Jon Freeze, Fortune Financial – Broker Investigation Updated July 19, 2019
Are you concerned about your investments with former financial advisor Jon Freeze? According to the Financial Industry Regulatory Authority, Jon Freeze (Jonathan Douglas Freeze, CRD #2642023, Canonsburg, Pennsylvania) was issued an AWC on August 14, 2017, in which Freeze was barred from association with any FINRA member in all capacities.
Freeze reportedly refused to provide FINRA with documents and information in connection with an ongoing investigation relating to his recommendation of variable annuities.
According to his FINRA BrokerCheck report, Freeze was registered with Fortune Financial Services from July 2015 until April 2017 in Canonsburg, PA. He worked for Summit Brokerage Services in Fredericksburg VA from July 2013 through July 2015. Freeze was registered with LPL Financial Services in Fredericksburg VA from March 2009 until he was discharged in July 2013 because “he accepted a loan from a customer in violation of firm policy.”
For FINRA’s full findings see FINRA Case #2017052701401.
Update on July 19, 2019
According to new information on Freeze’s broker report, there have reportedly been six customer complaints filed against him since February 2019 alleging “Selling away. Mr. Freeze requested and received funds to be invested in Alternative Energy Holdings, possibly a Reg D investment outside the scope of a limited purpose broker dealer.”
When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.”
Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.
If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.
Recover your investment losses
The White Law Group is investigating the liability that Jon Freeze’s employers may have for losses sustained by his clients. Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agent, they can be held responsible for losses in a FINRA arbitration claim.
Are you concerned about investment losses with Jon Freeze? The attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, please visit www.whitesecuritieslaw.com.