Investor Lawsuit Investigation – Jonathan Best
The White Law Group is investigating potential claims involving former financial advisor Jonathan Earl Best, following a FINRA regulatory action and a substantial customer settlement related to allegations of misconduct with a senior investor.
According to FINRA’s public records (CRD#: 2225091), Best was most recently affiliated with Raymond James Financial Services, Inc. in Henderson, Texas. He has two disclosures on his BrokerCheck report, including a regulatory suspension and a customer dispute settled for $275,000.
FINRA Regulatory Suspension – Unauthorized Trading in Senior Account
In December 2024, FINRA announced that Best had been suspended from associating with any FINRA member for a three-month period beginning April 7, 2025. The action stemmed from allegations that Best effected over $14 million in unauthorized trades in the account of a senior client with diminished capacity.
According to FINRA, the customer’s account was non-discretionary and required prior authorization for each trade. Despite this, Best allegedly conducted multiple transactions without obtaining approval from the client or any authorized representative. He reportedly continued executing trades between 2017 and 2019, earning more than $10,760 in compensation.
The client had executed estate planning documents granting Best future co-power of attorney only upon receiving written certifications from two physicians, which never occurred. FINRA found that Best misrepresented the client’s capacity status to his firm, failed to follow instructions to recuse himself from the power of attorney role, and submitted false compliance attestations denying concerns about vulnerable investors.
Best consented to sanctions without admitting or denying the allegations. He was fined $12,500, ordered to disgorge $10,760.88, and assessed interest.
Jonathan Best Customer Complaints
In November 2020, a customer dispute was settled for $275,000. The complaint alleged unsuitable investments and unauthorized trading. The dispute was brought by the client’s court-appointed guardian.
Best denied wrongdoing but stated the case was settled to avoid the time and expense of a full hearing. He noted that the customer’s accounts had increased in value during the relevant period and emphasized a previously good relationship with the client.
Risks of Broker Misconduct and Vulnerable Investors
Brokers who engage in unauthorized trading—especially in accounts held by elderly or incapacitated individuals—can expose investors to serious financial risk. Firms are obligated to have policies and supervisory systems in place to monitor such behavior. Failure to supervise may result in liability for the brokerage firm.
Recovery Options for Investors
If you invested with Jonathan Earl Best and have concerns about how your investments were handled, you may be eligible to pursue a claim through FINRA arbitration. The White Law Group is reviewing whether Raymond James Financial Services failed in its supervisory duties related to Best’s conduct.
FINRA Arbitration vs. Class Action – What’s the Difference?
FINRA Arbitration allows investors to bring claims on an individual basis, tailored to their specific losses and situation. This process is typically faster and more private than class actions, which involve larger groups and smaller per-investor recoveries.
Free Consultation
The White Law Group has represented investors in over 800 FINRA arbitration claims nationwide. If you suffered losses while working with Jonathan Earl Best, contact our firm at 1-888-637-5510 for a free consultation.
Visit us at www.whitesecuritieslaw.com to learn more.
Frequently Asked Questions (FAQs) – Jonathan Best
What were the allegations involving Jonathan Best?
Best was accused of executing unauthorized trades totaling more than $14 million in the account of a senior client with diminished capacity. He also submitted false attestations and failed to follow firm policies related to power of attorney roles.
Can I recover losses if I invested with Jonathan Best?
Yes. Investors who suffered losses due to unauthorized or unsuitable trading by Best may be able to recover damages through FINRA arbitration.
How does FINRA arbitration work compared to a class action?
FINRA arbitration is an individual process tailored to your specific situation. It usually resolves faster than a class action and may result in higher recovery for investors with strong claims.
Last modified: July 3, 2025
