John Wheeler Was Issued a Six Month Suspension and a $20,000 Fine

John WheelerPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on April 20, 2017 indicate that former Florida-based Raymond James Financial Services broker/adviser John Wheeler has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Wheeler (CRD# 1068503).

John Wheeler has spent 32 years in the securities industry and was most recently registered with Raymond James Financial Services in Clearwater, Florida (1988-2015). Previous registrations include American Express Financial Advisors and IDS Financial Services. He is currently not registered with any state or firm.

According to his BrokerCheck report, John Wheeler has been sanctioned by FINRA and was discharged from his former employer.

In April 2017 FINRA sanctioned him following allegations he “failed to disclose to his member firm that he received compensation in exchange for serving as a customer’s Power of Attorney (POA) and Health Surrogate, and in exchange for paying her bills on a regular basis over a ten year period.” According to FINRA’ findings, Mr. Wheeler “received about $7,300 in payments for services rendered from the customer through seven checks he wrote against her checking account” and “served as the POA for the customer without first obtaining the firm’s approval or disclosing his POA-related activities to it.” He also allegedly served as “the personal custodian of all funds held in the customer’s checking account and in contravention of the firm’s written policies and procedures, never sought or received specific written authorization from an officer of the firm to serve as custodian to the customer’s funds” and misrepresented his outside business activities to the firm for a period of six years. He was issued a six-month suspension and a fine of $20,000.

In 2015 he was terminated from his position at Raymond James Financial Services following allegations he “was acting as a health care surrogate, a durable POA and took check writing authority for a non-family member client’s account in violation of firm policy.”

If you or someone you know has a complaint regarding John Wheeler, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited by law, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.