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Nolan Baird Has Recived a Regulatory Sanction

Nolan Baird

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 19, 2017 indicate that Georgia-based Stifel Nicolaus & Company broker/adviser Nolan Baird has been sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Baird (CRD# 1654510).

Nolan Baird has spent 30 years in the securities industry and has been registered with Stifel Nicolaus & Company in Augusta, Georgia since 2013. Previous registrations include Wells Fargo Advisors in Augusta, Georgia (1999-2013); First Union Capital Markets Corporation in Charlotte, North Carolina (1995-1999); Smith Barney in New York, New York (1993-1995); Oppenheimer & Company in New York, New York (1992-1993); Fidelity Brokerage Services in Smithfield, Rhode Island (1991-1992); and the Robinson-Humphrey Company in Atlanta, Georgia (1987-1991). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on June 27, 2003; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 22, 1987; and Series 7 (General Securities Representative Examination), which he obtained on April 18, 1987. He is a registered broker and investment adviser with ten US states and territories: California, the District of Columbia, Florida, Georgia, Michigan, North Carolina, South Carolina, Tennessee, and Virginia. He is registered with six self-regulatory organizations (SROs): Bats BZX Exchange, FINRA, NYSE American LLC, Nasdaq PHLX LLC, the Nasdaq Stock Market, and the New York Stock Exchange.

According to his BrokerCheck report, he has received one regulatory sanction and one denied customer complaint.

In December 2017 he was sanctioned by FINRA following allegations he “improperly used discretion to place 27 trades” in a customer account. FINRA’s findings noted that though he had received the customer’s verbal authorization to exercise discretion, he had not received written authorization to use discretion, and he had additionally not obtained his firm’s acceptance of the client’s account as discretionary. He was issued a fine of $7,500 and a 15-day suspension from associating with any FINRA member in all capacities. The suspension will commence on January 2nd, 2018.

In January 2017 a customer alleged Nolan Baird, while employed at Stifel Nicolaus & Company, breached his fiduciary duty, breached contract, committed fraud, acted negligently, negligently misrepresented material facts related to an investment or investments, made unsuitable investment recommendations, churned the account, and participated in violations of the Georgia Securities Act. The customer sought $50,000 in damages in the complaint, which was denied.

If you or someone you know has lost money investing with Nolan Baird, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. 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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