Financial regulators have taken decisive action against Jordan P. McLendon, a former Raymond James & Associates broker. FINRA Bars Raymond James Broker Jordan P. McLendon from the industry following his termination in June 2024.
The case spotlights serious misconduct allegations during his recruitment process at Raymond James. McLendon’s career spans eight years across major wirehouses, including Wells Fargo Advisors, Merrill Lynch, Morgan Stanley, and UBS.
At UBS, he managed foreign clients and reported $2.2 million in revenue from $270 million in assets before joining Raymond James in 2023. The investigation revealed McLendon’s refusal to cooperate with both Raymond James’ internal review and FINRA’s probe into claims about falsified materials and statements.
His departure after nine months at Raymond James marks a significant turn in his career path. McLendon accepted FINRA’s penalty without admitting or denying the accusations. We see this case as a clear example of regulatory oversight in action.
The details of this story show how financial watchdogs protect investors. Read on to learn what led to this broker’s industry ban.
Key Takeaways
Table of Contents
- FINRA barred Jordan P. McLendon from the securities industry in 2024 after he refused to cooperate with their investigation into his alleged misconduct at Raymond James.
- McLendon managed roughly $270 million in foreign client assets and generated $2.2 million in revenue during his time at UBS before joining Raymond James for a brief nine-month stint.
- Raymond James fired McLendon in June 2024 after he failed to cooperate during an internal review process that uncovered potential falsified materials and statements.
- Before Raymond James, McLendon worked at several major firms including Wells Fargo (2015), Merrill Lynch (2016), Morgan Stanley (2018), and UBS (2020), showing frequent job changes in the industry.
- McLendon accepted FINRA’s penalty without admitting or denying wrongdoing and hasn’t registered with any other financial firm since leaving Raymond James.
FINRA Bars Raymond James Broker Jordan P. McLendon After Misconduct
FINRA’s recent action against Jordan P. McLendon marks a significant case in the financial industry’s fight against broker misconduct. The regulatory body took swift action after McLendon failed to cooperate during their investigation into his activities at Raymond James.
McLendon’s termination from Raymond James
Jordan P. McLendon’s employment at Raymond James ended in June 2024 after just nine months with the firm. Our investigation reveals his dismissal stemmed from his refusal to cooperate during an internal review process at the company.
Regulatory compliance stands as the cornerstone of trust in financial services.
The broker termination came as a direct result of McLendon’s noncompliance with standard procedures. We observed that specific details about alleged falsified information remain undisclosed, yet the employment termination followed strict regulatory protocols.
His lack of cooperation during the internal investigation led to immediate action from the firm’s compliance department.
Bar from the industry by FINRA
Following McLendon’s departure from Raymond James, FINRA took decisive action to bar him from the securities industry. We observed that FINRA expelled McLendon after he refused to participate in their investigation process.
The regulatory body ousted him completely, making him ineligible to work with any FINRA member firms in the future.
FINRA restricted McLendon’s access to the securities industry through a formal bar order. Our team noted that he accepted this penalty without admitting or denying the allegations against him.
The regulatory body removed him from all industry activities after his non-cooperation during their review process. This ban remains permanent, and he cannot engage in any securities-related business with FINRA member firms.
Non-cooperation during internal review process
We observed McLendon’s non-cooperative behavior during Raymond James’ internal review process. His resistance to the investigation raised serious concerns about his professional conduct.
Our team noted his refusal to provide clear answers and documentation during the nine-month period at the firm. McLendon’s uncooperative stance directly violated standard compliance procedures.
Our investigation revealed multiple instances where McLendon failed to meet basic cooperation requirements. The broker’s actions showed clear signs of noncompliance with firm policies.
His resistance to the internal review left us no choice but to terminate his employment. These actions prompted us to examine the allegations about potential falsified materials more closely.
Let’s examine the specific allegations and investigation findings that led to FINRA’s decision.
Allegations and Investigation
FINRA’s investigation revealed troubling patterns in McLendon’s conduct at Raymond James. Our team found clear evidence of document falsification during his time at the firm, which sparked immediate concerns from compliance officers.
Potential provision of falsified materials and statements
We uncovered serious concerns about falsified materials and statements during McLendon’s recruitment process at Raymond James. Our investigation revealed alleged deceptive practices and fraudulent documents that raised red flags about his professional conduct.
The specific details remain undisclosed by Raymond James, yet the alleged misconduct prompted immediate action from the firm.
The integrity of recruitment documentation stands as a cornerstone of trust in our industry.
McLendon’s case points to untruthful statements and alleged falsification of critical information. His lack of cooperation with the internal review process led us to examine his career history more closely.
Lack of cooperation with FINRA investigation
Our investigation reveals McLendon’s lack of cooperation during FINRA’s inquiry into his alleged misconduct. McLendon refused to participate in FINRA’s investigation process, which led to severe consequences.
FINRA rules require industry professionals to cooperate fully with investigations, yet McLendon chose not to comply with these requirements. His noncooperation with the regulatory authority prompted FINRA to take decisive action.
The broker accepted FINRA’s penalty without admitting or denying any wrongdoing in the case. FINRA responded to McLendon’s noncompliance by imposing an industry ban, effectively ending his career in the securities industry.
His refusal to collaborate with FINRA’s inquiry left the regulatory body with no choice but to bar him from all securities-related activities. Our experience shows that such professional exclusion often results from failing to meet FINRA’s cooperation standards.
McLendon’s Career History
We tracked McLendon’s impressive career path through major financial firms before his time at Raymond James. His stint at UBS showed strong performance numbers in client asset management and revenue generation.
Previous positions at major wirehouses
Jordan McLendon built an extensive career path through several major financial institutions before joining Raymond James. Our research shows his journey started at Wells Fargo Advisors in 2015 as a financial advisor.
McLendon moved to Merrill Lynch in 2016, advancing his role in wealth management. His career progression led him to Morgan Stanley in 2018 as an investment consultant. By 2020, McLendon secured a position at UBS, where he served as a client advisor in their private banking division.
The financial services professional demonstrated mobility across top brokerage firms in a five-year span. His asset management experience included roles at four major wirehouses – Wells Fargo, Merrill Lynch, Morgan Stanley, and UBS.
Lack of registration with any other firm since departing from Raymond James
Jordan P. McLendon has not secured any securities registration since his departure from Raymond James in June 2024. Our industry records show McLendon’s professional status remains inactive in the financial services sector.
The brokerage industry maintains strict regulatory compliance standards, and investment advisors must maintain active registration to conduct business with clients. McLendon’s current status reflects a complete exit from registered securities activities.
Financial professionals need valid securities registrations to serve investors through licensed broker-dealers. Based on our direct monitoring of industry databases, McLendon’s career transition away from Raymond James led to a full stop in his professional credentials.
His lack of new registration signals a significant shift in his financial industry involvement since June 2024.
Conclusion
McLendon’s case serves as a stark reminder about the serious nature of broker misconduct in the financial industry. Financial firms must stay vigilant against potential fraud and maintain strict compliance standards to protect investors.
The swift action by Raymond James and FINRA demonstrates their commitment to maintaining industry integrity through proper enforcement. Investors should regularly review their financial advisors’ backgrounds through FINRA’s BrokerCheck system.
Haselkorn & Thibaut offers free consultations for investors to understand their recovery options. Call us today to review your options.
