Jonathan David Cummings, of Hurst, Texas, a stockbroker formerly registered with Securities America Inc. and Investacorp Inc., is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $35,000.00 in damages based upon accusations of negligence as it pertained to alternative investments, including a real estate security transaction effected by Cummings while he was registered with Securities America and Investacorp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02609 (October 15, 2021).
Cummings has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct while he was employed by Investacorp and AXA Advisors. FINRA Public Disclosure shows that a customer initiated investment related complaint involving Cummings’ conduct was settled for $158,962.92 in damages founded on accusations of the customer not being provided with a step-up feature on a variable annuity investment sold through Cummings at AXA Advisors.
On May 18, 2021, a customer initiated investment related arbitration claim regarding Cummings’ activities was resolved for $55,000.00 in damages supported by allegations of unsuitable business development company (BDC) and real estate investment trust (REIT) transactions by Cummings during the time that he was associated with Investacorp. FINRA Arbitration No. 20-01807.
Between December 14, 2009, and July 17, 2020, Cummings was employed by Investacorp Inc. and Investacorp Advisory Services Inc. He was registered with Securities America Advisors as an investment adviser representative between July 17, 2020, and December 10, 2020. Since December 14, 2020, Cummings has been associated with LPL Financial LLC as both a stockbroker and investment adviser representative.