Jack Howard Owens Jr. of Lady Lake Florida a stockbroker associated with Gradient Securities LLC has been referenced in a customer initiated investment related arbitration claim which has been resolved for $65,000.00 in damages based upon accusations that between December of 2017 and February of 2018, the customer was placed into bad variable annuities which generated unwarranted losses and exposed the customer to hefty penalties upon liquidation. FINRA Arbitration No. 18-01227 (Aug. 8, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Owens has been referenced in seven more customer initiated investment related disputes concerning accusations of his misconduct during the time that the stockbroker was employed by securities broker dealers including Gradient Securities. In particular, on May 1, 2018, a customer filed an investment related complaint concerning Owens’ activities where the customer sought damages estimated to exceed $5,000.00 founded on accusations that when Owens was employed by Gradient Securities, false or misleading statements had been made in regard to variable annuities. On February 8, 2019, two customers filed investment related complaints involving Owens’ conduct in which the customers requested unspecified damages based upon allegations that misrepresentations had been made to them regarding annuities.
FINRA Public Disclosure also reveals that Owens has been assessed civil and administrative fines by Florida Department of Financial Services supported by allegations that investment recommendations which Owens made failed to be suitable for an elderly customer when the stockbroker had been employed by Gradient Securities. Florida Department of Financial Services Consent Order No. 131832-13-AG.
Owens’ registration with Gradient Securities has been terminated as of June 1, 2018.
