Stoltmann Law Offices is investigating Jordon S. Trice, a former registered representative with Great Circle Financial since 2010. According to a decision by the Financial Industry Regulatory Authority (FINRA), Trice opened a new account for a customer at Great Circle in 2011. Trice put her money into options accounts, even though the client, who was a homemaker, had no experience with options trading, nor did her investment objectives or portfolio comply with options trading securities. From January 27, 2011 until May 4, 2012, Trice accepted 42 orders to purchase or write options contracts for the customer. Each of them related to an option class that was the subject of an options disclosure document. The net loss to the customer resulting from the trades Trice made was $29,050.84. As a result of the trades, Trice received commissions totaling $3,364.80. Trice was ordered to pay disgorgement in the amount of $3,364.80 with interest. Trice was registered with Great Circle Financial in Reno, Nevada from November 2010 until November 2012. He has two customer disputes against him, both of which are currently pending. He is not licensed within the industry.
Registered representatives have a duty to make investment recommendations to their clients that are in accordance with their investment objectives, portfolio, net worth and age. If they do not, their member firm can be responsible for investment losses to their customers. In Trice’s case, he did not make recommendations that were suitable for the customer, nor did he trade options in a suitable way. His former firm, Great Circle Financial, can be sued in the FINRA arbitration process for losses. If you invested money with Jordon S. Trice or Great Circle, please call our securities law office at 312-332-4200 to speak with one of our attorneys to discuss your options. The call is free with no obligation. We take cases on a contingency fee basis only.