Tom Reyes: FINRA Bars Former Raymond James Advisor

Former La Vista, Nebraska financial advisor Tom Reyes (CRD# 3168338) was recently sanctioned in connection with improper annuity sales. Financial Industry Regulatory Authority records show that the former Raymond James Financial Services and NEXT Financial Group broker is currently not registered with any broker-dealer firm.

A Letter of Acceptance, Waiver, and Consent (No. 2022074794901) released in June 2024 describes FINRA’s disciplinary action against Mr. Reyes. As it describes, in April 2022 Raymond James Financial Services filed a disclosure stating that it had undertaken an internal review into whether Mr. Reyes participated in an undisclosed outside business activity. In August 2022, it filed another disclosure stating that this review concluded that he had “sold annuities that were not on the firm’s approved product list away from the firm.”

In June 2024, the AWC Letter continues, FINRA sent him a request to provide testimony in connection with its investigation into these disclosures by Raymond James, and Mr. Reyes indicated through counsel that he would not comply with the request. FINRA concluded that his refusal violated FINRA Rules 8210 and 2010, issuing him a permanent bar from associating with any member firm in all capacities.

According to the Financial Industry Regulatory Authority, Tom Reyes holds 23 years of securities industry experience. Most recently based in La Vista, Nebraska, he was last registered with NEXT Financial Services from April 2022 until July 2023. His past registrations include Raymond James Financial Services, First National Capital Markets, Securian Financial Services, Pruco Securities, Securities America, MML Investors Services, American Express Financial Advisors, and IDS Life Insurance Company. His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; 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; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Combined State Law Examination, or Series 66. He has been barred from associating with any FINRA member firm. (Information current as of June 25, 2024.)

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