Investors Bring Arbitration Claim For Bad Investment Advice
Edward Barnett Woll (also known as Ed Woll) of Atlanta Georgia a stockbroker and chief compliance officer formerly registered with J.P. Turner Company LLC is referenced in a customer initiated investment related arbitration claim in which the customer sought $200,000.00 in damages based upon accusations that between January of 2013 and March 2016: (1) misleading statements and omissions were made to the customer concerning investments that a J.P. Turner stockbroker under Woll’s supervision executed in the customer’s account (2) the customer’s investment account had been overconcentrated in speculative investments and (3) poor investment advice was provided to the customer concerning real estate investment trust products and (4) J.P. Turner neglected to supervise the stockbroker resulting in the unfounded statements and unsuitable recommendations being made to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00586 (Feb. 27, 2019).
FINRA Public Disclosure confirms that Woll is referenced in four additional customer initiated investment related disputes containing allegations of his violative conduct while employed with J.P. Turner. Specifically, a customer filed an investment related arbitration claim involving Woll’s conduct where the customer requested unspecified damages supported by accusations that due diligence was not undertaken by J.P. Turner prior to the stockbroker selling a customer interests in a private oil and gas fund; and omissions were made to the customer at the time the customer had been advised to purchase the alternative investments. FINRA Arbitration No. 16-03251 (Nov. 18, 2016).
Subsequently, a customer filed an investment related arbitration claim involving Woll’s activities in which the customer sought $38,000.00 in damages founded on allegations that Woll was responsible for the stockbrokers’ failure to disclose important investment related information concerning municipal and corporate debt investments before recommendations had been made; those recommendations made to the customer failed to be suitable; and the customer’s retirement portfolio had been mishandled. FINRA Arbitration No. 16-03411 (June 21, 2017).
Another customer filed an investment related arbitration claim concerning Woll’s conduct where the customer requested $69,768.00 in damages based upon accusations that between 2012 and 2016: the customer’s brokerage account was churned; trades were effected in the customer’s account in excessive amounts; and the customer was placed in speculative investments which were unsuitable for the customer. FINRA Arbitration No. 17-00955 (Apr. 18, 2017).
Further, Woll is the subject of a customer initiated investment related arbitration claim in which the customer sought $140,000.00 in damages supported by allegations that the stockbroker lacked an adequate foundation to believe that oil and gas investments selected for the customer’s investment account were suitable for the customer given the lack of due diligence undertaken on those investments. FINRA Arbitration No. 17-03034 (Jan. 8, 2018).
Woll’s registration with J.P. Turner was terminated on March 9, 2016. Since April 12, 2016, Woll has been employed by The Strategic Financial Alliance Inc.