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Raymond James Fires Jean Coulanges, Boca Raton Advisor
Boca Raton financial advisor Jean Coulanges (CRD# 7410568) was recently fired by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former Raymond James representative is currently a broker and investment advisor with Alliance Global Partners.
A disclosure on Mr. Coulanges’ BrokerCheck report describes his termination from Raymond James. According to the disclosure, he was discharged in January 2023 following allegations that he “engaged in conduct that was inconsistent with firm policies on discretionary trading.” The filing provides no additional information.
Investors should be aware that FINRA rules, as well as other securities industry regulations, prohibit representatives like Mr. Coulanges from effecting securities transactions without the permission or authorization of their customers. FINRA Rule 3260, for instance, outlines specific conditions under which brokers can make discretionary trades—that is, the execution of transactions without prior consultation with the customer. As FINRA explains in its investor resources, discretion “generally means the broker can decide at any time how much of a stock, bond or other security to buy or sell, and at what price, without customer input.” Rule 3260 prohibits brokers from exercising discretionary authority without the customer’s prior written authorization and the firm’s acceptance of the account, in writing, as discretionary. The firm’s acceptance must be “evidenced in writing by the member or the partner, officer or manager, duly designated by the member.” Representatives who engage in discretionary trading without proper authorization, or against a firm’s rules governing discretionary trading, may be held liable for damages or even subject to disciplinary action by FINRA and/or the Securities and Exchange Commission.
According to the Financial Industry Regulatory Authority, Jean Coulanges holds one year of securities industry experience. Based in Boca Raton, Florida, he has been a broker and an investment advisor with Alliance Global Partners since February 2023. He was previously registered with Raymond James Financial Services in Sunrise, Florida from 2021 until 2023. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; and the Uniform Combined State Law Examination, or Series 66. He is licensed as a broker and an investment advisor in Florida. (Information current as of March 16, 2023.)
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