Written by D. Daxton White• September 22, 2016• 3:06 pm• Current Investigations, Securities Fraud Articles

Investigation of Andrew Yocum

Have you suffered losses investing with Andrew Yocum in Lady Lake, FL?

Did you lose money investing with Andrew Yocum? If so, the attorneys at The White Law Group may be able to help. The White Law Group continues to investigate the liability that Yocum’s former employers may have for losses sustained by his clients.

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Andrew Yocum (CRD# 4590723) was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public by the Financial Industry Regulatory Authority in May 2016.

According to his FINRA Broker Report, Andrew Yocum was registered with Summit Brokerage Services in Lady Lake,FL from 12/2015 – 03/2016. He was registered with Morgan Stanley in The Villages, FL from 06/2009 – 10/2015. Morgan Stanley discharged Yocum in October 2015.

Since January of 2016, there are twenty (20) customer disputes listed in Andrew Yocum’s FINRA Broker Check:

09/22/2016 Customer Dispute – Pending
Allegations CLIENT’S ATTORNEY ALLEGES UNSUITABLE RECOMMENDATIONS IN THE ENERGY SECTOR 2014 – SPETEMBER 2015. Damage Amount Requested $370,000.00
08/19/2016 Customer Dispute – Pending
Allegations Claimant alleged unsuitability, inter alia, with respect to investments in account- November 2013 to February 2015. Damage Amount Requested $43,098.00
08/18/2016 Customer Dispute – Pending
Allegations Claimant alleged unsuitability, inter alia, with respect to investments in managed account- 2011 to 2015. Damage Amount Requested $163,209.16
08/08/2016 Customer Dispute – Pending
Allegations Claimants allege, inter alia, that beginning in 2007 the FA made unsuitable recommendations and invested their resources in a manner that was not consistent with their investment objectives. Damage Amount Requested $100,000.00
08/04/2016 Customer Dispute – Pending
Allegations CLIENT’S ALLEGE, INTER ALIA, THAT THE PURCHASE OF AN ANNUITY WAS NOT IN THEIR BEST INTEREST. AUGUST 2013. DAMAGES UNSPECIFIED.
08/01/2016 Customer Dispute – Settled
Allegations Client verbally alleged, inter alia, unsuitability with respect to investments made in managed account – August 2013 to September 2015. Damages Granted $17,000.00
07/29/2016 Customer Dispute – Pending
Allegations CLIENT ALLEGES THAT INVESTMENTS PURCHASED FOR HIM WERE NOT SUITABLE. 2012-2013 DAMAGES UNSPECIFIED.
07/06/2016 Customer Dispute – Pending
Allegations Claimant alleges, inter alia, that from December 2013 to August 2015 the FA made unsuitable investments in the client’s accounts. Damage Amount Requested $40,000.00
06/21/2016 Customer Dispute – Settled
Allegations CLIENTS ALLEGE UNSUITABILITY WITH RESPECT TO INVESTMENTS – 2013 – SEPTEMBER 2015. Damage Amount Requested $65,000.00 Damages Granted $35,000.00

05/17/2016 Customer Dispute – Pending
Allegations Claimants allege, inter alia, that from 2014 to 2015 the FA made unsuitable investments in the client’s accounts. Damage Amount Requested $141,000.00
04/01/2016 Customer Dispute – Pending
Allegations Claimants alleged, inter alia, that investments in account were unsuitable – 2010 to 2015. Damage Amount Requested $361,683.00
02/23/2016 Customer Dispute – Settled
Allegations Claimants allege, inter alia, that from March 2012 to September 2015 the FA made unsuitable investment recommendations. Damage Amount Requested $54,850.00 Damages Granted $35,975.00
02/18/2016 Customer Dispute – Settled
Allegations Client verbally alleged, inter alia, unsuitability with respect to investments in account – June 2014 to November 2015 Damages Granted $30,000.00
02/09/2016 Customer Dispute – Settled
Allegations CLIENTS ALLEGE THE LOSSES IN THEIR ACCOUNTS WERE DUE TO THE FA’S DETRIMENTAL ACTIONS. AUGUST 2014 – SEPTEMBER 2015. DAMAGES UNSPECIFIED. Damages Granted $12,000.00
02/01/2016 Customer Dispute – Pending
Allegations CLIENT’S ATTORNEY ALLEGES UNSUITABILITY WITH RESPECT TO INVESTMENTS JANUARY 2012 – OCTOBER 2015 Damage Amount Requested $186,000.00
02/01/2016 Customer Dispute – Pending
Allegations CLIENTS’ ATTORNEY ALLEGES UNSUITABILITY WITH RESPECT TO INVESTMENTS – DECEMBER 2013 – OCTOBER 2015. Damage Amount Requested $46,300.00
01/27/2016 Customer Dispute – Pending
Allegations CLIENTS’ ATTORNEY ALLEGES THAT THE CLIENTS’ ACCOUNTS WERE OVERCONCENTRATED IN OIL & GAS RELATED SECURITIES. 2013-2015 Damage Amount Requested $30,000.00
01/27/2016 Customer Dispute – Pending
Allegations CLIENTS’ ATTORNEY ALLEGES THAT THE CLIENTS’ ACCOUNTS WERE OVERCONCENTRATED IN OIL & GAS RELATED SECURITIES. 2009-2015 Damage Amount Requested $70,000.00
01/27/2016 Customer Dispute – Pending
Allegations CLIENTS’ ATTORNEY ALLEGES THAT THE CLIENTS’ ACCOUNTS WERE OVERCONCENTRATED IN OIL & GAS RELATED SECURITIES. 2009-2015 Damage Amount Requested $60,000.00
01/20/2016 Customer Dispute – Pending
Allegations Client alleges that her account was over concentrated in energy stocks 2012-2015

Recovery Options

The White Law Group continues to investigate the liability that Yocum’s former employers may have for losses sustained by his clients. Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Yocum violated FINRA rules and his employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.

For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, FL. For more information on The White Law Group and its representation of investors, visit https://whitesecuritieslaw.com.