Shomari Hearn: Why Was Palisades Hudson Advisor Fired?

Former Fort Lauderdale, Florida financial advisor Shomari Hearn (CRD# (https://www.google.com/url?q=https://adviserinfo.sec.gov/individual/summary/5026079&sa=D&source=editors&ust=1766341195965711&usg=AOvVaw1SXQzKi7ZQIlWzuhgUeBVR)5026079 (https://www.google.com/url?q=https://adviserinfo.sec.gov/individual/summary/5026079&sa=D&source=editors&ust=1766341195965863&usg=AOvVaw2_ENIkevB5VwKbj36djd0r)) was recently terminated from his former member firm in connection with alleged rule violations. Securities and Exchange Commission records show that Shomari Hearn is not currently registered with any investment advisory or broker-dealer firm.

Mr. Hearn’s Investment Adviser Public Disclosure form discloses his termination from Palisades Hudson Asset Management. Filed in October 2025, the disclosure states that the firm fired him in connection with allegations that he failed to comply with firm policies regarding record-keeping, the disclosure of personal transactions, and the disclosure of potential conflicts of interest. The form provides no additional information or context regarding the underlying activities that gave rise to his firing.

Various securities industry rules and regulations concern the disclosure of conflicts of interest. Perhaps most important is the fiduciary standard for investment advisers, as established by the (https://www.google.com/url?q=https://www.sec.gov/about/divisions-offices/division-trading-markets/broker-dealers/staff-bulletin-standards-conduct-broker-dealers-investment-advisers-conflicts-interest&sa=D&source=editors&ust=1766341195967122&usg=AOvVaw2VLWYdvhdMoIQVEz4HH1ii)Investment Advisers Act of 1940 (https://www.google.com/url?q=https://www.sec.gov/about/divisions-offices/division-trading-markets/broker-dealers/staff-bulletin-standards-conduct-broker-dealers-investment-advisers-conflicts-interest&sa=D&source=editors&ust=1766341195967282&usg=AOvVaw0XKPZo7uRby86gj__1OZnm).

Under this vital industry standard, advisers must uphold a fiduciary duty to their clients, which in essence means that they may not place their own interests ahead of the investor’s. Among other things, the fiduciary standard requires advisers to fully and fairly disclose potential conflicts of interest that might render their recommendations or advice not disinterested. The SEC’s Regulation Best Interest establishes a similar requirement, specifically obliging representatives to “make full and fair disclosure to the retail customer of all material facts relating to conflicts of interest that are associated with the recommendation” at the time they make it. Representatives who violate these standards may be subject to disciplinary action or found liable for damages.

According to the Securities and Exchange Commission, Shomari Hearn holds 19 years of securities industry experience. Most recently registered in Fort Lauderdale, Florida, he was last registered as an investment adviser with Palisades Hudson Asset Management from 2005 until 2025. He has no previous registrations and is not currently registered with any state or firm. (Information current as of December 20, 2025.

If you lost money making investments through Shomari Hearn that were not in your best interests, you may have a claim to recover money lost through bad investments. Contact our law firm today for a free consultation. 1-833-372-8311 today.