Former Hornor, Townsend & Kent, Inc. broker Janie Garza-Clark (CRD# 1010752) was barred by FINRA related to accepting gifts from a client without disclosing it to her member firm, a form of investment fraud. She was registered with TCFG Wealth Management, LLC in Scottsdale, Arizona from 2017 to 2020, when she was terminated regarding, “After a full internal investigation it was identified that the Registered Representatives husband was the trustee of a clients account established at her previous employment. The Representative accepted personal checks from a client and did not report it on her gift log per company policy.”
Previously, she was registered with Sagepoint Financial, Inc. in Scottsdale, Arizona from 2016 to 2017. Prior to that, she was registered with Hornor, Townsend & Kent, Inc. in Scottsdale, Arizona from 1993 to 2015, when he was terminated regarding, “The RR was terminated for failure to comply with the policies of the Firm and its parent insurance company, regarding: (1) accepting blank or incomplete forms and reusing client signatures on multiple forms; (2) handling and timely submission of applications, and prompt transmittal of checks and securities; (3) advertising and sales literature policies, including failing to submit advertising for approval; and (4) social media policies, including not submitting a LinkedIn account for monitoring.”
In April 2022, FINRA barred Janie Garza-Clark following the failure to appear for on-the-record testimony related to her relationship and potential receipt of cash gifts from that client.
Janie Garza-Clark Customer Complaints
She has been the subject of three customer complaints between 2010 and 2020, one of which was denied, according to her CRD report:
June 2020. “FINRA claim alleging sale by former registered representative of an unsuitable investment resulting in loss of $950,000. Causes of action are: Unsuitability; Fraud; Breach of Contract; Breach of Fiduciary Duty; Negligent Supervision, Violation of Arizona Consumer Fraud Act; Violation of Arizona Securities Act. It seeks unspecified actual and punitive damages, interest, costs and attorneys’ fees.” The customer sought $950,000 in damages and the case was settled for $290,000. The complaint took place while she was registered with Hornor, Townsend & Kent, Inc. and it was regarding direct investments.
October 2015. “Client alleges that nothing was explained regarding the transfer penalty and the nine year surrender charge. The client has requested to “free look” the contract.” The case was settled for $290,549. The complaint took place while she was registered with Hornor, Townsend & Kent, Inc. and it was regarding variable annuities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Hornor, Townsend & Kent, Inc. may be liable for investment or other losses suffered by Janie Garza-Clark’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form below for a free consultation.
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