James Robert Reynolds of Minneapolis, Minnesota, a stockbroker registered with Northland Securities Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $95,000.00 in damages based upon allegations that Reynolds made the unsuitable investment recommendation of non-traded Real Estate Investment Trust (“REITs”) or direct investments when Reynolds was associated with Northland Securities Inc. FINRA Arbitration No. 21-01616 (May 27, 2022).
This is not the first time that Reynolds has been accused of sales practice violations by a customer of a securities broker dealer. FINRA Public Disclosure shows that Reynolds, while associated with Northland Securities Inc., faced another customer initiated investment related FINRA securities arbitration claim regarding his conduct. This claim, involving allegations of unsuitable recommendations in over-the-counter equities purchased in October 2013, was settled for $80,000.00. FINRA Arbitration No. 16-01489 (May 11, 2017).
Reynolds has been associated with Northland Securities Inc. in Minneapolis, Minnesota since September 16, 2002. He has also been associated with Northland Asset Management at the same location since May 30, 2008.
