John Davenport: $150K Complaint Against J. Davenport Advisor

Norwalk, Connecticut financial advisor John Davenport (CRD# 1448999) recently received an investor complaint alleging that his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Liberty Partners Financial Services broker is currently an investment advisor with J. Davenport Advisors.

Mr. Davenport’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in October 2023, alleges that as a Securities America representative, he recommended an unsuitable alternative investment. The pending complaint alleges damages of $150,000.

An earlier investor complaint, filed in 2019, alleged negligence, misrepresentation and omission of material facts, breach of fiduciary duty, and the unsuitable recommendation and sale of variable annuity products. In 2021 the complaint reached a settlement of $325,000. “This case was settled for the charges associated with surrendering the two IRA annuities,” Mr. Davenport wrote in a statement included with the complaint’s disclosure. “As a condition of this settlement, I said that I wanted it in writing that I accept no liability; that what I proposed was suitable given… cash flow issues: and my broker dealer fully approved of the two annuities I recommended.”

A third investor complaint, filed in 2003, alleged that as a representative of Prime Capital Services, he guaranteed an eight percent return on the customer’s variable annuity investment. The complaint reached a settlement of $50,000.

A fourth disclosure on Mr. Davenport’s BrokerCheck report concerns a FINRA sanction against him. Filed in 2019, it alleged that he made securities transactions for a representative at another member firm “and split the commissions generated from the transactions with that representative, without the knowledge or consent of either firm, and without reflecting the commission sharing on his member firm’s books and records.” In connection with these findings, he was issued a two-month suspension and a fine of $20,000.

A fifth disclosure concerns a sanction against Mr. Davenport by the State of Connecticut Insurance Department. Filed in 2021, it alleged that he “and other individuals in his employ, one of which was unlicensed, impersonated two clients on thirteen phone calls to an insurer” without the customers’ knowledge or authorization. He was issued a fine of $10,000.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, John Davenport holds 34 years of securities industry experience. Based in Norwalk, Connecticut, he has been an investment advisor with J. Davenport Advisors since October 2023. His past registrations include Blackridge Asset Management, Liberty Partners Financial Services, Modern Capital Advisors, Securities America, FSC Securities Corporation, The Retirement Group, SII Investments, Davenport & Associates, Royal Alliance Associates, Prime Capital Services, SunPoint Securities, Merrill Lynch, and Smith Barney. He is licensed in Connecticut. (Information current as of December 4, 2023.)

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.