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Jodi Padgett: FINRA Complaint Alleges Outside Business Activity by Royal Alliance Rep

Jodi PadgettPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 18, 2018 indicate that Arizona-based Royal Alliance Associates broker/adviser Jodi Padgett has been named in a pending FINRA complaint. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Ms. Padgett (CRD# 1828918).

Jodi Padgett has spent 23 years in the securities industry and has been registered with Royal Alliance Associates in Prescott, Arizona since 1995. She has no previous registrations. She has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which she obtained on October 16, 2004; Series 63 (Uniform Securities Agent State Law Examination), which she obtained on December 20, 1995; SIE (Securities Industry Essentials Examination), which she obtained on October 1, 2018; Series 7 (General Securities Representative Examination), which she obtained on November 29, 1995; and Series 24 (General Securities Principal Examination), which she obtained on January 20, 2016. She is a registered broker and investment adviser with 14 US states and territories: Arizona, California, Colorado, Florida, Illinois, Maine, Nevada, New Mexico, New York, Oregon, Tennessee, Texas, Washington, and Wyoming.

According to her BrokerCheck report, she was recently named in a pending FINRA complaint and has received one customer complaint that was denied.

In November 2018 she was named respondent in a FINRA complaint in connection to allegations she participated in an outside business activity “with a dealer involving the sale of precious metal bullion coins” for which she did not receive firm approval and which she did not disclose to her firm. According to FINRA’s allegations, the activities comprised her referral of individuals to the dealer so they could purchase coins, for which the dealer paid her a referral fee. FINRA alleges that some of her referrals involved firm clients, and that she was acting in violation of firm policy requiring representatives to sell only products which the firm had approved, as well as policy prohibiting representatives from “assisting a customer in the purchase or sale of gold, silver or other precious metals.” FINRA’s complaint remains pending.

In 2016 a customer alleged Jodi Padgett, while employed at Royal Alliance Associates, misrepresented material facts regarding the risks associated with a stop-loss order. The customer sought $42,120 in damages in the complaint, which was denied.

If you have lost money investing with Jodi Padgett, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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