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Troy Howard, Birmingham Broker with Raymond James & Associates, Sued for Breach of Fiduciary Duty

Troy Howard (CRD#: 2264121), a Birmingham, Alabama-based registered representative with Raymond James & Associates, Inc. (CRD#: 705), is currently involved in a pending customer dispute, according to his BrokerCheck record accessed on October 24, 2019. In a customer complaint filed on September 20, 2019, a client alleged that Troy Howard engaged in “Breach of Fiduciary Duty, Negligence, Breach of Contract, Violations of the Alabama Securities Act, [and] Violations of Sections 10(b) of the Securities Exchange Act and Rule 10b-5 of the Securities and Exchange Commission.” The client is seeking $160,000 in damages.

Troy HowardThis is not the first time Troy Howard has had to face a customer complaint; he was previously sued for $2 million. On March 17, 2008, Troy Howard became involved in a customer dispute in which a client sought $2,000,335.47 in damages, alleging that the purchase of Mainsail Commercial Paper was unauthorized. In his Broker Comment, Troy Howard responded that Mainsail Commercial Paper “defaulted due to the world wide [sic] sub-prime and credit default issues.” The global financial crisis, however, proved to be no excuse. Ultimately, he lost a FINRA arbitration and the client was granted $1,134,601.00 in damages. A copy of the award letter can be viewed here.

Troy Howard has also been sued for much smaller amounts of money, though the allegations are no less serious. On February 22, 2005, Troy Howard became involved in a customer dispute in which a client alleged unauthorized trading. The customer requested $7,814.51 in damages, and the matter was settled for $7,859.83.  According to Troy Howard’s BrokerCheck report, “On June 18, 2004, [customer] placed an order to purchase five municpal [sic] bonds totaling $300,000 based on the expected sell [sic] of his house. On June 23, 2004, [customer] requested to cancel the purchase because the sell [sic] of the house had fallen through. Mr. Howard informed him that he could not cancel the trades but were sold without commission resulting in a loss of $7,814.52.”

Over his 27-year career in the securities industry, Troy Howard worked for three brokerage firms. In addition to his current position at Raymond James & Associates, Inc. (CRD#: 705), he has also worked for two other firms:

  • Morgan Keegan & Company, Inc. (CRD#: 4161) of Birmingham, Alabama
  • Amsouth Investment Services, Inc. (CRD#: 15692) of Birmingham, Alabama

If Troy Howard was your broker or if you have questions about unauthorized trading or breach of fiduciary duty, don’t hesitate to contact a securities attorney. Call (877) 238-4175 or email for your free case consultation with the securities attorneys of Fitapelli Kurta.

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