A former Raymond James advisor recently filed suit against the broker/dealer claiming an internal recruiter misrepresented the support, technology and compensation the firm could deliver. After he had joined the firm, he found that Raymond James couldn’t provide those things that were promised, according to the claim. Industry sources say his experience is pretty common.
“There are certainly many advisors who feel this way–that they have been promised a lot more than they received, but this is the first time I hear about anyone suing their broker/dealer,” said Philip Palaveev, president of Fusion Advisor Network.
Perhaps this has happened to you?
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