Broker Investigation: Jodi Padgett

Jodi Padgett (CRD#: 1828918) is an actively registered broker and investment advisor. Since 1995, Ms. Padgett has been registered as a representative at Royal Alliance Associates in Prescott, Arizona.

In March of 2018, the Financial Industry Regulatory Authority (FINRA) launched an investigation into the conduct of Ms. Padgett. Specifically, they are examining her alleged failure to disclose outside business activities.

On November 15th, 2018, FINRA filed a complaint against Royal Alliance Associates financial advisor Jodi Padgett. Here, our securities fraud attorneys review the allegations against this broker.

FINRA Complaint: Royal Alliance Associates Representative Jodi Padgett

Under FINRA Rule 3270, registered representatives are prohibited from engaging in outside business activities unless they disclose the activity and receive pre-approval from their member firm.

In its complaint, FINRA alleges that Ms. Padgett, along with two other representatives at Royal Alliance Associates (John Farmer and Charles Taylor), participated in undisclosed, unapproved outside business activities dating back to 1999.

Specifically, FINRA alleges that Jodi Padgett referred Royal Alliance customers to a dealer who sold precious metal bullion coins. FINRA contends that she failed to seek permission for this conduct and that it was against the policy of her member firm. In total, FINRA believes that Ms. Padgett made $5,676 in improper commissions.

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