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Former Axa Advisors, LLC Financial Advisor Chad Hornaday Barred by FINRA

Posted on Monday, September 18th, 2017 at 10:01 am    

Erez Law is currently investigating former Axa Advisors, LLC financial advisor Chad Hornaday (CRD# 2776038) regarding selling unregistered securities and embezzling money. Hornaday was registered with Axa Advisors, LLC in Carlsbad, California from 2013 to 2016 when he was terminated regarding, “RR was permitted to resign after the firm began conducting an internal review based upon allegations that RR received loans from a client and made an investment away from the firm.” Previously, Hornaday was registered with National Planning Corporation in Lake Forest, California from 2009 to 2013.

In May 2017, Hornaday was barred by FINRA after he failed to respond to a request for information and failed to request termination of his suspension within three months of the date of the Notice of Suspension.

Hornaday has been the subject of one customer complaint, according to his CRD report:

June 2017. “Claimant alleges RR solicited personal loans, embezzled monies by selling non-existent and unregistered securities, engaged in “selling away” and made unsuitable recommendations from 2013 to 2016.” The customer is seeking $453,000 in damages and the case is currently pending.

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, Axa Advisors, LLC may be liable for investment or other losses suffered by Hornaday’s customers.

Erez Law represents investors in the United States for claims against former Axa Advisors, LLC financial advisor Chad Hornaday regarding selling unregistered securities and embezzling money. If you were a client of Axa Advisors, LLC or another firm, and 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.