Jim Summers – Broker Jim Summers Suspended from Securities Industry | Recover Investment Losses

Jim Summers – Broker Jim Summers Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses

Jim Summers a/k/a Jimmie Darrel Summers CRD #1467286

Jim Summers a/k/a Jimmie Darrel Summers is a licensed financial advisor with Waddell and Reed. Jim Summers was previously licensed financial advisor licensed financial advisor with Cetera Investment Services. According to FINRA, Jim Summers was fined $5,000 and was suspended from the securities industry for 3 months in April 2021.

According to FINRA Allegations:

In March 2019, Summers circumvented Cetera’s procedures that prohibited registered representatives from being named as a trustee, successor trustee, or executor for a firm customer, or from having power of attorney for a firm customer, except when the customer was a member of the representative’s immediate family. Specifically, Summers: was named the successor trustee for a firm customer’s living trust; was named the personal representative of the customer’s estate in the customer’s will; and was appointed power of attorney and medical power of attorney for the customer, who was not a member of Summers’ family. In June 2019, Summers again circumvented Cetera’s procedures when he was named the sole beneficiary of an annuity held by the customer,

Goodman & Nekvasil P.A. May Recover Investor Losses

If you lost money on investments with Jim Summers 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 Jim Summers’ 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 $200 million on behalf of victimized investors. If you lost money on investments with Jim Summers 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.

Some of the information in this blog post was obtained on 4/19/2021 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.

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