Lynn Faust (CRD#: 729012) is a registered broker and investment advisor. She is currently associated with Stifel, Nicolaus & Company, based at a branch office in Greer, South Carolina. Previously, Ms. Faust served as a securities representative for Raymond James & Associates.
On October 17th, 2018, Raymond James terminated Lynn Faust after concerns arose regarding this broker’s activity in UITs. Here, our FINRA arbitration lawyers review the allegations against this broker.
Discharged Broker: Lynn Faust Formerly of Raymond James & Associates
According to information contained in her BrokerCheck report, Lynn Faust was terminated by her former brokerage firm — Raymond James & Associates — after concerns were raised related to her activity in unit investment trusts (UITs). This is notable because Ms. Faust is far from the only broker who has recently been discharged by Raymond James for UIT-related activity.
Last month, Advisorhub reported that Raymond James & Associates discharged several brokers across the country after the firm launched a large internal review of representative practices related to UITs. This action by Raymond James came not long after an announcement by FINRA in which the regulatory agency stated that it was undertaking a nationwide ‘sweep’ to determine if brokers and brokerage firms were improperly ‘churning’ or performing early rollovers of UITs in order to generate excess, ill-gotten commissions.
Contact Our Securities Litigation Attorneys Today
At Sonn Law Group, our top-rated FINRA arbitration attorneys are strong advocates for investors. If you lost money due to financial advisor or brokerage firm misconduct, we can help. To arrange a no-fee, fully private case evaluation, please contact us today.
Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.