Jeffrey Donald Noard (CRD#: 1983392), a registered broker and investment advisor has been accused of misconduct, according to his profile with the Financial Industry Regulatory Authority, Inc. (FINRA). Allegations include that he recommended and sold illiquid, high commission, unsuitable investments to customers. One customer is requesting damages in the amount of $100,000.
At Meyer Wilson, we are experienced, trusted investment and securities fraud attorneys. We help clients nationwide recover investment losses related to broker misconduct and other wrongdoing. To date, we have secured over $350,000,000 for our clients. If you have sustained losses after being sold GWG L Bonds by Jeffrey Noard or another broker, contact our office at (614) 532-4576 for a free consultation.
As noted in Jeffrey Noard’s BrokerCheck report, the broker is the subject of a pending customer dispute. The allegations include that he recommended and sold customers over $1.1 million in illiquid, high-commission direct investments (DPP & LP interests), equity listed (common & preferred stock) Investments, and real estate securities.
Additionally, the customer has stated that the high-risk investments were unsuitable. They are claiming damages in the amount of $100,000. Noard was employed with Cabot Lodge Securities, LLC from June 14, 2013, until June 26, 2020. He is currently a registered representative of Emerson Equity, LLC.
The pending customer dispute is not the only disclosure on Noard’s report. In 2014, FINRA issued a regulatory finding against the broker ending in a civil and administrative penalty/fine and a suspension.
A disciplinary proceeding complaint issued by the Department of Enforcement notes that in June 2012, Jeffrey Noard made unsuitable recommendations to an elderly customer of Allied Beacon Partners, Inc. while he was a registered representative of the firm. The investment recommendation involved GWG L Bonds issued by GWG Holdings, Inc. The bonds are reportedly “illiquid, speculative investments that involve a high degree of risk.”
The regulatory agency found that Noard’s recommendations were not suitable based on the client’s risk tolerance. Additionally, the board found that he did not adequately disclose the risks to the client. The recommendation and sale of the renewable debentures resulted in a loss to the client. As a result, Noard was fined and suspended.
Individuals who were recommended or sold GWG L Bonds by Jeffrey Noard are strongly encouraged to contact an investment misconduct attorney.
Noard has also been discharged from employment with Wells Fargo Advisors, LLC after allegedly violating firm policies and procedures. In a telephone call with an insurance company, he reportedly acted as the husband to obtain an annuity for the couple.
If you suffered losses after investing with Jeffrey Noard, you might be able to recover losses through FINRA arbitration or a lawsuit. Contact our office at (614) 532-4576 to schedule a free consultation.