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Les Miles: Why Was Vanderbilt Advisor Fired by First Heartland?

Starkville, Mississippi financial advisor Les Miles (CRD# 5157562) was recently fired by his former member firm in connection with allegations of alleged rule violations. Financial Industry Regulatory Authority records show that the former First Heartland Capital broker is currently registered with Vanderbilt Securities.

Mr. Miles’ BrokerCheck report discloses his termination from First Heartland Capital. Filed in May 2024, it states that the firm fired him in connection with allegations of his “failure to follow firm policy to disclose his roles in all outside business activities.” The disclosure provides no additional information regarding the circumstances that gave rise to his firing.

Investors should be aware that FINRA Rule 3270 prohibits brokers like Mr. Miles from participating in unapproved outside business activities. “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm,” the rule states specifically, “unless he or she has provided prior written notice to the member, in such form as specified by the member.” Registered representatives who violate this rule may be subject to disciplinary action by their member firms or by securities industry regulators.

Miles Tax Service’s website includes a profile of Mr. Miles that describes his background and experience. “Les Miles, CMA started Miles Tax in 1973,” it states. “He graduated with his Bachelor of Accountancy in 1969, then became a licensed CMA. He is also a licensed life and health insurance agent and holds three securities licenses.”

According to the Financial Industry Regulatory Authority, Les Miles holds 17 years of securities industry experience. Based in Starkville, Mississippi, he has been registered as a broker with Vanderbilt Securities since May 2024. His past registrations include First heartland Capital (Starkville, Mississippi; 2018-2024), Woodmen Financial Services (Omaha, Nebraska; 2014-2018), and Miles Financial Group (Starkville, Mississippi; 2006-2014). His credentials include the passage of four securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Mississippi. (Information current as of June 22, 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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