Noel Ray Vincent of Houston Texas a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested between $100,000.00 and $500,000.00 in damages based on accusations of breach of fiduciary duty relating to direct participation program and limited partnership transactions by Vincent during the time that he was employed by Madison Avenue Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00755 (March 31, 2021). According to the claim, the customer received unsuitable investment advice from Vincent regarding alternative investments. The claim also alleges that Madison Avenue Securities failed to supervise Vincent.
FINRA Public Disclosure shows that Vincent has been identified in 23 additional customer initiated investment related disputes involving allegations of his misconduct while registered with securities broker dealers, including Madison Avenue Securities and Investors Capital Corp. Vincent is the subject of a customer initiated investment related arbitration claim which was settled for $87,568.30 in damages based upon allegations of misrepresentation and unsuitable trading relating to alternative investments, including oil and gas securities and direct investments. According to the claim, Investors Capital Corp violated Texas Securities Act. The customer was allegedly defrauded.
On July 23, 2020, a customer initiated investment related FINRA securities arbitration claim concerning Vincent’s activities was settled for $65,000.00 in damages founded upon accusations that Vincent gave the customer unsuitable advice concerning DPPs and LPs at Madison Avenue Securities. FINRA Arbitration No. 19-01438.
On November 9, 2020, another customer filed an investment related FINRA securities arbitration claim involving Vincent’s conduct where they sought $300,000.00 in damages supported by allegations of unsuitable GPB recommendations which resulted in losses. FINRA Arbitration No. 20-03404.
On November 25, 2020, a different customer initiated investment related FINRA securities arbitration claim regarding Vincent’s activities was resolved for $135,520.72 in damages based on accusations of FINRA rule violations relating to alternative investment transactions initiated by Vincent when he was registered with Madison Avenue Securities. FINRA Arbitration No. 20-01252. The claim alleges that misrepresentations and omissions were made by the stockbroker. The customer’s account was allegedly overconcentrated in direct investments. According to the claim, Madison Avenue Securities failed to perform due diligence before making investment recommendations.
Vincent is also the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $39,998.00 in damages founded upon allegations of Vincent’s unsuitable recommendation relating to UDF IV. FINRA Arbitration No. 20-02303 (December 10, 2020). On April 23, 2021, an additional customer initiated investment related FINRA securities arbitration claim involving Vincent’s activities was settled for $425,000.00 in damages based on allegations of unsuitable real estate investment trust and direct participation program transactions when Vincent was associated with Madison Avenue Securities. FINRA Arbitration No. 20-02612.
Another customer initiated investment related FINRA securities arbitration claim concerning Vincent’s conduct was resolved for $80,000.00 in damages supported by accusations of an inappropriate investment in GPB because of Vincent and Madison Avenue Securities. FINRA Arbitration No. 20-02445 (August 18, 2021).
Vincent was registered as a stockbroker of Madison Avenue Securities between November 6, 2009, and April 30, 2018. Between June 11, 2018, and August 27, 2018, he was registered with Ele Wealth Advisors Inc.
