The Atlanta Business Chronicle recently touted J.P. Turner & Company, LLC as one of Atlanta ’s Top 10 Brokerage Firms. The survey, which ranked firms by the number of brokers in Atlanta, positions J.P. Turner alongside industry leaders like Morgan Stanley Smith Barney, UBS Financial Services, Edward Jones and Raymond James Financial.
The article in the Atlanta Business Chronicle goes on to discuss how J.P. Turner & Company, LLC has achieved this position despite having only been founded in 1997 (J.P. Turner & Company, LLC was founded in 1997 by Tim McAfee and Bill Mello) and states that J.P. Turner & Company, LLC has a network of some 160 independent branch offices and more than 530 financial advisor representatives across the country.
Although J.P. Turner & Company is a relatively new firm, it has not avoided the usual securities fraud pitfalls that are seen at most of the industries brokerage firms. Nor has J.P. Turner & Company avoided the scrutiny of regulators.
According to J.P. Turner & Company’s FINRA broker report, the firm has been named in numerous regulatory and customer complaints. As of August 12, 2009, J.P. Turner & Company had been named in 21 arbitrations and was the subject of 15 “regulatory events.” The most recent regulatory event included a fine in June 2009 of $525,000 and findings that J.P. Turner & Company failed to establish and implement policies and procedures reasonable designed to detect and cause the reporting of suspicious activity as if related to the activities of one former broker. It further found that J.P. Turner & Company failed to obtain required customer information.
The customer complaints against J.P. Turner & Company vary but they include allegations of securities fraud regarding claims of unsuitability, churning, margin, negligence, and breach of fiduciary duty.
If you have questions about investments you made at J.P. Turner & Company, or if you believe that you have been the victim of a securities fraud, the Law Offices of David A. Carter, P.A. may be able to help. The Law Offices of David A. Carter, P.A. is a South Florida securities fraud, securities arbitration, investor protection, and Chapter 7 bankruptcy law firm based in Boca Raton. David Carter is a securities attorney that reviews securities fraud cases throughout the country, including securities cases in Atlanta, Augusta, Athens, Columbus, Macon, Buckhead, Albany, and Marietta. To contact the Law Offices of David A. Carter, P.A., please call 561-750-6999, or email us at contact@carterpa.com. For more information about the Law Offices of David A. Carter, P.A., you can also visit our website at www.carterpa.com.