Raymond James Financial Advisor Disclosures Include Four Customer Disputes

Customer complaints filed against Maria Hendershott have resulted in damage awards of nearly $500,000 since 1994

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Maria E. Hendershott (CRD# 818681) is a currently registered broker and investment advisor. Since 2006, Ms. Hendershott has been a registered representative with Raymond James & Associates based in Houston, Texas. Ms. Hendershott has four disclosures on her BrokerCheck profile, all of them are customer disputes, dating back to 1994.

The most recent dispute was filed on November 27, 2018, alleging breach of contract, promissory estoppel, breach of fiduciary duty, vicarious liability, and several violations of Texas securities and deceptive trade practices law. The complaint is requesting $500,000 in damages and is currently listed as “pending.”

Another recent dispute was filed in October 2017 and alleged gross mismanagement of accounts, investor abuse, churning, breach of fiduciary duty, negligence, and violation of industry rules between June 30, 2014, and July 31, 2015. The complaint sought $100,000 in damages but was later settled for $75,000. Similar to the other two previous disclosures, Ms. Hendershott was not asked to participate in the settlement process.

Prior to that, a dispute was filed in January 2016 and alleged a Texas Securities Act Claim, suitability issues, over-concentration, breach of fiduciary duty, fraud by misrepresentation and omission, and negligent misrepresentation. The allegations covered the period from February 3, 2006, to December 31, 2015, and sought damages of $1.5 million. According to the disclosure, the dispute was settled for “business reasons” for $285,000 and Ms. Hendershott was not asked to participate in the settlement process.

The oldest complaint was filed in 1994, alleging unsuitable investments and misrepresentations and seeking damages of approximately $150,000. At the time, Ms. Hendershott was registered with First Union Securities. According to the disclosure, the firm settled the matter for $20,000, and Ms. Hendershott was not asked to contribute to any portion of the settlement.

Brokers and financial advisors have a legal obligation only to recommend investments that are suitable for their clients’ investment objectives. Similarly, brokerage firms have an obligation to supervise their brokers’ activity and sales practices. If these duties are breached, an investor may be entitled to recovery.

If you invested with Maria Hendershott or Raymond James & Associates and incurred financial losses, you may be entitled to compensation. Contact Sonn Law Group today by filling out our form to submit a confidential message or calling us anytime at 866–827–3202 to schedule a free consultation.