Forum

Wealth Professional forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Wealth Professional | 08 Oct 2014, 11:07 AM Agree 0
What do you call it when a possibly malicious advisor rips off a greedy, gun-toting, too-lazy-to learn investor?
  • Harley Lockhart CFP CLU CHFC | 08 Oct 2014, 01:53 PM Agree 0
    Like meets like is comforting but irrelevant. What other clients has Jones abused? Where was the compliance department at Leede Financial Markets Inc.?
  • Jeff Sanford | 08 Oct 2014, 01:57 PM Agree 0
    Good point Harley. Apparently someone with the same name had been cited by securities regulators in BC. The question about compliance at Leede is a good one. How did they not pick up on that kind of trading?
  • Ken MacCoy, CHS | 08 Oct 2014, 10:27 PM Agree 0
    What do you call it when a possibly malicious advisor rips off a greedy, gun-toting, too-lazy-to learn investor? A dolt that got duped! How about a hood that got hoodwinked?!

    All kidding aside, the sad reality is both are bad news. As per a May 6, 2014 Investment Executive article, a 'Catherine Jones' with Leede Financial Markets Inc. was taken to task by IIROC & fined $48,000 for problems dating back to 2009 & 2010. In addition, IIROC ordered a 3 month suspension, 1 year of strict supervision & was to pay costs of $15,000. According to the article, Jones is currently a registered rep with Global Securities Corp in Vancouver. Assuming this is the same individual, it's looks like pattern and perhaps, this time she will get more than a slap on the wrist. However, I wouldn't hold my breath!
  • Veronica | 15 Jan 2015, 05:03 PM Agree 0
    My father was one of Catherine Jones' clients. He had passed on his accounts to me when he passed away due to kidney cancer. Anyway, I had found out months after taking over these accounts, I would receive receipts for investing $500 at a time in penny stocks I had not approved. I asked her about this and she claimed that my father had subscribed to a "special list" whereby every week she would invest $500 into a "rockstar" speculative stock. Even for a rookie, I knew this was wrong. Eventually I had all funds transferred to another firm.
Post a reply