J.P. Turner & Company is a full-service investment banking, advisory services and brokerage firm. The company was founded by Bill Mello and Tim McAfee in 1997 and has grown to have more than 150 offices nationwide. As of 2014, it numbers nearly 300 representatives. J.P. Turner & Company is headquartered in Atlanta, GA.
Because J.P. Turner & Company is licensed by the Financial Industry Regulatory Authority (FINRA), they are legally obligated to ensure that their brokers are conducting transactions ethically, honestly, and transparently. They are required to ensure this through regular monitoring and detailed supervision. If one of their brokers is found to have caused a client major losses through negligence or fraud, FINRA allows investors to hold J.P. Morgan & Co. legally responsible for repaying any assets lost as a result of their lack of oversight.
As a smaller firm (relatively), J.P. Turner & Co. should have a reasonably easier time providing supervision over its brokers. That may account for its relatively low amount of activity in the past few years—however, there is an incident that may be troubling to potential and current investors.
In 2011, a J.P. Turner broker repeatedly showed signs of fraudulent, unethical trading, but his supervisor did nothing to stop him. Despite multiple reports of troubling behavior, the broker was given only mild warnings that he quickly worked around. After a year of excessive trading, still nothing was done on behalf of the broker’s client. In the end, the client suffered $120,000 in losses due to excessive trading. J.P. Turner and the supervisor were fined $25,000 and were forced to pay a $72,500 settlement to the client.
If a J.P. Turner & Company investment broker caused you significant losses, either through fraud or negligence, FINRA has granted you the right to hold them legally and financially liable for lost assets. However, FINRA is a policing agency and will not fight for your rights—that’s where Meyer Wilson steps in. Our investment fraud lawyers have the skill, resources, and experience to go up against investment firms, no matter how big or well-prepared. Our entire firm’s sole aim is helping clients like you recover your assets. That’s how we managed to secure $350 million for our clients. If you reach out to us, we can help you determine your options and your next step.