Investors are outraged by recent allegations against Jennifer Basey, a prominent financial advisor in Fort Myers. Basey, currently affiliated with Stifel Nicolaus & Company, has an extensive record of complaints and sanctions disclosed by the Financial Industry Regulatory Authority (FINRA).
The Latest Wave of Trouble
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The most current of the investor complaints, lodged in September 2023, quotes that Basey, while employed by Stifel Nicolaus & Company, made assurances that investments were safe, resulting in investor losses. The fallout is significant, with the pending investor complaint earmarking damages to the tune of $75,000.
The Ghosts of Missteps Past
This is not the first time Basey has faced criticism for her advice. Two previous complaints date back to when she was associated with Edward Jones. In one 2013 complaint, Basey was accused of providing misleading information and omitting key details relating to a mutual fund investment. The issue was resolved with a settlement exceeding $5,500.
Similarly, in 2009, another investor alleged loss due to an improperly recommended high-leverage strategy. This incident culminated in a hefty settlement of $35,000 being paid to the client.
Rounds of Sanctions
The lapses are not only limited to misrepresentation and faulty advice. Jennifer Basey’s BrokerCheck report holds disclosures of regulatory action. As recently as in March 2020, FINRA sanctioned Basey for allegations surrounding her falsifying a client’s signature and forging initials on critical paperwork to facilitate fund transfers. This incident resulted in Basey being levied a $5,000 fine and benched with a two-month suspension.
It doesn’t end there; Basey was previously censured by Michigan state’s securities regulators in February of the same year. The charges hinged upon accusations of dishonest and unethical activity in the realm of securities, earning her the status of conditional registration.
Despite these past allegations, professionals like Jennifer Basey can continue practicing courtesy of their credentials. In Basey’s case, this spans over 19 years of experience in the securities industry and four securities industry qualifying exams. Based out of Fort Myers, Florida, she has been a registered broker and investment advisor with Stifel Nicolaus & Company since January 2020. Earlier, she had a long stint with Edward Jones from 2004 until 2019. Her certification entails passing the Series 7, SIE, Series 63, and Series 66 exams, and she holds 21 state licenses, solidifying her credibility in the industry.
How Haselkorn & Thibaut Can Help
These allegations raise imminent questions about the integrity of the advice provided by such seasoned advisors. It further emphasizes the importance of comprehensive due diligence before placing your hard-earned funds in someone else’s hands.
No investment strategy should leave you in financial ruin. When there’s a lapse in financial advisor obligations, Haselkorn & Thibaut steps in. We have vast experience in representing aggrieved investors across the United States in claims against financial advisors and investment firms.
If you or your loved one have felt the pain of investment losses, don’t hold back. Connect with us at 1-800-856-3352 or fill out our form for a free and confidential consultation. Sonia Sotomayor once said, “No decision will pay off more than prioritizing your life and giving extreme focus and energy in a directional, deliberate way.” Don’t let the past rob you of your future financial security. Together, let’s tackle it head-on. Never forget, that strength does not come from winning. Your struggles develop your strengths. Trust us to be your rock amidst the storm.
