Luis S. Jean-Bart Broker Investigation: FINRA Suspends Former PFS Investments Representative
The White Law Group is investigating the conduct of former financial advisor Luis Jean-Bart (CRD #5472965) after multiple disclosures—including a regulatory suspension, a customer dispute, and allegations involving a purported investment club—have come to light.
Jean-Bart was most recently registered with PFS Investments Inc. (PFSI) in Cranbury, New Jersey, where he was employed for approximately 14 years before his termination in February 2024.
FINRA Suspends Luis S. Jean-Bart for Failure to Provide Information
According to the Financial Industry Regulatory Authority (FINRA), Jean-Bart has reportedly been suspended for ten months and fined $5,000 for repeatedly failing to respond to FINRA Rule 8210 requests for information and documents.
FINRA Findings (AWC)
Without admitting or denying the findings, Jean-Bart consented to the following:
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From November 2023 through February 2025, Jean-Bart failed to timely respond to repeated FINRA requests for information.
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His conduct violated FINRA Rules 8210 and 2010, leading to a ten-month suspension and a monetary fine.
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This failure followed an earlier temporary suspension (Rule 9552) from August 5, 2024 to October 14, 2024, issued after he initially failed to respond to FINRA inquiries.
Although Jean-Bart is no longer associated with a FINRA member, the regulator retains jurisdiction over him due to his association ending within the past two years.
Termination Following Allegations of an Unauthorized “Investment Club”
On February 22, 2024, PFS Investments reportedly filed a Form U5 disclosing that it had discharged Jean-Bart after an internal review related to allegations in a state court complaint.
According to the filing:
The complaint alleges that Jean-Bart, along with other defendants, caused the plaintiffs to participate in a purported investment club operated by a third party unaffiliated with PFSI, which allegedly resulted in monetary losses.
A related customer dispute filed in August 2023, which remains pending, seeks $1.4 million in damages based on the same allegations. Jean-Bart has denied the allegations as false.
BrokerCheck Disclosures for Luis S. Jean-Bart
Jean-Bart’s FINRA BrokerCheck report lists:
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14 years of industry experience
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3 total disclosures, including:
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1 customer dispute (pending)
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1 regulatory action (final)
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1 employment separation after allegations
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No active state licenses or FINRA registrations
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Registration history:
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PFS Investments Inc. (2009–2024)
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What Investors Should Know About Investment Clubs and Supervisory Failures
Investment clubs—especially those operated outside a brokerage firm’s supervision—can pose significant risk to investors. Broker-dealers have a duty to adequately supervise their registered representatives. If a financial advisor recommends unapproved outside investments, the firm may be liable for failure to supervise.
FINRA Rule 3110 requires brokerage firms to monitor their brokers’ activities, particularly outside business activities and private securities transactions.
If a broker’s recommendations lead to investor losses, the firm may be held responsible through a FINRA arbitration claim.
Recovering Investment Losses with The White Law Group
If you invested with Luis Jean-Bart or in an investment club or outside offering he recommended, you may have recovery options.
The White Law Group has handled numerous FINRA arbitration claims involving improper outside business activities, unauthorized investments, and failure to supervise.
FINRA arbitration is a private, cost-effective option for recovering losses from a brokerage firm.
For a free consultation, contact
The White Law Group at 1-888-637-5510 or visit our website.
FAQs
1. Why was Luis Jean-Bart suspended by FINRA?
FINRA suspended Jean-Bart for ten months and fined him $5,000 after he failed to respond to requests for information issued under FINRA Rule 8210. He also previously served a Rule 9552 suspension for similar non-responsiveness.
2. What are the allegations involving the investment club?
A pending state court complaint alleges that Jean-Bart and others caused investors to participate in an investment club run by an outside third party unrelated to PFS Investments, resulting in significant monetary losses.
3. Can I recover losses if I invested based on Jean-Bart’s recommendations?
Possibly. Even if a broker is no longer employed or has been suspended, their brokerage firm may still be liable for failure to supervise. Recovery is typically pursued through a FINRA arbitration claim.
Last modified: November 25, 2025
