In the world of finance, trust serves as the cornerstone for successful investments. What transpires if that confidence is betrayed and investors suffer sizable losses? This was the case with the most recent investor complaint made against Mobile, Alabama-based financial advisor Maury Lomax.
According to the complaint, Lomax’s actions caused million-dollar damages and shook up the financial sector. According to records from the Financial Industry Regulatory Authority, Lomax was previously registered with Citigroup Global Markets and is currently a broker and investment advisor with Morgan Stanley.
Two investor complaints, the most recent of which was filed in June 2021, are discussed in Lomax’s BrokerCheck report. In this complaint, Lomax is charged with carrying out an investment plan that was not in his client’s best interests while serving as a Morgan Stanley representative. FINRA regulations require advisors like Lomax to suggest investments that fit the particular investment profiles of their clients. A staggering $1 million in damages are sought in the ongoing complaint.
Lomax has been the subject of misconduct accusations before. In 2009, a prior investor complaint was made alleging that Lomax, while working for Morgan Stanley, had misled his clients about the security of their investment portfolios. The firm ultimately rejected the complaint, which sought damages in the amount of $158,000.
Lomax has accumulated a wide range of experience in the securities industry over the course of a 22-year career. He has worked as a broker and investment advisor for Morgan Stanley since 2009. His registration history includes Mobile, Alabama-based Morgan Stanley DW, Morgan Stanley & Company, and Citigroup Global Markets. The General Securities Representative Examination (Series 7), the Futures Managed Funds Examination (Series 31), the Securities Industry Essentials Examination (SIE), and the Uniform Combined State Law Examination (Series 66) are the four securities industry qualifying exams that Lomax has passed with flying colors. With an impressive 30 state licenses, Lomax has proven his commitment to and proficiency in the industry.
The services offered by Haselkorn & Thibaut have been a source of comfort for investors who have lost money as a result of alleged misconduct by financial advisors and investment firms. Haselkorn & Thibaut fight for justice and just compensation on behalf of clients all over the United States by specializing in claims against these organizations. Do not be reluctant to contact 1-800-856-3352 for a free and confidential consultation if you or a loved one has suffered investment losses.
The decisions made by financial advisors like Maury Lomax can have far-reaching effects in a society where financial security is of utmost importance. To make sure that our hard-earned money is in competent and reliable hands, it is essential for investors to remain informed and vigilant.
