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Award Date: November 7, 2025
Representative: William Bean, Esq., HLBS Law
Respondent Firm: First Horizon Advisors, Inc.
Case Objective:
A registered representative (RR) in Louisiana pursued the removal of three inaccurate customer complaint disclosures from his CRD and BrokerCheck records. The entries stemmed from unfounded allegations of unauthorized transactions, lack of communication, and misrepresentation in annuity exchanges—none of which involved client harm or regulatory violations. With HLBS Law's assistance, the RR initiated a FINRA arbitration to clear the baseless marks and restore his professional standing.
Summary:
The broker began his career in 1999. In 2021, he joined First Horizon, and the disputes arose from three separate clients during his time with First Horizon.
The first involved an elderly client, who claimed unauthorized purchases of a market-linked note and CD in 2021, seeking $22,000 in damages. Investigations confirmed that the client had signed disclosures, understood the products, and received confirmations without prompt objection. The firm offered a $10,000 settlement, which went unanswered.
The second concerned a doctor, who alleged that the RR had not contacted her in 2022 amid account value drops, and she demanded $103,000. Records showed that the RR and his team had made repeated attempts to reach the client, which were thwarted by the client's incorrect contact details and unavailability.
The third stemmed from a couple, who misunderstood a 2023 Section 1035 annuity exchange as a rate adjustment, rather than a new contract, and they requested its cancellation. Documentation, including signed applications and prospectus, proved that full explanations had been provided, and the free-look period had lapsed without issue.
In all cases, the firm denied the claims after thorough reviews, finding no evidence of misconduct, and the clients did not escalate to further legal action.
Resolution:
The RR filed for FINRA expungement of all three disputes, in January 2025. First Horizon filed a supportive response in April, not contesting the relief. An online hearing occurred on October 28, 2025.
Following evaluation of documents, the RR’s testimony, and legal arguments from William Bean, Esq., the three-member FINRA Panel approved expungement across the board. The Panel cited the RR’s non-involvement in one aspect of the first dispute and ruled the allegations false in all instances, highlighting signed confirmations, delayed complaints, and credible evidence of proper disclosures.
This ruling scrubbed the RR’s records, enabling him to continue to advance his career, free from misleading blemishes.
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