Jon Toerner: Why Was Stifel Advisor Fired by Fidelity?

Austin, Texas financial advisor Jon Toerner (CRD# 7330298) was recently fired by his former member firm in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former Fidelity Brokerage Services representative is registered as a broker and an investment advisor with Stifel Nicolaus & Company.

Mr. Toerner’s BrokerCheck report discloses his firing from Fidelity Brokerage Services. Filed in July 2025, it states that the firm terminated him in connection with allegations that he “indicated in firm’s internal system that he spoke with customers when he had not.”

While the disclosure provides no additional context or information regarding the underlying allegations behind Mr. Toerner’s termination from Fidelity Brokerage Services, several FINRA rules may be in play. FINRA Rule 2010, for example, requires associated persons to “observe high standards of commercial honor and just and equitable principles of trade” while conducting their business. FINRA Rule 4511, meanwhile, stipulates that member firms must make and preserve accurate books and records, and that registered representatives may not cause their firm to comply with record-keeping obligations. Brokers who violate these rules may be held subject to disciplinary action by industry regulators.

According to the Financial Industry Regulatory Authority, Jon Toerner holds four years of securities industry experience. Based in Austin, Texas, he has been registered as a broker and an investment advisor with Stifel Nicolaus & Company since September 2025. His past registrations include Strategic Advisers, Fidelity Brokerage Services, Fidelity Personal and Workplace Advisors, and Thrivent Investment Management. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 31 state licenses. (Information current as of October 20, 2025.)

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