Advisor Resource Council Ends Employment Relations With Steven Jacobson Amid Alleged Sales Practice Violations

The Financial Industry Regulatory Authority (FINRA), which houses information on securities brokers, reports at least four disclosures regarding securities broker Steven Jay Jacobson (CRD#: 2291673, New Orleans, Louisiana). Specifically, Jacobson’s investment advisory employer – Advisor Resource Council – terminated him as a financial advisor for alleged misconduct. Also, it appears that Raymond James Associates Inc. and Morgan Keegan Company Inc. clients disputed Jacobson’s sales practices. Read on to learn more about these disclosures about the securities broker.

Advisor Resource Council Terminates Steven Jacobson

Evidently, Steven Jacobson was a financial advisor with Advisor Resource Council (360 Wealth Management) between October 2019 and January 2021. It appears that Advisor Resource Council discharged Jacobson in January 2021. The firm alleged that Jacobson did not complete an action plan that the firm issued because of his sales practice violations.

Raymond James Associates Client Alleges Breach Of Fiduciary Duty Relating To Jacobson

Evidently, a client of Raymond James Associates disputed Steven Jacobson’s sales practices, which purportedly resulted in damages to the client. In this December 2019 FINRA Arbitration Claim, the client first alleges breach of fiduciary duty and breach of contract regarding options and structured products. Secondly, Jacobson supposedly misrepresented and omitted information related to the client’s investments through Raymond James Associates.

The client also alleges violation of Louisiana Securities Law and Raymond James Associates’ failure to supervise Jacobson. Moreover, the securities broker purportedly acted with negligence as it pertained to the client’s investments. For this reason, Raymond James Associates opted to settle this dispute by making a $200,000 payment to the client in February 2021.

Steven Jacobson’s Morgan Keegan Client Alleges Misrepresentation

BrokerCheck also shows that a client of Morgan Keegan Company disputed Steven Jacobson’s sales practices. The client alleged that Jacobson misrepresented auction rate securities. Supposedly, the client invested in Jefferson County ARS because of Jacobson and experienced losses. However, Morgan Keegan Company denied this investor’s request for $100,000 in compensation.

Jacobson’s Other Securities Broker Dealer Employers

It appears that Steven Jacobson worked for Smith Barney Inc., JC Bradford Co., UBS Financial Services, Morgan Keegan Company, Raymond James Associates, and most recently, Ameriprise Financial Services Inc. from September 2014 to October 2019. He is not currently registered with a securities firm at this time.

Losses Through Jacobson?

Did you suffer losses because of Steven Jacobson? 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 substantial compensation for hundreds of United States investors who have incurred losses from their financial advisors and securities brokers. Please note that Jacobson denies all allegations of his sales practice violations.

Lars Soreide AVVO 2020 Top Lawyer

CONTACT US