Columbus, Ohio financial advisor Tom Bates (CRD# 1037294) allegedly gave misleading investment advice, according to a recent investor complaint. Financial...Read More
Rhett Fordham: $100K Complaint Against LPL, Ex-Raymond James Advisor
Franklin, Tennessee financial advisor Rhett Fordham (CRD# 4592437) has received multiple investor complaints alleging his conduct resulted in losses. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with LPL Financial, doing business as Fordham Investment Management.
Mr. Fordham’s BrokerCheck report discloses several investor complaints. The most recent, filed in November 2022, alleges that as a representative of Raymond James Financial Services, he recommended unsuitable structured note investments. The pending complaint alleges damages of $100,000.
In a statement included with the pending complaint’s disclosure, Mr. Fordham wrote that he denied the allegations and described the claim as meritless. “The customers knew exactly how the Structured Notes worked and were fully aware of all risks associated with them, but chose Structured Notes over Government Bonds, Municipal Bonds, Corporate Bonds and all types of bond funds, CDs and Annuities because of the attractive yield,” he commented. “I was shocked to learn of this matter and will adamantly defend myself and clear my name.”
An earlier complaint, filed in 2014, alleged that as a representative of Fifth Third Securities, he misrepresented material facts relating to investments in a federal home loan mortgage bond and a unit investment trust. In 2015 the complaint reached a settlement of $23,250.
According to the Financial Industry Regulatory Authority, Rhett Fordham holds 19 years of securities industry experience. Based in Franklin, Tennessee, he has been a broker and an investment advisor with LPL Financial since 2017, doing business as Fordham Investment Management. His past registrations include Raymond James Financial Services (Franklin, Tennessee; 2013-2017), Fifth Third Securities (Franklin, Tennessee; 2008-2013), Merrill Lynch (Nashville, Tennessee; 2007), Riversource Distributors (Minneapolis, Minnesota; 2007), Ameriprise Financial Services (Minneapolis, Minnesota; 2006-2007), SunTrust Investment Services (Atlanta, Georgia; 2003-2006), and New England Securities (New York, New York; 2002-2003). His 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. He is licensed in Alabama, Connecticut, Georgia, Kentucky, and Tennessee. (Information current as of December 17, 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.