Jeff Frankos: $10mm Complaint Against Raymond James Advisor

A recent investor complaint against San Francisco, California financial advisor Jeff Frankos (CRD# 4006785) alleges that his conduct resulted in damages exceeding $10 million. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Raymond James & Associates.

Mr. Frankos’ BrokerCheck report discloses one investor complaint. Filed in February 2026, it alleges that as a representative of JP Morgan Securities, he recommended an unsuitable investment and used discretion in the customer’s accounts. The pending complaint alleges damages of $10,953,568.

For reference, FINRA Rule 3260 outlines specific conditions under which brokers like Mr. Frankos may engaged in discretionary trading, that is, the execution of securities transactions without prior consultation with the investor. As FINRA explains in its investor resources, the use of discretion “generally means the broker can decide at any time how much of a stock, bond or other security to buy or sell, and at what price, without customer input.” Rule 3260 states that brokers may not exercise discretionary power without the customer’s prior written authorization and the firm’s acceptance of the account as discretionary. The firm’s acceptance must be “evidenced in writing by the member or the partner, officer or manager, duly designated by the member.” Even in cases where brokers have received authorization from both parties to engage in discretionary trading, Rule 3260 prohibits them from effecting transactions “which are excessive in size or frequency in view of the financial resources and character of such account.” Brokers who improperly engage in discretionary trading may be held liable.

According to the Financial Industry Regulatory Authority, Jeff Frankos holds 23 years of securities industry experience. Based in San Francisco, California, he has been registered as a broker and an investment advisor with Raymond James & Associates since 2022. His registration history includes JP Morgan Securities, Thomas Weisel Partners, Citigroup Global Markets, PreferredTrade, and Charles Schwab & Company. HIs credentials include the passage of eight securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; the Securities Trader Exam, or Series 57TO; and the Limited Representative-Equity Trader Exam, or Series 55. He holds 25 state licenses. (Information current as of March 22, 2026.)

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