Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Edward Maynard: $2.6mm Oil & Gas Complaint Against Covington Advisor
SA Stone Wealth Management advisor Edward Maynard (CRD# 2414427) recently received an investor complaint alleging his advice resulted in more than $2 million in damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor based in Covington, Kentucky.
Mr. Maynard’s BrokerCheck report discloses one investor complaint. Filed in August 2022, it alleges that as a representative of Cambridge Investment Research, he overly exposed the clients and concentrated their assets in “non-conventional investments,” resulting in losses. The pending complaint, which relates to oil and gas and real estate investments, alleges damages of $2.6 million.
“Concentration,” also referred to as as over-concentration or lack of diversification, is the investment equivalent of placing too many eggs in one basket, as FINRA’s investor resources describe it. The regulatory agency advises that investors can avoid the risks of over-concentration—which include overexposure to risky investments that can magnify losses—by diversifying their portfolios across and within major asset classes, regularly rebalancing their portfolios, performing thorough due diligence into the underlying products in any mutual funds and exchange-traded funds in their portfolio, and paying careful attention to their investments’ liquidity.
According to the Financial Industry Regulatory Authority, Edward Maynard holds 28 years of securities industry experience. Based in Covington, Kentucky, he has been a broker and an investment advisor with SA Stone Wealth Management and SA Stone Wealth Advisors, respectively, since 2015. His past registrations include Cambridge Investment Research (Cincinnati, Ohio; 2001-2015), Eneric Financial Advisors (Fairfield, Iowa; 1995-2001), and Fidelity Investments Institutional Services Company (Smithfield, Rhode Island; 1994-1995). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 19 state licenses. (Information current as of September 14, 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.