Advisor Alert: Our Attorneys Are Investigating Jonathan David Cummings For Investment Fraud
Did You Lose Money Because of Jonathan Cummings?
Filed: November 15, 2023
Jonathan Cummings has been the subject of four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Jonathan David Cummings.
Who Is Jonathan David Cummings of LPL Financial LLC?
- Advisor Name: Jonathan David Cummings
- Aliases: Jonathan Cummings
- CRD: 2715296
- Location: Hurst, Texas
- Current Employer: LPL Financial LLC
- Previous Firms: Securities America Advisors, Inc., Securities America, Inc., and Investacorp Advisory Services Inc.
- Number of Known Customer Complaints: 4
- Can Jonathan Cummings Be Sued: Yes, in Private Arbitration
- Can Jonathan Cummings’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $50,000
- Highest Settlement: $158,962.92
If you have suffered investment losses by Jonathan Cummings, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Jonathan Cummings For Broker Misconduct
As of this publication date, Jonathan Cummings has been the subject of 4 customer disputes. Let’s review them below.
In January 2022, a FINRA arbitration was filed against or in reference to Jonathan Cummings by a customer of Investacorp, Inc. alleging misrepresentation and omissions of material fact, negligence and the sale of an unsuitable investment relative to the purchase of a real estate investment trust. Per the customer, he/she lost over $50,000 because of Mr. Cummings’s actions. On October 14, 2022, Mr. Cummings settled the claim for $15,000, and some or all of this amount may have been paid by Mr. Cummings’s employer and/or insurance carrier.
In October 2021, a FINRA arbitration was filed against or in reference to Jonathan Cummings by a customer of Investacorp, Inc. and Securities America, Inc. alleging negligence and other wrongdoing in the sale of alternative investments. Per the customer, he/she lost over $35,000 because of Mr. Cummings’s actions. On December 2, 2022, Mr. Cummings settled the claim for $7,000, and some or all of this amount may have been paid by Mr. Cummings’s employer and/or insurance carrier.
In June 2020, a FINRA arbitration was filed against or in reference to Jonathan Cummings by multiple customers of Investacorp, Inc. alleging that approximately 6-7 years after electing to invest in REITs and BDCs, the claimants now allege that the investments were unsuitable. On May 18, 2021, Mr. Cummings settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Cummings’s employer and/or insurance carrier.
In March 2009, a complaint was filed against or in reference to Jonathan Cummings by a customer of AXA Advisors alleging that Mr. Cummings sold Lincoln life annuity in March of 2008. The client was told by the Lincoln wholesaler that the account would step-up by 5% per year if left alone. The client chose not to access the income rider on this account due to that info. 1 year later Lincoln told the client his contract did not have that feature. The client complained and the E & O insurance provider settled. On July 24, 2009, Mr. Cummings settled the claim for $158,962.92.
How To File A Claim Against Jonathan Cummings of LPL Financial LLC (previously with Securities America Advisors, Inc., Securities America, Inc., and Investacorp Advisory Services Inc.) To Get Your Money Back.
If you have questions about Jonathan Cummings, LPL Financial LLC, Securities America Advisors, Inc., Securities America, Inc., Investacorp Advisory Services Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.