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John Alexander: FINRA Suspends Athens, Georgia Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against Athens, Georgia investment advisor John Alexander (CRD# 4751186) suspended him over allegations he improperly exercised discretionary authority. A former representative of Raymond James & Associates who is currently associated with Kiker Wealth Management, Alexander was suspended for 60 days and issued a fine of $7,500.
According to a Letter of Acceptance, Waiver and Consent (No. 2017055439501) dated July 2019, John Alexander was registered with Raymond James & Associates when, between January 2014 and February 2017, he exercised discretionary authority in customer accounts without receiving prior written authorization from the accountholder or his firm’s acceptance of the accounts as discretionary. He also allegedly made false attestations in four annual firm compliance questionnaires concerning his use of discretion in customer accounts, and to the firm’s compliance staff during two inquiries into his “trading activity.” FINRA’s findings go on to state that during this same period, he erroneously marked 80 discretionary transactions as “solicited” or “unsolicited,” when they were discretionary transactions, causing the firm to maintain inaccurate books in records, in contravention of industry rules. FINRA found these activities to constitute violations of FINRA Rules 4511(a) and 2010, and NASD Rule 2510(b) As a result of the foregoing alleged conduct, he was suspended from associating with any FINRA member firm in any capacity for 60 days. He was also ordered to pay a fine of $7,500.
John Alexander’s disclosure records also list one employment separation and one customer complaint against him that reached a settlement. He was terminated from his position at Raymond James & Associates in August 2017 over allegations of unauthorized trading in client accounts. A complaint filed in 2017, meanwhile, alleged that as a representative of Raymond James, he engaged in excessive trading; it reached a settlement in 2018 of $85,000.
John Alexander is currently not registered as a broker; he has been registered as an investment advisor with Kiker Wealth Management in Athens, Georgia since 2017. His employment history includes Raymond James & Associates in Athens, Georgia, and Morgan Keegan & Company in Athens, Georgia. He currently holds zero state licenses and has passed three securities industry qualification examinations.