INVESTORS: Emerson Equity broker Jeffrey Donald Noard was named in a customer dispute alleging various forms of misconduct.
Jeffrey Donald Noard (CRD: 1983392) is registered as a broker with Emerson Equity where he’s been employed since 2020. Noard was previously registered as a broker with Cabot Lodge Securities from 2013 until 2020.
Noard has six disclosures on his BrokerCheck report. One disclosure relates to a personal criminal matter.
February 2023 Customer Dispute
Allegations: Claimants allege Violations of the Wisconsin Uniform Securities Law, negligence, failure to conduct adequate due diligence, failure to act in claimants’ best interest, misrepresentation and omission of material facts, violations of other industry standards of care with respect to FINRA Rules 2010, 2090, 2020 and 3110, breach of fiduciary duty, breach of contract, and respondeat superior, with respect to claimants’ purchase(s) of GWG L-Bonds during 2019.
Damage Amount Requested: $100,000.00
January 2023 Customer Dispute
Allegations: Unsuitable recommendations, material misrepresentation & omissions, control person liability & respondent superior, failure to supervise, and violations of FINRA 2020, FINRA 2010 & IM 2310-2
Damage Amount Requested: $18,500.00
Broker Comment: The filing firm and the registered representative have not received a copy of this claim and are relying on information filed by previous firm.
July 2022 Customer Dispute
Allegations: Cabot Lodge (reps previous firm) and its agents recommended and sold claimants more than 1.1 million n the following illiquid, high commission, high risk investments that are not suitable for the claimants.
Damage Amount Requested: $100,000.00
Settlement Amount: $200,000.00
Broker Comment: The filing firm and the registered representative have not received a copy of this claim and are relying on information filed by the previous firm.
November 2014 Regulatory Judgment
Initiated By: FINRA
Allegations: Noard was named a respondent in a FINRA complaint alleging that he made an unsuitable recommendation for investments in a renewable secured debenture totaling 20,000 to one of his elderly customers at his member firm. The complaint alleges that Noard’s recommended investment committed 50% of the customer’s liquid net worth to the debenture. The debentures are illiquid, speculative investments that involve a high degree of risk-including the risk of losing the entire investment. Noard did not have reasonable grounds for believing that the proposed investment in the debentures was suitable for his customer based upon the financial situation, objective, and needs of the customer.
Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
Sanctions: Money Penalty other than Fines
Registration Capacities Affected: All Capacities
Duration: 10 business days
Start Date: 7/17/2017
End Date: 7/28/2017
Regulator Statement: The sanctions were based on findings that Noard recommended and sold high risk securities and renewable debentures to an elderly customer who was not suited for such investments. The findings stated that Noard failed to make the independent, customer-specific suitability determination and failed to tailor his recommendations to the customer’s financial profile and investment objectives. Noard did not adequately explain the risks associated with the issuer’s debentures. Noard did not have reasonable grounds for believing that the recommendation was suitable for his customer based on the customer’s financial situation, objective and needs. The decision became final June 14, 2017.
June 2010 Employment Separation After Allegations
Firm Name: Wells Fargo Advisors, LLC
Termination Type: Discharged
Allegations: Violation of firm policies and procedures: on a call with an insurance company with wife present acted as if he were the husband in an effort to obtain an annuity for the benefit of husband and wife.
The Sonn Law Group is currently investigating allegations surrounding Jeffrey Donald Noard. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.