Last Updated: February 2025 (Jonesboro, AR)
National securities fraud lawyers at Patil Law, P.C. are investigating current St. Bernard Financial Services broker Adam Kennon Brown (CRD #4905935) regarding allegations of unsuitable options trading and excessive risk-taking that resulted in significant customer losses. The investigation stems from a recently filed FINRA arbitration claim seeking $350,000 in damages.
Critical Insights About Jonesboro Financial Advisor Adam Brown
- Advisor Name: Adam K. Brown
- CRD: 4905935
- Location: Jonesboro, AR
- Current Employer: St. Bernard Financial Services, Inc.
- Classification: Registered Representative & Investment Adviser Representative
- Primary Location: 300 W. Jefferson, Jonesboro, AR 72401
- Can Adam Brown be sued in FINRA arbitration: Yes
- Customer Disputes: One pending claim
- Current Registrations: Licensed in Arkansas
- Years of Experience: Since 2005
- Previous Employers: SWS Financial Services Inc. (2010-2012), Wells Fargo Advisors LLC (2008-2010), A.G. Edwards & Sons Inc. (2005-2008)
- Professional Qualifications: Series 7 and Series 66 licenses
- Business Name: Banks and Brown (DBA)
- Current Status: Active with St. Bernard Financial Services
Details Of Current Investigation
A FINRA arbitration claim filed in January 2025 alleges:
- Unsuitable options trading recommendations
- Excessive risk-taking with customer accounts
- Significant losses in options investments
- Account opened December 2021 and closed early 2024
- Damages sought exceed $350,000
- Claims seeking additional punitive damages
Analysis Of Alleged Misconduct
The allegations raise serious concerns about:
- Investment suitability
- Risk disclosure practices
- Options trading supervision
- Portfolio management
- Client risk tolerance assessment
- Trading strategy implementation
- Protection of client interests
Regulatory Framework And Investor Protection FINRA Rule 2111 (Suitability) requires:
- Reasonable basis for recommendations
- Client-specific suitability analysis
- Proper risk assessment
- Clear disclosure of risks
- Documentation of client objectives
- Appropriate account monitoring
FINRA Rule 2360 (Options) mandates:
- Special supervision of options trading
- Specific disclosure requirements
- Client qualification verification
- Position limits compliance
- Risk management procedures
Professional Background Mr. Brown’s career includes:
- Entry into securities industry in 2005
- Multiple firm transitions
- Current role at St. Bernard Financial since 2012
- Both broker and investment adviser registrations
- Options trading experience
- Insurance product sales under DBA name
Red Flags for Investors
- Pending arbitration claim
- Options trading losses
- High-risk investment strategy
- Recent customer complaints
- Multiple firm changes
- Significant damage allegations
- Trading supervision questions
- Risk disclosure concerns
Implications For Current and Former Clients, Current and former clients should:
- Review all account statements
- Examine options trading activity
- Verify risk tolerance documentation
- Check investment objectives
- Monitor account performance
- Document communications
- Assess portfolio losses
- Consider independent review
Patil Law, P.C Will Help You Recover Your Investment Losses.
If you have concerns about investments made with Mr. Syslo or questions about how your accounts were handled, please contact Attorney Patil online or call (800) 950-6553 for a free initial consultation. Our securities fraud attorneys work on a contingency fee basis, meaning we only get paid if we help you recover money.
