As an investor, wouldn’t you want to know if your chosen financial advisor has recently faced complaints associated with investment losses? The tale I bring to you today involves Phoenix-based financial advisor, John Chaney, who stands accused of rendering unsuitable investment advice leading to investor losses.
Wouldn’t you, as a prudent investor, be curious to know whether your chosen financial advisor has been under scrutiny for their professional conduct? Especially when it concerns investment advice that may not align with your financial interests. The tale I’m about to unfold pertains to John Chaney, a Phoenix-based financial advisor, who is in the limelight for alleged unsuitable investment advice.
The Broker: John Chaney
Table of Contents
Mr. Chaney is a recognized figure in the brokerage realm, operating under Chaney & Associates. His business association is cemented with Moloney Securities, as corroborated by the Financial Industry Regulatory Authority (FINRA) records.
The Allegations Piled Against Him
Earlier this year, in May 2023, a complaint was directed at Moloney Securities, casting a shadow over Mr. Chaney’s advisory practices. The complainant asserts that:
- Chaney recommended inappropriate corporate bond investments.
- There was negligence on his part while managing these investments, with roots traceable to 2019.
Do you know about FINRA Rule 2111, the suitability rule? This crucial regulation dictates that financial advisors, like Chaney, are obligated to:
- Recommend only those investments and strategies that resonate with a client’s objectives.
- Align advice with a client’s profile.
Does it make you wonder how often advisors diverge from these guidelines? The alleged damages in this scenario amount to a staggering $50,000. Mr. Chaney, however, was quick to retort, stating, “I refute the allegations of the claims.”
A Deep Dive into John Chaney’s Professional Voyage
One cannot negate the fact that John Chaney commands respect for his expansive 53-year journey in the securities landscape. Operating out of Phoenix, Arizona, he has been a part of Moloney Securities since 2015. His commendable trajectory includes stints at esteemed establishments such as:
- Arque Capital
- Fox & Company
- Hornor Townsend & Kent, among others.
Noteworthy certifications under Mr. Chaney’s belt include:
- Registered Representative Examination (Series 1)
- Securities Industry Essentials Examination (SIE)
- General Securities Representative Examination (Series 7)
- Uniform Securities Agent State Law Examination (Series 63)
Additionally, he holds licenses in various states, namely Arizona, Colorado, Missouri, Nebraska, Tennessee, and Texas.
Have You Incurred Investment Losses?
Haselkorn & Thibaut, a stalwart in representing aggrieved investors across the U.S. against investment firms and financial advisors, is at your beck and call. If you find yourself grappling with investment losses, it’s imperative to voice your grievances. Your first step? Dial 1-800-856-3352 or click here to complete our contact form for a complimentary, confidential consultation. Remember, we’re just a call away.
The financial realm is rife with complexities, and the credentials of those you entrust your investments with should be beyond reproach. The allegations against seasoned professionals like Mr. Chaney serve as a reminder to stay vigilant.
