A significant investigation has been launched into the conduct of Nashville, Tennessee-based financial advisor Jason Price Lamb, who is currently registered with Arete Wealth Management, LLC. The investigation follows a staggering surge in customer complaints filed in 2024, with claimants alleging more than $1 million in damages tied to unsuitable investment recommendations.
If you or someone you know has suffered significant investment losses working with Jason Lamb, Arete Wealth Management, or another brokerage firm, don’t hesitate to reach out to Meyer Wilson Werning today. Our attorneys are experienced in securities fraud cases and will help to guide you through the process with a free consultation to determine whether your losses are the result of actionable misconduct.
Overview of Jason Price Lamb’s Regulatory Record
Jason Lamb (CRD# 3248356) has over 25 years of experience in the securities industry. While his career spans five different firms, his recent record is marked by a sudden and dramatic increase in customer disputes.
Important Points from the Regulatory Record:
- 11 total disclosures currently appear on his professional record.
- 10 customer disputes were filed against him in 2024 alone, most within a single four-month window.
- 1 regulatory action from 2014 involved a failure to supervise the sale of illiquid, high-risk investments.
- $1,015,000 in total damages was requested in the settled August 2024 disputes alone.
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Detailed Breakdown of 2024 Complaints Against Jason Lamb
The recent wave of complaints primarily focuses on allegations of unsuitable investment recommendations. Investors often claim they were placed into high-risk or illiquid products that did not align with their financial goals or risk tolerance.
Summary of Recent Customer Disputes:
- December 2, 2024: A pending claim for an unsuitable recommendation with $100,000 in damages requested.
- November 8, 2024: A settled claim for an unsuitable recommendation; requested $250,000 and settled for $3,000.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $110,000 and settled for $110,000.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $86,000 and settled for $6,000.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $105,000 and settled for $8,250.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $100,000 and settled for $100,000.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $100,000 and settled for $100,000.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $220,000 and settled for $8,250.
- August 23, 2024: A settled claim for an unsuitable recommendation; requested $184,000 and settled for $8,250.
In his responses to these claims, Jason Lamb has consistently denied making any recommendations or sales to these clients, suggesting he was named only because of his association with a former broker-dealer that is no longer in business.
Historical Supervision Concerns and Regulatory Action
Beyond the recent surge in client complaints, Jason Lamb has a history of regulatory discipline. In 2014, FINRA sanctioned him for a failure to supervise sales of high-risk alternative investments.
Findings from the 2014 Action:
- The case involved approximately $770,000 and affected nine customers.
- Lamb paid a $10,000 fine and served a two-month suspension from all principal capacities.
- Regulators found that he failed to address “red flags” or confirm the suitability of high-risk debentures for his clients.
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Recovering Your Losses Through Arbitration
The history of disputes involving Jason Lamb demonstrates the financial harm that can result from potential broker misconduct. At Meyer Wilson Werning, we represent individuals who have suffered losses due to firms failing in their duty to supervise or making unsuitable recommendations.
If you suffered losses tied to Jason Lamb or Arete Wealth Management, LLC, contact us today so our team can review your case, evaluate potential claims, and pursue recovery through arbitration or other legal options. We focus exclusively on representing investors to hold responsible parties accountable.
Frequently Asked Questions
What are the main allegations against Jason Lamb?
The majority of the 10 customer disputes filed in 2024 involve allegations of unsuitable investment recommendations. These claims relate to high-risk or illiquid products that were allegedly inappropriate for the investors’ financial situation.
Has Jason Lamb been disciplined by regulators?
Yes. In 2014, FINRA fined Jason Lamb $10,000 and suspended him for two months for failing to supervise the sales of high-risk alternative investments totaling approximately $770,000.
Can I recover money if my advisor’s former firm went out of business?
Yes. While Jason Lamb has claimed he is being named because a former firm closed, investors often pursue compensation from the responsible advisor or current firm through arbitration regardless of the former firm’s status.
What legal options do investors have if they lost money with Jason Lamb?
Most investors are required to pursue recovery through arbitration, where claims of unsuitable recommendations and poor supervision can be presented to seek compensation for losses.
Recovering Losses Caused by Investment Misconduct.
