Francis Cunningham: Ex-Stifel Advisor Lands Churning Complaint

Memphis, Tennessee financial advisor Francis Cunningham (CRD# 2105075) allegedly made unauthorized trades, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with B. Riley Wealth Management and B. Riley Wealth Advisors, respectively, having previously been registered with Stifel Nicolaus.

Mr. Cunningham’s BrokerCheck report discloses one investor complaint. Filed in October 2025, it alleges that as a representative of Stifel Nicolaus, he made unauthorized purchases and sales, churned investments, and effected an unauthorized account transfer. The pending complaint alleges damages of $18,469.

A second disclosure on Mr. Cunningham’s BrokerCheck report concerns his termination from Stifel Nicolaus. Filed in November 2025, it states that the firm fired him in connection with a “loss of confidence” and allegations that he did not adhere to order entry procedures.

According to the Financial Industry Regulatory Authority, Francis Cunningham holds 26 years of securities industry experience. Based in Memphis, Tennessee, he has been registered as a broker and an investment advisor with B. Riley Wealth Management and B. Riley Wealth Advisors, respectively, since November 2025. His past registrations include Stifel Nicolaus & Company, Morgan Keegan & Company, and First Tennessee Brokerage. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; the Municipal Securities Representative Examination, or Series 52TO; the Municipal Securities Representative Examination, or Series 52; and the General Securities Representative Examination, or Series 7. He is licensed in Arkansas, Florida, Georgia, Kentucky, Mississippi, South Carolina, Tennessee, and Texas. (Information current as of December 21, 2025.)

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