March, 2025 | Based in Graham
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Essential Information About J. Brian Glaze
- Full Name: Brian Glaze
- CRD Number: 5373140
- Current Location: Graham, NC
- Current Employers:
- Avantax Advisory Services (Investment Advisor Representative)
- Avantax Investment Services, Inc. (Registered Representative)
- Office Address: 845 S. Main St., Suite 200, Graham, NC 27253
- Registration Status: Currently registered with 1 SRO and licensed in 9 U.S. states
- State Licenses: Florida, Georgia, Indiana, Maryland, North Carolina, South Carolina, Tennessee, Virginia, Washington
- Experience: In the industry since 2007 (18 years)
- FINRA BrokerCheck: Two customer disputes regarding structured products
- Previous Employers: LPL Financial LLC (2012-2022), IFG Advisory LLC (2015-2022), SunTrust Investment Services (2007-2012)
- Ability to Recover Losses: Eligible for FINRA arbitration claims within applicable timelines
The Mounting Concerns Over J. Brian Glaze’s Investment Practices
Our securities fraud attorneys are currently investigating allegations against financial advisor J. Brian Glaze (CRD# 5373140) concerning potentially unsuitable investment recommendations, particularly involving complex structured products. With two formal customer disputes on his record—including a recent $250,000 settlement and another pending case—investors who worked with Glaze through either Avantax or his previous employer LPL Financial should carefully review their portfolios.
The pattern of complaints suggests a concerning trend: clients allege they were placed in high-risk structured products that didn’t align with their stated investment objectives or risk tolerance. These specialized investment vehicles often contain layers of complexity that many retail investors struggle to fully understand, creating an environment where advisors have a heightened fiduciary responsibility to ensure proper disclosure and suitability.
Understanding the Allegations Against J. Brian Glaze
According to FINRA BrokerCheck records, Glaze has been the subject of formal customer complaints, with the most significant resulting in a substantial settlement. Here’s what we know about the disclosed complaints:
Settled Customer Dispute (2023-2024)
A customer filed a FINRA arbitration claim (Case #23-00805) in April 2023, alleging that Glaze recommended investments in structured products that were unsuitable given the client’s risk tolerance. The complaint specifically covered investment activities between August 2021 and May 2022—a period when Glaze was affiliated with LPL Financial LLC.
Despite initially contesting the allegations, LPL Financial ultimately settled the claim for $250,000 in August 2024. According to Glaze’s statement in the BrokerCheck report, “LPL Financial made a business decision to resolve this matter without any admission of liability whatsoever in order to avoid the cost and distraction of further proceedings.”
Pending Customer Dispute (2024-Present)
More recently, in June 2024, another customer filed a FINRA arbitration claim (Case #24-01163) also alleging unsuitable investments in structured products. This case remains pending, with potential damages exceeding $5,000. The similarity between this pending case and the previously settled matter raises questions about a potential pattern in Glaze’s investment recommendations.
J. Brian Glaze’s Professional Background
To better understand the context of these complaints, it’s important to review Glaze’s career history and qualifications:
Glaze entered the securities industry in August 2007, initially working for SunTrust Investment Services until December 2012. He then moved to LPL Financial LLC, where he remained for nearly a decade (December 2012 to September 2022). During part of his tenure at LPL, he was also registered with IFG Advisory, LLC (February 2015 to September 2022).
In September 2022, Glaze transitioned to his current positions with Avantax Advisory Services and Avantax Investment Services, Inc. Notably, this move occurred shortly after the first customer complaint was likely initiated (though formally filed in April 2023).
Regarding qualifications, Glaze has passed several industry examinations, including:
- Securities Industry Essentials (SIE) Examination
- General Securities Representative Examination (Series 7)
- Investment Company Products/Variable Contracts Representative Examination (Series 6)
- Uniform Combined State Law Examination (Series 66)
- Uniform Securities Agent State Law Examination (Series 63)
Glaze has not obtained any professional designations according to his BrokerCheck report, though he maintains registrations in nine states and is affiliated with several business entities, including BGLW LLC DBA Envision Wealth Partners.
Red Flags: Understanding the Issues with Structured Products
The allegations centered on structured products deserve particular attention, as these complex investment vehicles often present significant risks that may not be appropriate for average retail investors. Here are some concerning aspects of structured products that might explain the customer complaints:
Complexity and Opacity
Structured products typically combine multiple financial instruments, such as bonds and derivatives, creating layered investment vehicles that can be difficult for non-specialists to understand. This complexity can make it challenging for investors to fully grasp the risks involved.
Limited Liquidity
Many structured products lock up investor capital for extended periods, with significant penalties for early withdrawal. This illiquidity can create serious problems if investors need access to their funds unexpectedly.
High Fees and Hidden Costs
The multi-layered nature of structured products often results in multiple levels of fees that may not be transparent to investors. These costs can significantly erode returns over time.
Concentrated Risk
Despite marketing that might emphasize “protection” features, structured products can expose investors to concentrated risks, including issuer credit risk, market risk, and complex derivative exposures.
Questionable Suitability for Retail Investors
Financial advisors have a responsibility to ensure investments match clients’ objectives, risk tolerance, and financial sophistication. The complaints against Glaze suggest potential failures in this fundamental obligation.
Legal and Regulatory Framework: What Rules May Have Been Violated
The allegations against J. Brian Glaze potentially implicate several critical FINRA rules that govern broker conduct:
FINRA Rule 2111 (Suitability)
This cornerstone regulation requires that brokers have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s investment profile. The rule demands consideration of the investor’s age, financial situation, tax status, investment objectives, and risk tolerance.
