Over the last 12 years, Oakes & Fosher has tried and won more FINRA arbitration cases on behalf of individual investors than any other law firm in the country.

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Oakes & Fosher is presently investigating the possible misconduct of former securities broker Frederick Stow. According to his publicly available FINRA BrokerCheck report, Frederick Stow has been the subject of a customer dispute.

Frederick Stow operated most recently as a Tennessee based securities broker. He worked in the securities industry for forty years. During his career, he was registered with six different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Merrill Lynch (1979-1989)
  • Suntrust Equitable Securities (1989-2000, 2005-2010)
  • Northwestern Mutual Investment Services (2002)
  • Robert W. Baird & Co. (2000-2005)
  • Wells Fargo (2010-2013)
  • Raymond James (2013-2019)

The Allegations

In July 2019, a customer alleged that Frederick Stow misappropriated their funds. They also alleged that he breached his fiduciary duty, engaged in unjust enrichment, and engaged in tortious interference with contract. This case is currently pending. The customer is seeking $911,500 in damages. Frederick Stow was terminated from his position at Raymond James two months prior when the allegations first came to light.

What Does This Mean?

Investors place their money in the hands of securities brokers because they believe it will be invested responsibly on their behalf. Unfortunately, this is not always the case. Sometimes, less than scrupulous securities brokers run rampant with investor funds and fail to invest it as they stated they would. This could be because the broker wants to invest it in an undisclosed security that the customer would otherwise not have approved. It could be that the broker simply diverts the funds and sits on them in the hope that the investment the customer wanted to be invested in goes down. Or it could be that the securities broker diverts the money to his personal account and uses it for his own personal use. All of these constitute as misappropriation and is unequivocally one of the worst acts a securities broker can do.

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 believe that they have lost money in this manner 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 Frederick Stow, 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.