James Trent: In Hot Water With FINRA: How To Recover Investment Losses

According to a recent Disciplinary Proceeding with the Financial Industry Regulatory Authority (FINRA), James Trent was accused of recommending unsuitable short-term trading of Class A mutual fund shares to four customers, resulting in the customers incurring $6,362.50 in unnecessary sales charges. All of the customers were elderly. This occurred from February 2013 through January 2014 while he was associated with AXA Advisors. Trent made 14 transactions in the accounts of four elderly customers resulting in the average holding period for the four customer accounts of six months. Trent received approximately $2,910.00 as his commission for the sales loads. Because the sales were made in such a short period of time, they resulted in unnecessary fees and charges to the four customers. This is against securities rules and regulations.
Mr. Trent was registered with Kepley & Co. in Richmond, Virginia from May 1996 until April 2001, Intercarolina Financial Services in Greensboro, North Carolina from October 2001 until February 2006, UVest Financial Services Group in Columbia, South Carolina from February 2006 until May 2010, Proequities Inc. in Columbia from June 2010 until October 2012, AXA Advisors in Columbia from October 2012 until June 2014 and Allstate Financial Services in Florence, South Carolina from June 2014 until February 2017. He has one customer dispute against him and is currently not registered within the industry, according to his online FINRA BrokerCheck report.
We are Chicago and Barrington, Illinois-based securities attorneys who help investors recover their losses on a contingency fee basis in the FINRA arbitration forum. Please call us today to find out how you can bring a claim against Trent’s former firm, AXA Advisors, for not properly supervising him. The call to us is free with no obligation so please call today.