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Jeff Davidson: FINRA Suspends Ex-Equitable Advisor

Austin, Texas financial advisor Jeff Davidson (CRD# 4585780) was recently sanctioned and suspended in connection with alleged rule violations. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Equitable Advisors broker is currently registered as an investment advisor with Victory Financial.

Mr. Davidson’s BrokerCheck report discloses the recent FINRA sanction against him. Filed in February 2024, it describes findings that he did not provide his member firm with prior written notice, nor receive its written approval, before participating “in a private offering of securities that raised $10.21 million for a company that he founded and co-owned.” He had disclosed and received approval of his ownership interest in the company in question, according to FINRA. His involvement in the private offering, however, allegedly included the hiring of a placement agent, approval of a private placement memorandum, presentation of a business plan to investors, and negotiation of terms with investors. FINRA found that investors in the offering included two firm customers. While he did not receive any commissions, per FINRA, he and his co-owner of the company “received approximately $2.4 million by selling a portion of their ownership interest.” In connection with these findings, FINRA fined him $15,000 and suspended him from acting as a broker for 21 months.

A report published by AdvisorHub suggests that the private offering in question involved Camp Gladiator, a fitness company Davidson co-founded with his wife in 2008. “Outside business activities commonly trip up brokers and firms, which are required to supervise for potential customer conflicts,” the report notes.

Victory Financial Group’s website includes a profile of Mr. Davidson. “As a five-time founder, Jeff has built companies that cumulatively have earned more than 400 million in revenue,” it states. “Victory Financial Group is the culmination of two decades of work in the financial services industry as both an advisor and an executive leader.”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Jeff Davidson holds 20 years of securities industry experience. Based in Austin, Texas, he has been registered as an investment advisor with Victory Financial since March 2023. His past registrations include Purshe Kaplan Sterling Investments (Austin, Texas; 2022-2023) and Equitable Advisors (Austin, Texas; 2002-2022). His credentials include the passage of five 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; the Operations Professional Examination, or Series 99TO; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Texas. (Information current as of February 18, 2024.)

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.

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