Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on October 13, 2016 indicate that New Jersey-based Janney Montgomery Scott broker/adviser James Routhier has received a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. Routhier (CRD# 2067926).
James Routhier has spent 26 years in the securities industry and has been registered with Janney Montgomery Scott in Bedminster, New Jersey since January 2016. Previous registrations include Oppenheimer & Company in Florham Park, New Jersey; Morgan Stanley Smith Barney in Warren, New Jersey; Morgan Stanley & Company in Morristown, New Jersey; Wachovia Securities in Florham Park, New Jersey; First Union Capital Markets in Charlotte, North Carolina; Ryan Beck & Company in Florham Park, New Jersey; and DH Blair & Company in New York, New York. He is a registered broker and investment adviser with thirteen US states and territories: Arizona, California, Colorado, Connecticut, Florida, Illinois, Iowa, Nevada, New Jersey, New York, Pennsylvania, South Carolina, and Virginia.
According to his BrokerCheck report, James Routhier is the subject of one pending customer complaint and was discharged from his position at Morgan Stanley Smith Barney.
In July 2016 a customer alleged James Routhier, while employed at Oppenheimer & Company, recommended the purchase of unsuitable mutual funds that were equity-based and over concentrated in the energy and gas sector. The customer is seeking $300,000 in damages in the pending complaint.
In 2012 James Routhier was terminated from his position at Morgan Stanley Smith Barney following allegations involving “Loss of management confidence related to employee’s conduct in connection with a private loan.”
A mutual fund is a variety of investment that combines a collection of stocks, bonds, or other securities. The collection is referred to as a portfolio. Each share of a portfolio represents the investor’s ownership of the fund’s holdings and the income generated by these holdings. Mutual funds typically generate money for investors either by way of dividends on stocks and interests on bonds, or a capital gain on the sale of securities. Mutual funds also allow you to receive a check for the distributions or simply reinvest the earning into more shares. They are often inexpensive and easy to purchase; they also generally allocate risk well, and bring the benefit of professional management. However, they may also come with hidden fees, and trigger a capital gains tax when a fund manager sells a security. Brokers and investment advisers who engage in misconduct related to mutual fund investments may also be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with James Routhier, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup your losses. All cases are taken on contingency, which means Fitapelli Kurta only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.