Investor Seeks $2 Million in Dispute with Jason Stone

Jason Stone (CRD #: 5455271), a broker registered with Arkadios Capital, is involved in two investor disputes. This is according to his BrokerCheck record, accessed on December 17, 2024. Investors may have also worked with him through Secura Financial. Keep reading if you have questions regarding his alleged conduct.
Investor Allegations
On November 6, 2024, an investor named Jason Stone in allegations of lack of suitability and overconcentration with regard to alternative investments, as well as the misrepresentation and omission of material facts and a lack of supervision. The client seeks $2 million in damages in this pending dispute.
On May 28, 2024, investors alleged that Jason Stone made material misrepresentations, recommended unsuitable alternative products, and breached his contract. The client also alleged failure to supervise. The investor is seeking $100,000.
Unsuitable Investments
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.
Some common violations of this rule include:
- Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
- Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.
Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.
Misrepresentation
FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.
Failure to Supervise
FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. Their systems of supervision should be able to catch unsuitable recommendations and other misconduct.
Background Information
Jason Stone has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 15 states and is a registered investment adviser in California.
During his 16 years of experience, Jason Stone has registered with seven firms:
- Arkadios Capital (CRD #: 282710)
- Secura Financial (CRD #: 137324)
- Crown Capital Securities (CRD #: 6312)
- Stone Hatcher Financial (CRD #: 292406)
- J.W. Cole Advisors (CRD #: 112294)
- J.W. Cole Financial (CRD #: 124583)
- Ameriprise Financial Services (CRD #: 6363)
Kurta Law Can Help
If you have worked with Jason Stone 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.