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Arlington Financial Denies Complaint Against Cary Jacobs
Glenview, Illinois financial advisor Cary Jacobs (CRD# 5029640) recently received an investor complaint alleging her conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Moloney Securities, doing business as Arlington Financial Services.
Mr. Jacobs’ BrokerCheck report discloses one investor complaint. Filed in September 2022, it alleged that as a Moloney Securities representative, he recommended unsuitable investments and acted negligently. The complaint alleged damages of $100,000 and was denied by the firm. Investors should be aware, however, that a firm’s denial of a customer complaint does not necessarily mean the complaint was groundless: investors can still pursue recovery through other actions, like FINRA arbitration claims.
For reference, negligence denotes a broker and/or investment advisor’s failure to uphold their duty of care to their clients. In broad terms, that failure takes the form of an advisor doing something that a reasonably prudent advisor would not do under the same circumstances, or not doing something that a reasonably prudent advisor would do. Recommending unsuitable securities, failing to diversify a portfolio, performing inadequate or incomplete due diligence on an investment: all of these can be forms of negligence. As with other forms of broker and advisor misconduct, representatives who engage in negligence may be held liable in the event of losses.
According to the Financial Industry Regulatory Authority, Cary Jacobs holds 12 years of securities industry experience. Based in Glenview, Illinois, he has been a broker and an investment advisor with Moloney Securities since 2010 and 2016, respectively, doing business as Arlington Financial Services. His past registrations include Moloney Investment Advisory (2016) and Moloney Securities (2010-2016) in Northbrook, Illinois. His credentials include the passage of four securities industry qualifying exams: the National Commodity Futures Examination, or Series 3; 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 Florida and Illinois. (Information current as of October 12, 2022.)
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.