Were you the victim of former Cabot Lodge Securities LLC broker Jeffrey Noard (CRD# 1983392) who is accused of unsuitable investment recommendations? He has been registered with Emerson Equity LLC in Menomonee Falls, Wisconsin since 2020. Previously, he was registered with Cabot Lodge Securities LLC in Menomonee Falls, Wisconsin from 2013 to 2020 and with Cl Wealth Management LLC in Menomonee Falls, Wisconsin from 2011 to 2020. He was also registered with the following brokerage firms:
- Allied Beacon Partners, Inc. in Milwaukee, Wisconsin from 2011 to 2013
- American Beacon Wealth Management, Inc. in Eau Claire, Wisconsin from 2010 to 2011
- American Beacon Partners, Inc. in Milwaukee, Wisconsin from 2010 to 2011
- American Beacon Wealth Management, Inc. in Eau Claire, Wisconsin in July 2010
- Wells Fargo Advisors, LLC in Waukesha, Wisconsin from 2008 to 2010
He was terminated from Wells Fargo Advisors, LLC regarding: “violation of firm policies and procedures: on a call with an insurance company with wife present acted as if he were the husband in an effort to obtain an annuity for the benefit of husband and wife.”
In 2014, he was named a respondent in a FINRA complaint that alleged that he made unsuitable investment recommendations related to a renewable secured debenture totalling $20,000, which was approximately 50% of the elderly customer’s liquid net worth. According to the complaint, “The debentures are illiquid, speculative investments that involve a high degree of risk-including the risk of losing the entire investment. Noard did not have reasonable grounds for believing that the proposed investment in the debentures was suitable for his customer based upon the financial situation, objective, and needs of the customer.” He was sanctioned to pay a $2,500 civil and administrative penalty, a $3,017.49 monetary penalty and fine, an additional $1,563.10, and she was suspended for 10 days in 2017.
Jeffrey Noard Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
July 2022. “Cabot Lodge (reps previous firm) and its agents recommended and sold claimants more than 1.1 million in the following illiquid, high commission, high risk investments that are not suitable for the claimants.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint was regarding direct investments, common and preferred stocks, and real estate securities.
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, Cabot Lodge Securities LLC may be liable for investment or other losses suffered by Jeffrey Noard’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.