The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Travis Dillard. According to his publicly available FINRA BrokerCheck report, Travis Dillard has been the subject of multiple customer disputes over the course of his career.

Travis Dillard is an Arizona based securities broker. He has worked in the securities industry for thirty-two years. During his career, he has been registered with seven different securities firms.

His Registrations

  • Prudential-Bache Securities (1988-1990)
  • Sutro & Co. (1990-1996)
  • Citigroup Global Markets (1996-2004)
  • Morgan Stanley DW (2004-2007)
  • Morgan Stanley & Co. (2007-2009)
  • Morgan Stanley (2009-2015)
  • Wells Fargo Clearing Services (2015-Present)

The Allegations

  • In April 2003, a customer alleged that Travis Dillard breached his fiduciary duty, recommended unsuitable investments, failed to follow instructions, breached the duty of good faith and fair dealing, managed their account negligently, caused lost opportunity, and committed securities fraud. This case was settled for $97,500 in damages.
  • In March 2009, a customer alleged that Travis Dillard recommended unsuitable investments.
  • In August 2009, a customer alleged that Travis Dillard did not properly manage her account. This case was settled for $50,000 in damages.
  • In August 2016, customers alleged that Travis Dillard recommended unsuitable equity investments. This case was settled for $30,000 in damages.
  • In October 2016, another customer alleged that Travis Dillard recommended investments that were unsuitable for them. This case was settled for $87,500 in damages.

What Does This Mean?

Securities brokers have a duty to their customers as their fiduciary to only recommend investments that they (the customers) would actually be financially suited for. Brokers can determine this suitability by analyzing financial information provided to them that is specific to every given customer. This includes the customer’s financial situation, risk tolerance, investment objectives, and liquidity needs. Brokers who invest their clients contrary to their specific factors, whether fraudulently or negligently, have placed their customers in genuine jeopardy. Securities unsuitable for customers based on these factors can cause investors to experience significant financial harm.

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 Travis Dillard, 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.