Charles Obryant Allegedly Invests Clients Unsuitably

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Charles Obryant. According to his publicly available FINRA BrokerCheck report, Charles Obryant has been the subject of multiple customer disputes.

Charles Obryant was North Carolina based securities broker. He worked in the securities industry for thirty-seven years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• Smith Barney, Harris Upham & Co. (1979-1980)


• E.F. Hutton & Company (1980-1985)


• Carolina Securities Corporation (1985-1988)


• Thomas McKinnon Securities (1988-1989)


• Legg Mason Wood Walker, Incorporated (1989-2003)


• Powell Johnson (2003-2004)


• Stifel, Nicolaus & Company Incorporated (2004-2016)


• Thompson Davis & Co. (2016-2017)

The Allegations

• In December 2013, a customer alleged that Charles Obryant purchased stocks without their knowledge or approval.


• In October 2014, customers alleged that the purchases of specific securities by Charles Obryant were both unauthorized and outside their risk parameters.


• In October 2015, customers alleged that Charles Obryant managed their account negligently, recommended unsuitable investments, and breached his fiduciary duty. This case was settled for $632,298 in damages. Charles Obryant was discharged from his position at Stifel, Nicolaus & Company Incorporated after the firm lost confidence in his abilities due to the settlement of this complaint.


• In December 2016, customers alleged that Charles Obryant managed their account negligently, recommended unsuitable investments, executed unauthorized trades, violated FINRA rules, breached his fiduciary duty, and breached contract. This case was settled for $95,000 in damages.


• In March 2017, a customer alleged that Charles Obryant breached his fiduciary duty, churned their account, and recommended unsuitable investments. This case was settled for $330,000 in damages.

What Does This Mean?

Securities brokers have an obligation to their customers to always act in their best financial interests. This obligation is also known as their duty as a fiduciary. In order to live up to this duty, brokers must only recommend investments that their customers are actually financially suited for. Brokers can determine this suitability by looking at financial information provided to them by their customers. This includes the customer's age, investment objectives, risk tolerance, and liquidity needs. Investors can incur significant financial losses when their brokers invest them contrary to these factors. Brokers who do so in either a negligent or fraudulent manner are not suited for their positions.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Charles Obrynt, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.