James Michael Armour, of Wayzata, Minnesota, a stockbroker registered with Ausdal Financial Partners Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $150,000.00 in damages based upon allegations that Armour made unsuitable recommendations, breached his fiduciary duties, failed to perform due diligence, and failed to supervise certain registered representatives in connection with the recommendation and sale of oil and gas investments during the time that Armour was associated with Ausdal Financial Partners Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-02672 (November 28, 2022).
This is not the first time that Armour has been referenced in a customer initiated investment related dispute concerning Armour’s conduct in the securities industry. FINRA Public Disclosure shows that Armour is also referenced in a customer initiated investment related civil action in which the customer requested $332,011.00 in damages based upon allegations that Armour made omissions of material fact in connection with the sale of TIC products during the period that Armour was associated with Workman Securities Corporation. Civil Action No. D-1-GN-08-002104 (July 6, 2010). The complaint was subsequently withdrawn.
On September 23, 2019, a customer initiated investment related complaint involving Armour’s conduct was settled for $1,250,000.00 in damages based upon allegations that Armour made unsuitable recommendations, made misrepresentations of material fact, failed to perform due diligence, and failed to supervise certain registered representatives in connection with the recommendation and sale of Bakken Drilling Funds when Armour was associated with Ausdal Financial Partners Inc.
Armour has been associated with Ausdal Financial Partners Inc. in Wayzata, Minnesota, as a stockbroker since April 29, 2011, and as an investment advisor representative since May 10, 2011.
