According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Mark Tudor (Tudor), in October 2018, was accused by his former employer, Raymond James Financial Services, Inc. (Raymond James) of selling unapproved products. In addition, Tudor’s disclosures reveal two financial disclosures and two customer complaints. Thereafter, Tudor became associated with investment advisory firm Collaborative Wealth.
In October 2018 Raymond James terminated Tudor claiming that Tudor was terminated for introducing clients to investments away from the firm without approval and was not helpful when being interviewed by firm counsel.
Tudor’s disclosures include four outside business activities (OBAs) including Tudor Wealth Management, Reik Wealth Management, Young Living, and Positive Path which Tudor owns. At this time it is unclear whether the unapproved products involve any of these entities. The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”.