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New Complaint Against North Texas Advisory Group’s Buddy Jimerson
Dallas financial advisor Buddy Jimerson (CRD# 1374856) recently received an investor complaint alleging his investment advice resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Sunbelt Securities, doing business as North Texas Advisory Group.
Mr. Jimerson’s BrokerCheck report discloses one investor complaint. Filed in June 2022, it alleges that as a representative of Sunbelt Securities, he engaged in common law negligence, breached his fiduciary duty, recommended unsuitable investments, and violated know-your-customer rules. The pending complaint alleges unspecified damages.
For reference, FINRA rules require brokers-dealers and their representatives, like Mr. Jimerson, to follow the suitability standard. As explained in FINRA Rule 2111, this rule states that they may only recommend their customers invest in products that are appropriate for the customers’ individual investment profiles. This includes factors such as the client’s investment objectives, investment experience, income, liquidity needs, age, net worth, risk tolerance, and income. The suitability standard is similar to but distinct from the fiduciary standard followed by investment advisers, which requires them to place the investor’s interests above their own.
According to the Financial Industry Regulatory Authority, Buddy Jimerson holds 34 years of securities industry experience. Based in Dallas, Texas, he has been a broker and an investment advisor with Sunbelt Securities since 2017, doing business as North Texas Advisory Group. His past registrations include WFG Investments (Dallas, Texas; 1991-2017) and Prudential Securities (New York, New York; 1987-1991). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 26 state licenses. (Information current as of September 30, 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.