Options for Clients of Raymond James & Associates, Inc. Broker Edward Fernberger Jr.
Posted on Monday, August 9th, 2021 at 6:12 pm
Were you the victim of Raymond James & Associates, Inc. broker Edward Fernberger Jr. (CRD# 206743)? Fernberger has been registered with Raymond James & Associates, Inc. in Doylestown, Pennsylvania since 2016.
Fernberger has been the subject of one customer complaint, according to his CRD report:
April 2021. “Deceased clients successor trustee and executor alleges FA made unsuitable recommendation to pledge investment account as collateral for a bank loan and overconcentrated client’s accounts in energy securities, including MLPs. Successor trustee and executor also alleges that client’s risk tolerance was improperly increased to moderately aggressive. Allegation Activity Dates: 3/8/16 – 3/31/21.” The customer is seeking $200,000 in damages and the case is currently pending. The complaint was regarding sector concentration and a margin/stock loan.
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, Raymond James & Associates, Inc. may be liable for investment or other losses suffered by Fernberger’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.