The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Stuart Nichols. According to his publicly available FINRA BrokerCheck report, Stuart Nichols has been the subject of a FINRA sanction.

Stuart Nichols was an Alabama based securities broker. He worked in the securities industry for thirteen years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Sterne Agee Financial Services (2005-2008)
  • Morgan Keegan & Company (2008-2013)
  • Raymond James (2013-2018)

The Allegations

In October 2019, Stuart Nichols was officially sanctioned by FINRA. The findings in this matter state that Nichols failed to comply with a FINRA investigation into allegations that he excessively traded the accounts of multiple customers at his member firm. Due to this alleged failure to comply, Stuart Nichols was barred by FINRA from acting as a securities broker in any fashion.

Excessive Trading

Securities brokers have an obligation to their customers to always act in their best financial interests. A major part of this means executing trades in their accounts at a suitable frequency. When a securities broker trades their customer’s account excessively, it can often result in highly unnecessary fees and trading loses. Excessive trading serves no actual benefit to investors and is simply perpetrated through the broker’s own negligence, or a fraudulent intent to increase their own commissions.

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 Stuart Nichols, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.