Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Andrew Lilly (Lilly), currently associated with Raymond James Financial Services, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Lilly concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $75,000.00 on December 19, 2023.
Claimants allege FA made unsuitable recommendations to purchase and hold a REIT investment and allegedly failed to disclose that the investment paid high commissions and was illiquid.