Garden City, New York financial advisor (CRD# 5225102) has received multiple investor complaints alleging that his investment recommendations led to...Read More
Mary Wilcox: Oil & Gas Complaint Against Phoenix JW Cole Advisor
An investor complaint against JW Cole Financial advisor Mary Wilcox (CRD# 2589120) details allegations concerning an oil and gas investment. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor based in Phoenix, Arizona.
Ms. Wilcox’s BrokerCheck report discloses one investor complaint. Filed in April 2022, it alleges that she sold an oil and gas limited partnership investment “was not researched and vetted,” which contributed to a loss of the principal invested. The pending complaint alleges damages of $25,000.
FINRA Rule 2111 establishes the requirement that brokers like Mary Wilcox “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for the customer to whom they recommend it, based on reasonable diligence into the customer’s investment profile: their age, net worth, financial situation, investment experience and objectives, risk tolerance, other factors. Brokers are required to form a reasonable basis to believe the recommendation is suitable for at least some investors, and that the recommendation is suitable for the specific customer they’re working with. Brokers who make unsuitable investment recommendations may be liable in the event of losses.
According to the Financial Industry Regulatory Authority, Mary Wilcox holds 27 years of securities industry experience. Based in Phoenix, Arizona, she has been a broker with JW Cole Financial since 2003 and an investment advisor with JW Cole Advisors since 2002. Her past registrations include Jonathan Roberts Financial Group (Tampa, Florida; 2000-2003) and 1st Global Capital Corporation (Dallas, Texas; 1995-2000). Her credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. She is licensed in Arizona, Arkansas, California, Colorado, Delaware, Florida, Idaho, Illinois, Kentucky, Michigan, New Mexico, New York, Ohio, and Oregon. (Information current as of September 3, 2022.)
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.