2020 complaint, the client alleges an unauthorized sale from March 2019 to April 2020. For this reason, the client asked for compensation. It appears that in December 2020, without admitting any liability, Raymond James compensated the client in the amount of $45,000.
Additionally, a client of Morgan Keegan disputed Shirley Washam’s sales practices, according to a FINRA Arbitration Claim filed against the firm. Supposedly, Washam misrepresented facts concerning the mutual fund investments that the client made at Morgan Keegan. In addition, the client alleges unsuitable mutual fund trading. Generally, suitability concerns risk tolerance, investment objectives, needs, and other important information about an investor. In this case, Morgan Keegan opted to settle by paying the client $45,430.20.
BrokerCheck shows that a different Morgan Keegan client brought a FINRA Arbitration Claim about Shirley Washam. It seems that the client invested in mutual funds that potentially failed to meet their suitability profile. Supposedly, the securities broker made unsuitable mutual fund sales and misrepresentations to the client. Because of this, Morgan Keegan paid $93,000 to the client to resolve this matter.
BrokerCheck shows that following Shirley Washam’s departure at Raymond James, she became an Ameriprise Financial Services securities broker and financial advisor (September 2019 to present).
Did securities broker Shirley Washam cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful 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 Washam denies all allegations of her sales practice violations.
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