According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), James Wright allegedly used unapproved personal emails and text messages to communicate with an unregistered administrative assistant regarding firm customers. Allegedly, from August 21st, 2015, through May 26th, 2016, Wright communicated with his unregistered administrative assistant using two personal email addressed and the text message function of his personal smartphone, none of which were networked to the firm’s retention system for electronic communications. The emails included information regarding the customers’ assets, securities holdings, and financial goals. This is against securities laws and internal firm rules. For this, he was suspended from the industry for 10 business days and fined $5,000.
James Wright was previously registered with IDS Life Insurance Company in Minneapolis, Minnesota from July 2000 until July 2006, Ameriprise Financial Services in Garden City, New York from February 1987 until January 2014, and Raymond James in New York, New York from February 2014 until February 2015. He is currently registered with American Portfolios Financial Services in New York, and has been since March 2015. He has three customer disputes against him, alleging delays in transferring mutual funds to a moneymarket fund, a customer not being advised of potential tax consequences from a redemption, and lost money in investments due to the advice of the advisor. These are all against securities laws. This is according to Wright’s BrokerCheck report with FINRA online.
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