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Raymond James & Associates Broker Fred Stow Sued and Fired for Allegedly Stealing Client Funds

business-861325_1920-300x225Fred Stow (CRD#: 864436), formerly a registered representative with Raymond James & Associates in Nashville, Tennessee, is involved in a pending dispute in which a customer is alleging that he stole client funds, according to his BrokerCheck record accessed on August 9, 2019. The customer is alleging “breach of fiduciary duty, conversion, unjust enrichment, tortious interference with contract, tortious interference with business relationships and constructive trust” and requesting $911,500 in damages. The client alleges that the activities in question took place from October 2015 to April 2019.

Fred Stow is not currently affiliated with a firm. On May 29, 2019, Raymond James & Associates terminated him “for misappropriating funds from customer accounts.”

Fred Stow’s career spans 40 years, during which time he has worked for eight firms, many based in the Nashville area:

  • Raymond James & Associates, Inc. (CRD#: 705) of Franklin, Tennessee — Vice President from September 2013 to June 2019
  • Wells Fargo Advisors, LLC (CRD#: 19616) of Brentwood, Tennessee
  • SunTrust Investment Services, Inc. (CRD#: 17499) of Nashville, Tennessee — Vice President from June 2005 to September 2010
  • SunTrust Capital Markets, Inc. (CRD#: 6271) of Atlanta, Georgia
  • Robert W. Baird & Co. Incorporated (CRD#: 8158) of Milwaukee, Wisconsin — Assistant Vice President from June 2000 to January 2005
  • Northwestern Mutual Investment Services, LLC (CRD#: 2881) of Milwaukee, Wisconsin
  • SunTrust Equitable Securities (CRD#: 6271) of Atlanta, Georgia — Assistant Vice President at SunTrust Robinson Humphrey from June 1989 to June 2000
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#: 7691) of New York, New York — Senior Financial Advisor/Taxable Bond Coordinator from December 1978 to June 1989

Fred Stow holds a B.A. in Economics and History from Vanderbilt University, graduating in 1977. He obtained the Chartered Retirement Planning Counseling (CRPC) credential from the College for Financial Planning in 2006. The College for Financial Planning was originally affiliated with the Certified Financial Planner Board of Standards until they parted ways in 1984. The College for Financial Planning still offers prep courses to prepare students to take the CFP exam; however, it is not affiliated with the CFP Board of Standards and is a for-profit educational institution run by Kaplan.

According to his LinkedIn profile, “My investment experience runs from the late 1970s, when interest rates were over 10% and inflation was rampant, to today when the American economy is reaping the benefits of low rates and blossoming technology companies which have added to the productivity of a global workforce. My background is in liquid securities; equities, taxable bonds, mutual funds, municipal bonds, and ETFs. For most families, diversification is the key to managing risk.”

If you’ve done business with Fred Stow and have questions about your investments, please don’t delay in contacting Marc Fitapelli or Jonathan Kurta, experienced securities attorneys with Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com.

 

 

 

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