John Schiro: $225K Complaint Against Raymond James Advisor

Dallas, Texas financial advisor John Schiro (CRD# 5828193) recently received an investor complaint alleging that his advice resulted in damages exceeding $200,000. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Raymond James & Associates.

Mr. Schiro’s BrokerCheck report discloses one investor complaint. Filed in December 2025, it alleges that as a representative of Wealth Enhancement Advisory Services, he recommended unsuitable investments in options products. The pending complaint alleges damages of $225,000.

A second disclosure on his BrokerCheck report concerns his resignation from Wealth Enhancement Advisory Services. Filed in January 2025, it states that he was “permitted to resign” from the firm “while under internal review related to an investor complaint.”

The Financial Industry Regulatory Authority maintains numerous rules and standards that brokers must follow. One such rule is the suitability rule, which holds that brokers must “have a reasonable basis to believe” their investment recommendations are appropriate for their customers. As outlined in FINRA Rule 2111, and later the SEC’s Regulation Best Interest, brokers determine an investment’s suitability by evaluating “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” An investor’s profile includes such information as their age, income, net worth, and risk tolerance. The recommendation of unsuitable investments can lead to potentially significant losses for the customer.

According to the Financial Industry Regulatory Authority, John Schiro holds 15 years of securities industry experience. Based in Dallas, Texas, he has been registered as a broker and an investment advisor with Raymond James & Associates since January 2026. His past registrations include Wealth Enhancement Advisory Services, JP Morgan Securities, Lincoln Financial Distributors, Russell Investments Financial Services, Morgan Stanley, and US Bancorp Investments. His credentials include the passage of four securities indusutry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He is licensed in California, Colorado, Georgia, Louisiana, Texas, Utah, and Wisconsin. (Information current as of February 15, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.