Robert Franden Fired from Raymond James & Associates

Robert Franden (CRD #: 2402061), a broker formerly registered with Raymond James & Associates, was fired from that firm, according to his BrokerCheck record, accessed on January 12, 2023. If you want to know more about his alleged conduct as a broker, read on.

Termination from Raymond James & Associates

On December 16, 2022, Robert Franden was fired from Raymond James & Associates following allegations that he failed to report a civil action and default judgment, failed to disclose a loan to a former firm associate, and exhibited a “lack of candor” when questioned by the firm about these allegations.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Regulatory Action by State of Oklahoma

On September 7, 2021, the Oklahoma Department of Securities alleged that Robert Franden exercised his trading discretion without client authorization or approval from Morgan Stanley.

Robert Franden entered a consent order with the Oklahoma Department of Securities and was censured.

FINRA Rule 3260

FINRA Rule 3260 limits brokers to exercising their trading discretion in pre-approved discretionary accounts. Both the firm and client must approve these accounts for discretionary trading.

Investor Disputes

On April 4, 2019, an investor alleged that Robert Franden engaged in excessive trading between 2012 and 2018. This dispute is currently pending.

In a dispute filed on August 23, 2018, multiple investors alleged that Robert Franden engaged in excessive trading between 2012-2018. The clients sought $43,456,291 in damages and received a settlement of $12,500,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe investor characteristics such as their age, risk tolerance, and investment goals.

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

Background Information

Robert Franden has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

He has also worked for the following firms:

• Raymond James & Associates (CRD#:705)
• Morgan Stanley (CRD#:149777)
• Morgan Stanley & Company (CRD#:8209)
• Morgan Stanley DW (CRD#:7556)
• Citigroup Global Markets (CRD#:7059)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Robert Franden 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 and 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.