Clay Erickson – Financial Advisor/Broker Clay Erickson Suspended from Securities Industry

Clay Erickson – Financial Advisor/Broker Clay Erickson Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Clay Erickson aka Clay Elder CRD #1583644

Clay Erickson is a formerly licensed financial advisor/broker licensed with Hornor, Townsend & Kent, Inc.

According to FINRA, Clay Erickson was suspended from the securities industry for nine months and fined $7,500 in September 2019.

According to FINRA Allegations:

Clay Erickson consented to the sanctions and to the entry of findings that he effected unauthorized transactions, totaling $5,317,233.32, in his customers’ variable annuity accounts. The findings stated that Erickson transferred all of the funds held by 57 customers across 86 variable annuity contracts to a money market sub-account in an effort to protect customers’ account value, because he anticipated an imminent market downturn. To transfer these funds, Clay Erickson effected the transactions without obtaining authorization from the customers, totaling the $5,317,233.32. In addition, Clay Erickson did not possess discretionary authority over his customers’ accounts. Clay Erickson did not receive any compensation in connection with executing the transactions. The customers’ accounts did not suffer any losses, and the customers did not incur any fees in connection with the transactions. The member firm resolved the one complaint it received from a customer regarding Clay Erickson’s conduct.

According to Clay Erickson’s CRD, two customer disputes alleging sales practice violations against Clay Erickson were recently settled.

Goodman & Nekvasil, P.A. May Recover Investor Losses:

If you lost money on investments with Clay Erickson and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Clay Erickson’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Clay Erickson and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.


Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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