Noel Ray Vincent of Southfield Michigan a stockbroker formerly registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based upon allegations that (1) the customer’s assets were handled in a negligent manner (2) fiduciary duties were breached (4) facts had been fraudulently concealed from the customer in regard to the real estate security and oil and gas investments sold to the customer while Vincent was registered with Investor’s Capital Corp. and Madison Avenue Securities LLC. FINRA Arbitration No. 18-04130 (Dec. 5, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Vincent has been identified in fifteen additional customer initiated investment related disputes pertaining to accusations of his misconduct during the period in which he was associated with Investors Capital Corp. and Madison Avenue Securities LLC. Particularly, a customer filed an investment related arbitration claim in regards to Vincent’s activities in which the customer requested $100,000.00 in damages supported by allegations that transactions effected in the customer’s account failed to be suitable for the customer, and misrepresentations had been made concerning debentures, real estate securities, mutual funds, equipment leasing products and fixed annuities sold to the customer when Vincent was employed by Madison Avenue Securities. FINRA Arbitration No. 17-03104 (Nov. 20, 2017).
Subsequently, a customer filed an investment related arbitration claim involving Vincent’s conduct where the customer sought $500,000.00 in damages founded on accusations that fiduciary duties owed to the customer had been breached; the customer’s account had been handled with poor care; and false or misleading statements had been made concerning alternative investments including oil and gas, insurance and direct participation program or limited partnership interests which the customer was advised to purchase. FINRA Arbitration No. 17-00029 (Jan. 12, 2017).
Additionally, a customer initiated investment related arbitration claim concerning Vincent’s activities was settled for $19,000.00 in damages based upon allegations of misrepresentations and omissions concerning United Development Funding III and United Development Funding IV investments sold to the customer; and lack of due diligence on direct investments prior to recommendations being made to the customer. FINRA Arbitration No. 17-00818 (Jan. 18, 2018).
Vincent is also subject of a customer initiated investment related arbitration claim which was resolved for $35,000.00 in damages on July 11, 2018 supported by accusations that the customer was placed into bad alternative investments including real estate securities when Vincent was associated with Investors Capital Corp or Madison Avenue Securities LLC. Also, a customer filed an investment related arbitration claim regarding Vincent’s activities in which the customer requested $295,000.00 in damages founded on allegations that the customer suffered unwarranted losses on business development company investments, real estate securities, mutual funds, direct investments and equipment leasing products. FINRA Arbitration No. 18-00701 (Feb. 21, 2018).
Moreover, on November 1, 2018, a customer filed an investment related arbitration claim involving Vincent’s conduct where the customer sought as much as $500,000.00 in damages based upon accusations of negligence, breach of fiduciary duty, misrepresentation, and fraud relating to Vincent’s sale of real estate security products to the customer. FINRA Arbitration No. 18-03702 (Nov. 1, 2018).
Vincent’s registration with Madison Avenue Securities LLC has been terminated as of April 30, 2018. Between June 11, 2018 and August 27, 2018, Vincent was employed by Ele Wealth Advisors Inc.
