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James Hundley: $100K Complaint Against Stanhope Advisor
A recent investor complaint against The Investment Center financial advisor James Hundley (CRD# 2517897) alleges that his advice resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and investment advisor in Stanhope, New Jersey, having previously been based in Newton, New Jersey.
Mr. Hundley’s BrokerCheck report discloses one investor complaint. Filed in May 2022, it alleges that as a representative of Avantax Investment Services, he recommended an unsuitable investment. The pending complaint alleges damages of $100,000.
An unsuitable investment, as outlined by FINRA Rule 2111, is one which the broker does not have a reasonable basis to believe is suited to a customer’s specific profile. An investor’s profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and other factors. FINRA rules require brokers to perform reasonable diligence to determine a customer’s profile. Then, they must use this determination to evaluate the suitability of an investment or strategy for that customer. Brokers who recommend unsuitable investments may be liable to their customers in the event of losses.
According to the Financial Industry Regulatory Authority, James Hundley holds 27 years of securities industry experience. Based in Stanhope, New Jersey, he has been a broker and an investment advisor with The Investment Center and IC Advisory Services, respectively, since 2018. His past registrations include H.D. Vest Advisory Services (Newton and Mount Olive, New Jersey; 1997-2018) and TFS Securities (Lincroft, New Jersey; 1994-1997). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Florida, Georgia, Michigan, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, and Texas. (Information current as of July 8, 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.