Barred Raymond James Broker Ma’on Adams
Marion Strickler Adams III faced permanent disqualification from engaging with any Financial Industry Regulatory Authority (FINRA) member due to non-compliance with an investigation concerning misappropriation of funds. The sanction was solidified in the Letter of Acceptance, Waiver, and Consent No. 2021073056501, issued on March 5, 2024.
At Meyer Wilson, we continuously observe the financial industry to ensure that professionals adhere to the highest standards of integrity and regulatory compliance. One case that underscores the importance of this commitment involves Marion Strickler Adams III, also known as Ma’on Adams, formerly associated with Raymond James Associates Inc., out of Mobile, Alabama.
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The Start of the Investigation
The investigation into Adams began following a report by Raymond James Associates Inc. on November 5, 2021. They submitted a Uniform Termination Notice for Securities Industry Registration (Form U5), indicating Adams’s departure on October 7, 2021. This development came after an estate executor alleged that Ma’on Adams might have engaged in unauthorized reallocation of estate assets while he was the executor.
In reaction to these serious charges, FINRA sought Adams’s testimony on February 6, 2024, as per Rule 8210. Adams, through his attorney, refused to comply on February 7, 2024. This refusal constituted violations of FINRA Rules 2010 and 8210, culminating in his banishment from the profession.
Other Incidents Involving Marion Strickler Adams III
Delving into FINRA’s Public Disclosure records reveals Adams’s contentious financial activities. On July 6, 2021, a customer allegation accused Adams of possible misappropriation of estate assets from July 1, 2017, to July 6, 2021. This complaint was closed on February 23, 2022, without further action by the customer.
Adams’s career history shows his association with The Jeffrey Matthews Financial Group LLC in Mobile, Alabama, from January 19, 2022, to March 5, 2024. Previously, he was with Raymond James Associates Inc., also based in Mobile, from February 13, 2013, to November 5, 2021.
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How Our Attorneys Can Help
The case of Marion Strickler Adams III is a crucial reminder of the need for transparency and cooperation in the financial industry. It highlights the thorough standards enforced by entities like FINRA to maintain the integrity of financial markets and protect investor interests.
It’s imperative for professionals and investors to remain alert, ensuring that their actions and those of their colleagues adhere to legal and ethical standards. The repercussions of cases such as Adams’s not only affect the individuals involved directly but also serve as a powerful deterrent against potential broker misconduct within the financial community.
If you believe you have been a victim of financial misconduct or if you require guidance on ensuring your investments are managed ethically, please do not hesitate to contact Meyer Wilson. Our dedicated team is committed to safeguarding your interests. Reach out to us at 866-938-2021 or visit our website at investorclaims.com for more information.
Written By: Courtney Werning
Recovering Losses Caused by Investment Misconduct.