Kestra Advisor Jim Morrison Receives Oil & Gas Complaint

Waco, Texas financial advisor Jim Morrison (CRD# 1254375) is involved in an investor complaint alleging that a private placement investment recommendation resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Kestra Investment Services. He is also the owner and president of Jim Morrison Financial Services.

Mr. Morrison’s BrokerCheck report discloses one investor complaint. Filed in December 2022, it alleges that he recommended an unsuitable oil and gas private placement. The pending complaint, which also asserts that Kestra conducted inadequate due diligence on the investment, alleges damages of $150,000.

FINRA Rule 2111 states that brokers like Mr. Morrison may only recommend investment products and strategies that are considered suitable for their customers’ individual background and needs, as determined by a reasonable level of due diligence. More information on this standard is available here.

According to records maintained by the Financial Industry Regulatory Authority, Jim Morrison holds 38 years of securities industry experience. Based in Waco, Texas, he has been a broker with Kestra Investment Services since 2003 and an investment advisor with Kestra Advisory Services since 2016. His past registrations include NFP Advisor Services (Austin, Texas; 2003-2016), WS Griffith Securities (Hartford, Connecticut; 1995-2003), Omega Securities (Fort Worth, Texas; 1991-2000), Phoenix Equity Planning Corporation (Hartford, Connecticut; 1990-1991), Farwest Securities (Tampa, Florida; 1989), and Integrated Resources Equity Corporation (1984-1989). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Oklahoma, South Carolina, Texas, and Wisconsin. (Information current as of December 26, 2022.)

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