Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 2, 2016 indicate that Minnesota-based Woodbury Financial Services broker/adviser Jon Nicholson has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Nicholson (CRD# 1089359).
Jon Nicholson has spent 33 years in the securities industry and has been registered with Woodbury Financial Services in Oakdale, Minnesota since 2006. Previous registrations include Sammons Securities Company in Edina, Minnesota (2003-2006); Woodbury Financial Services in Oakdale, Minnesota (1989-2003); American Skandia Marketing in Shelton, Connecticut (1989); and NWNL Management Corporation in Des Moines, Iowa (1983-1989). He is a registered broker and investment adviser in 23 US states and territories, including: Arizona, California, Colorado, Florida, Indiana, Iowa, Maryland, Massachusetts, Minnesota, New Mexico, Oregon, Texas, and Washington.
According to his BrokerCheck report, Jon Nicholson has been the subject of one customer complaint.
In 2013, a customer alleged that Jon Nicholson, while employed at Woodbury Financial Services, recommended an unsuitable investment and misrepresented material facts related to an investment in an equipment leasing fund. The complaint settled in 2014 for $58,000, to which Mr. Nicholson individually contributed $14,500.
Federal securities law prohibits brokers like Jon Nicholson from making untrue or false statements that can mislead their clients, an act referred to as “misrepresentation.” This also includes omitting material facts regarding an investment, or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has a complaint regarding Jon Nicholson, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.