FINRA Rule 2010 (Standards of Commercial Honor)
This broad ethical standard requires brokers to observe high standards of commercial honor and just and equitable principles of trade. Recommending unsuitable investments could violate this fundamental principle.
FINRA Rule 2020 (Use of Manipulative, Deceptive or Other Fraudulent Devices)
If structured products were misrepresented or key risks were not adequately disclosed, this could constitute a violation of Rule 2020.
FINRA Rule 3110 (Supervision)
This rule requires firms to establish and maintain a system to supervise the activities of each associated person. The settlements may indicate potential supervisory failures at LPL Financial during Glaze’s tenure there.
SEC Fiduciary Standard
As a registered investment adviser representative, Glaze would also be subject to fiduciary obligations under the Investment Advisers Act of 1940, requiring him to put clients’ interests ahead of his own.
Guidance for Investors Who Worked with J. Brian Glaze
If you were a client of J. Brian Glaze at any point during his career, particularly during his time at LPL Financial between 2012 and 2022 or more recently at Avantax, you should consider the following steps:
1. Review Your Account Statements and Investment Holdings
Carefully examine your portfolio, paying special attention to any structured products, complex investments, or positions that have performed poorly. Look for investments that seem inconsistent with your stated investment objectives or risk tolerance.
2. Assess Your Investment Objectives vs. Actual Portfolio
Compare your actual investment holdings against the investment objectives and risk tolerance you communicated to your advisor. Were you placed in investments that were more aggressive or complex than you authorized?
3. Document All Communications
Gather all communications with Glaze and his firms, including emails, letters, account opening documents, and notes from meetings or phone calls. This documentation can be crucial for establishing what was disclosed versus what was actually implemented.
4. Consider the Statute of Limitations
FINRA arbitration claims generally must be filed within six years of the event giving rise to the claim. However, this timeframe can be complicated by when you reasonably should have discovered the problem. Don’t delay in seeking legal advice if you suspect misconduct.
5. Consult with a Securities Attorney
A specialized securities fraud attorney can help evaluate whether you have a potential claim based on unsuitable investments, inadequate disclosure, or other misconduct.
How Our Investment Fraud Attorneys Can Help
Our securities litigation firm specializes in helping investors recover losses caused by broker misconduct. Here’s how we assist clients dealing with potential investment fraud:
Forensic Account Analysis
Our team conducts a detailed forensic analysis of your investment accounts to identify potential misconduct, unsuitable recommendations, or undisclosed conflicts of interest. We look for patterns that might indicate problematic investment strategies.
Regulatory Navigation
We have deep expertise in FINRA rules and regulations, allowing us to identify specific violations that can strengthen your claim. Our attorneys have extensive experience with the FINRA arbitration process.
Damages Calculation
We work with financial experts to accurately calculate the full extent of your losses, including opportunity costs and appropriate interest. This thorough approach ensures you seek comprehensive recovery.
Contingency Fee Representation
We handle investment fraud cases on a contingency fee basis, meaning we only get paid if we recover money for you. There are no upfront costs, and the initial consultation is completely free.
FINRA Arbitration Expertise
Our attorneys have successfully represented countless investors in FINRA arbitration proceedings, the primary forum for resolving disputes between investors and their brokers. We understand how to effectively present claims in this specialized venue.
The Structured Products Problem: A Broader Industry Issue
The case against J. Brian Glaze highlights a larger issue within the financial services industry: the sale of complex structured products to retail investors. Brokerage firms often incentivize advisors to sell these products through higher commissions and revenue-sharing arrangements, potentially creating conflicts of interest.
Industry data shows that structured products frequently underperform simpler, more transparent investments when accounting for their fees and structural limitations. Yet they continue to be marketed heavily to retail investors, who may not fully understand their mechanics or hidden risks.
The Financial Industry Regulatory Authority (FINRA) has repeatedly issued investor alerts about structured products, warning about their complexity, lack of transparency, and potential unsuitability for many retail investors. Despite these warnings, complaints about unsuitable structured product recommendations remain common.
In Glaze’s case, the $250,000 settlement and additional pending claim suggest the possibility of a systematic problem rather than isolated incidents. The timeline of these complaints—occurring near the end of his tenure at LPL Financial and continuing after his transition to Avantax—raises questions about whether adequate supervision was in place at either firm.
Recovering Investment Losses: Your Legal Options
If you believe you’ve suffered losses due to unsuitable investment recommendations by J. Brian Glaze or other financial advisors, several potential recovery paths exist:
FINRA Arbitration
The most common method for resolving disputes with brokers is through FINRA’s arbitration system. This process is generally faster and less formal than court litigation, with cases typically resolved within 12-16 months.
Direct Negotiation
In some cases, brokerage firms may be willing to negotiate settlements directly, particularly when the evidence of misconduct is clear. Our attorneys can often secure compensation through this route without proceeding to a full arbitration hearing.
Regulatory Complaints
Filing complaints with regulators like FINRA, the SEC, or state securities divisions can trigger investigations that may result in restitution orders. While this approach doesn’t guarantee recovery, it can create additional pressure on firms to resolve legitimate claims.
Class Actions
When numerous investors have suffered similar harm from the same misconduct, class action litigation may be appropriate. This approach can be particularly effective for addressing systematic problems at larger institutions.
Don’t wait to take action if you suspect investment misconduct. The clock is ticking on potential claims, and delays can compromise your ability to recover losses. Our investment fraud attorneys stand ready to evaluate your case and fight for the compensation you deserve.
Worried about potential investment misconduct? Our securities fraud attorneys offer confidential case evaluations at no cost. Call 800-950-6553 today or submit our secure online form to discuss your concerns with an experienced investment fraud lawyer.
