PANAMA CITY BEACH, FLORIDA

Are you a current or former client of financial advisor Phil Donahue, with PFS Investments (Primerica), in Panama City Beach, Florida? We are reviewing claims made by FINRA, the Financial Industry Regulatory Authority, against J. Philip Donahue. FINRA suspended Donahue in August 2022 from the securities industry for 30 days and fined him $2,500.

Donahue was being reviewed after customers filed an arbitration claim against PFS Investments regarding Donahue’s recommendation to invest 90% of the investors’ portfolio in an energy sector mutual fund. After the energy sector mutual fund lost 50% of its value, the couple realized a substantial loss and sued Primerica/PFS Investments. Concentrating most of the investors’ money in one sector (energy) was deemed unsuitable by FINRA.

From 1983 to the present, Phil Donahue had his securities license with PFS Investments. He worked in Panama City Beach, Florida. The customer complaint mentioned above settled for $25,000.

Phil Donahue must abide by FINRA rules, including FINRA Rule 2111, which provides that investment recommendations must be suitable for the investor based on factors like age, risk tolerance, financial resources, and others. Moreover, firms like PFS Investments have to reasonably supervise advisors to prevent sales like these.

Our securities arbitration and investment fraud law firm represents investors all over the country, including investors in Florida. We have represented over one thousand investors against numerous brokerage firms, including PFS Investments.

View Donahue, p FINRA AWC

View Donahue, p BrokerCheck 8.11.22

If you lost money with Phil Donahue or PFS Investments, please Contact Us at 720-599-3505 for a free evaluation of your case.