UPDATE! JEFFREY B. PIERCE and MIDAMERICA FINANCIAL SERVICES
Jeffrey B. Pierce and MidAmerica Financial Services
Have you lost money with financial advisor Jeffrey B. Pierce from Quincy, Massachusetts? We previously blogged about Jeffrey Pierce, a former financial advisor with MidAmerica Financial Services. FINRA (the Financial Industry Regulatory Authority) recently barred Pierce from the securities industry after he failed to respond to a FINRA investigation. FINRA began investing Jeffrey Pierce after allegations surfaced that he converted or stole customer funds during 2011 and 2012.
Jeffrey Pierce was also recently the subject of an investigation by the Massachusetts Securities Division. The Massachusetts Securities Division brought an administrative complaint, making numerous allegations against Jeffrey Pierce, including that he made unauthorized withdrawals from his client’s annuities to pay off his own personal debts and into his own account as well. It was alleged that he made at least 16 withdrawals over a two-year span.
Pierce was also alleged to have solicited clients to invest in the Ava Rose Financial Money Fund. However, at the time of the solicitations, Ava Rose Financial no longer existed as an entity.
Jeffrey B. Pierce previously worked at several Sovereign Bank branch offices, including one in Dorchester. Pierce was a financial advisor and registered representative of MidAmerica Financial Services from September 2009 to December 2013. He also was affiliated with SagePoint Financial from February 2009 to June 2009, and with Investors Capital Corp. from June 2008 to September 2008.
In October 2013, FINRA (the Financial Industry Regulatory Authority) suspended Jeffrey B. Pierce for six months and fined him $25,000. Pierce has also been the subject of at least five customer complaints, and he was terminated from at least two brokerage firms.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Massachusetts and throughout the Northeast. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
If your advisor recommended investments with Jeffrey B. Pierce or MidAmerica Financial Services, please Contact Us at 720-599-3505 for a free evaluation of your case.
Click to view: Pierce FINRA AWC