Charles Fagan: Raymond James Denied $303K Complaint

St. Louis financial advisor Charges Fagan (CRD# 5040887) was recently involved in an investor complaint alleging he violated industry standards. Records maintained by the Financial Industry Regulatory Authority show that he is currently registered as a broker and an investment advisor with Raymond James Financial Services.

Mr. Fagan’s BrokerCheck report discloses one investor complaint. Filed in April 2023, it alleges that as a representative of Raymond James Financial Services, he recommended unsuitable CMO investments between January 2023 and March 2023. (For reference, FINRA-registered representatives are required by FINRA’s suitability rule to recommend investments that are appropriate for a customer’s objectives and background, as determined by due diligence into the customer’s profile as well as the investment itself.) The complaint alleged damages of $303,289.50 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Charles Fagan holds 17 years of securities industry experience. Based in St. Louis, Missouri, he has been a broker and an investment advisor with Raymond James Financial Services since 2011 and 2019, respectively. His past registrations include Wells Fargo Advisors (Frontenac, Missouri; 2008-2011) and AG Edwards & Sons (St. Louis, Missouri; 2006-2008). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alabama, Arizona, California, Colorado, the District of Columbia, Florida, Illinois, Kansas, Kentucky, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Oregon, Tennessee, Texas, Virginia, Washington, and Wisconsin. (Information current as of May 14, 2023.)

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