Lyle Jude Boudreaux of Houston Texas a stockbroker formerly associated with Independent Financial Group LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested $384,732.00 in damages supported by allegations that the stockbroker’s exchange traded fund transactions failed to be suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-03168 (Oct. 23, 2019).
FINRA Public Disclosure reveals that Boudreaux has been referenced in four more customer initiated investment related disputes concerning accusations of his wrongdoing when he was associated with Independent Financial Group. On May 5, 2017, a customer initiated investment related complaint in reference to Boudreaux was resolved for $80,000.00 in damages based upon accusations that the customer sustained losses because of being placed in an inappropriate exchange traded fund position.
On June 26, 2018, a customer initiated investment related arbitration claim involving Boudreaux’s conduct was settled for $90,000.00 in damages based upon allegations of negligence and the violation of securities laws in regard to the leveraged exchange traded funds sold to the customer between 2014 and 2016. FINRA Arbitration No. 17-00681. According to the claim, a contract was breached by way of the stockbroker’s actions at Independent Financial Group.
Boudreaux is also referenced in a customer initiated investment related arbitration claim which was settled for $155,000.00 in damages based upon allegations that the customer suffered unwarranted losses between 2015 and 2016 because of Boudreaux inappropriately placing the customer in a leveraged exchange traded fund. FINRA Arbitration No. 18-00378 (Nov. 30, 2018).
On February 25, 2019, another customer initiated investment related complaint concerning Boudreaux’s activities was resolved for $120,000.00 in damages founded on accusations that information was not properly disclosed to the Independent Financial Group customer concerning alternative investments including oil and gas securities as well as an exchange traded fund sold by the stockbroker. The complaint also alleges mismanagement and breach of fiduciary duty.
FINRA Public Disclosure also reveals that Boudreaux was discharged by prior securities broker dealer Merrill Lynch Pierce Fenner Smith based upon allegations of the stockbroker’s unauthorized transactions. His registration with Independent Financial Group was terminated as of January 31, 2020. Boudreaux has been associated with TCFG Wealth Management LLC since February 6, 2020.
