Brian Nelson: Primerica Advisor Faces Mutual Fund Complaint

Grand Prairie, Texas financial advisor Brian Nelson (CRD# 5779195) allegedly made an unauthorized withdrawal from a customer’s account, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with PFS Investments, also known as Primerica.

Mr. Nelson’s BrokerCheck report discloses one investor complaint. Filed in June 2024, it alleges that as a Primerica representative, he “added his own bank account to and withdrew funds from the customer’s mutual fund” without the customer’s knowledge or authorization. The pending complaint alleges unspecified damages.

Investors should be aware that the conversion of customer funds may be considered a violation of FINRA Rule 2150, which stipulates brokers may not “make improper use of a customer’s securities or funds.” Such conduct may also violate FINRA Rule 2010, which states that brokers like Mr. Nelson must “observe high standards of commercial honor and just and equitable principles of trade” as they conduct their business. Representatives who violate these rules may be held liable for damages.

According to the Financial Industry Regulatory Authority, Brian Nelson holds 12 years of securities industry experience. Based in Grand Prairie, Texas, he has been registered as a broker with PFS Investments since 2012. His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Florida, Georgia, Illinois, Louisiana, Maryland, Minnesota, Mississippi, Nevada, New Jersey, New Mexico, New York, Ohio, Oregon, Pennsylvania, Texas, and Virginia. (Information current as of July 21, 2024.)

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