In a recent regulatory action, the Florida Office of Financial Regulation has brought forth serious allegations against Lance Matthew Morrison, a broker and investment advisor associated with Money Concepts Capital Corp. The case, which was finalized on August 22, 2023, has significant implications for investors who have entrusted their financial well-being to Morrison and the company.
The Allegation and Its Impact on Investors
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According to the Office’s findings, Lance Matthew Morrison rendered investment advice from a location within Florida without being properly registered with the Office, violating section 517.12(4) of the Florida Statutes. While Morrison neither admitted nor denied the allegations, he consented to the entry of findings by the Office and agreed to pay an administrative fine of $17,500.
This violation raises concerns about the reliability and trustworthiness of the investment advice provided by Lance Matthew Morrison and, by extension, Money Concepts Capital Corp. Investors who have relied on Morrison’s guidance may now be questioning the validity of their investment decisions and the safety of their financial assets.
Understanding the Violation and FINRA Rule
The crux of the allegation against Lance Matthew Morrison lies in his failure to register with the Florida Office of Financial Regulation while providing investment advice within the state. This registration requirement is a critical safeguard designed to protect investors by ensuring that investment professionals meet certain qualifications and adhere to regulatory standards.
FINRA, the Financial Industry Regulatory Authority, maintains rules and regulations that govern the conduct of brokers and investment advisors. Morrison’s FINRA CRD number is 5802504, and investors can use this information to access his background and disciplinary history through FINRA’s BrokerCheck system.
The Significance for Investors
The case against Lance Matthew Morrison underscores the importance of working with properly registered and regulated investment professionals. When an advisor fails to adhere to registration requirements, it raises red flags about their commitment to regulatory compliance and investor protection.
Investors who have worked with Lance Matthew Morrison or Money Concepts Capital Corp should closely review their investment portfolios and the advice they have received. If there are concerns about the suitability or legitimacy of any investments or strategies, it is crucial to seek guidance from a trusted and properly registered financial professional.
Red Flags and Recovering Losses
The allegations against Lance Matthew Morrison serve as a reminder for investors to be vigilant in identifying red flags that may indicate financial advisor malpractice. Some warning signs include:
- Unregistered or improperly licensed advisors
- Lack of transparency about investment strategies and risks
- Pressure to make quick investment decisions
- Promises of guaranteed returns or overly consistent performance
If investors suspect that they have been the victim of financial advisor malpractice, they may be able to recover their losses through FINRA arbitration. Haselkorn & Thibaut, a national investment fraud law firm with a 98% success rate and over 50 years of combined experience, is currently investigating Lance Matthew Morrison and Money Concepts Capital Corp.
Haselkorn & Thibaut offers free consultations to investors and operates on a “No Recovery, No Fee” basis. With offices in Florida, New York, North Carolina, Arizona, and Texas, the firm is well-positioned to assist investors nationwide. To discuss your case and potential recovery options, contact Haselkorn & Thibaut at their toll-free number: 1-800-856-3352.
As the case against Lance Matthew Morrison unfolds, it serves as a stark reminder of the importance of working with trusted, properly registered financial professionals and remaining vigilant in protecting one’s investments. By staying informed and seeking expert guidance when needed, investors can better safeguard their financial futures.
