Adam Brown: $350K Complaint Against St. Bernard Financial Advisor

Jonesboro, Arkansas financial advisor Adam Brown (CRD# 4905935) recently received an investor complaint alleging that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with St. Bernard Financial Services, doing business as Banks and Brown.

Mr. Brown’s BrokerCheck report discloses one investor complaint. Filed in January 2025, it alleges that as a representative of St. Bernard Financial Services, he recommended a “risky investment strategy” to a customer who “wanted to double his money,” resulting in “large losses.” The pending investor complaint alleges damages of $350,000.

In a statement included with the complaint’s disclosure, Mr. Brown defended himself against the client’s allegations. “Customer wanted a high risk/high reward investment strategy,” he wrote. “Customer lost money and is unhappy.”

St. Bernard Financial Services’ website includes a page describing the firm’s history and services. “St. Bernard was founded with a vision to fill the need for a complete financial services company,” it explains. “The need for more than a security or insurance brokerage company. The need of one source for financial planning, tax planning, investment advisory services, securities, and insurance.”

According to the Financial Industry Regulatory Authority, Adam Brown holds 19 years of securities industry experience. Based in Jonesboro, Arkansas, he has been registered as a broker and an investment advisor with St. Bernard Financial Services since 2012, doing business as Banks and Brown. His past registrations include AG Edwards & Sons (Jonesboro, Arkansas; 2005-2008), Wells Fargo Advisors (Jonesboro, Arkansas; 2008-2010), and SWS Financial Services (Jonesboro, Arkansas; 2010-2012). His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arkansas. (Information current as of February 6, 2025.)

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