Investors Seek Over $17 Million in Disputes with Mario Payne

Mario Payne (CRD #: 5445757), a broker formerly registered with Raymond James Financial Services, allegedly executed an unsuitable investment strategy, according to his BrokerCheck record, accessed on February 25, 2025. Keep reading to learn more about his alleged conduct as a broker.

Investor Disputes

Five pending disputes filed from September 26, 2024, to February 12, 2025, allege that Mario Payne executed a high-risk and unsuitable investment strategy involving illiquid structured products.

Investors further alleged that Mario Payne misrepresented these investments as being guaranteed and insured.

These pending disputes seek a collective $17.6 million in damages.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile, which describes their age, risk tolerance, tax status, investing experience, and other characteristics. 

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. This includes the misrepresentation or omission of information related to investments, such as their fees, risks, or potential returns.

FINRA Rule 2150

FINRA Rule 2150 forbids brokers from guaranteeing investors against loss.

What are structured products?

Structured products are a type of financial product that combine the features of a bond with a derivative component, such as swaps, futures, or options. Investors’ returns depend on the performance of this derivative component.

The complexity of structured products makes it vital for investors to understand their features and risks before buying in.

Background Information

Mario Payne has passed the following exams:

• General Securities Principal Examination – Series 24
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

He previously worked for Raymond James Financial Services (CRD#:6694) and Edward Jones (CRD#:250).

Kurta Law Can Help

If you worked with Mario Payne and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.