Earl Hamilton Allegedly Failed to Apply Mutual Fund Breakpoints

Earl Hamilton (CRD #: 2550236), a broker registered with Raymond James Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on July 19, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On June 5, 2024, an executrix of a deceased client’s estate alleged concerns that Earl Hamilton failed to apply mutual fund breakpoints. The investor also alleged concerns regarding the suitability of a non-qualified annuity. The investor is seeking $251,901. 

On September 19, 2023, an investor alleged that Earl Hamilton placed an unauthorized trade in an investment account. 

What is a Mutual Fund? 

A mutual fund is a portfolio of investments that allows investors to pool their wealth. They can be passively or actively managed. Brokers may earn a large commission from these funds, making them frequent objects of fraudulent trading practices. 

Investors should also note that brokers are required to notify their investors if they are entitled to breakpoint discounts when they purchase shares of a mutual fund. Failure to do so could be grounds for an investor dispute and FINRA arbitration. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Unauthorized Trading

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Background Information 

Earl Hamilton has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 31 states and is a registered investment adviser in South Carolina. 

During his 29 years of experience, Earl Hamilton has registered with the following firms: 

• Raymond James Financial Services (CRD #: 6694) 
• Raymond James Financial Services Advisors (CRD #: 149018) 
• Robert Thomas Securities (CRD #: 10147) 
• Liberty Securities Corporation (CRD #: 14416) 
• Wall Street Investor Services (CRD #: 10012) 
• A.G. Edwards & Sons (CRD #: 4) 

Kurta Law Can Help 

If you have worked with Earl Hamilton and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.