Mario Joseph Payne of Jacksonville Florida a stockbroker currently employed by Raymond James Financial Services Inc. is the subject of a customer initiated investment related written complaint on May 18, 2018 in which the customer sought $20,000.00 in damages supported by allegations that between November 10, 2017 and February 8, 2018, the customer was placed in stocks that were both misrepresented and inappropriate for the customer’s financial circumstances.
Raymond James denied the customer’s claim, and without more, the claim may be without merit.
Almost ten years ago, there was another complaint. Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally reveals that on March 25, 2009, a customer filed an investment related complaint regarding Payne’s activities where the customer requested damages estimated to exceed $5,000.00 based upon accusations of Payne’s misconduct while at Edward Jones including: unauthorized trading of unit investment trust investments in the customer’s account; misrepresentations concerning investment returns; trades having been effected in the customer’s account on an unsuitable basis; and the failure to provide the customer a prospectus at the time that the customer’s investments had been selected.
This claim was also denied, and without more, the claim may be also without merit.
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