Previously Registered Investment Adviser Jeffrey Raymond Dixson Allegedly Made Unsuitable Investment Recommendations
Financial Industry Regulatory Authority (FINRA) has published a BrokerCheck report on previously registered broker and investment adviser Jeffrey Raymond Dixson, showing multiple customer disputes and one regulatory dispute.
As of this writing, Dixson has been the subject of 20 customer disputes, nine of which are still pending. He also faced a regulatory dispute in 2007.
Regulatory Dispute Involving Dixson
According to BrokerCheck, The State of Washington, Office of the Insurance Commissioner (OIC) sought civil and administrative sanctions against Dixson in November 2007. At the time of the activity of issue, the broker had worked for Pacific West Securities. The commissioner alleged that Dixson sold variable annuities to residents of Washington without the products have been approved by the Washington OIC. The OIC office also alleged that Dixson had falsely represented that the variable annuity applications were signed in Oregon.
The OIC fined Dixson $6,000 but suspended half the amount under the conditions that the broker complete an Ethics continuing education course and not repeat his violation for a period of two years.
Customer Disputes Involving Dixson
Many of the customer disputes about Dixson centered on his time of employment with Madison Securities, LLC, public records show. These complaints, filed between February 2010 and May 2021, largely allege unsuitable recommendations, over-concentration, misrepresentations, and omissions—especially related to the sale of GPB Automotive.
Alleged damages range from $100,000 to $650,000. To date, 11 of these customer disputes have been resolved, with settlements ranging between $52,500 and $200,000.
According to the BrokerCheck report, customers also accused Dixson of the following:
- Poor due diligence
- Poor performance
- Elder abuse
- Failure to supervise
- Breach of fiduciary duty
- Omission of material facts
- Violations of securities rules and regulations
Pending Customer Disputes
Multiple customer disputes involving Dixson remain pending. The allegations in these pending disputes closely mirror those from previously settled disputes. Madison Avenue Securities, LLC was the broker’s employing firm at the time when the alleged activities occurred. Furthermore, each of the pending complaints alleges unsuitable recommendations, with several referring specifically to GPB Automotive.
Alleged damages in the pending claims run between $50,000 and $1,127,780.
If You Lost Money as a Client of Jeffrey Raymond Dixson, We Can Help
The Securities and Business Litigation team at Levin, Papantonio, Rafferty, Proctor, Buchanan, O’Brien, Barr & Mougey, P.A. is investigating claims from investors who sustained financial loss because of Jeffrey Raymond Dixson’s unsuitable investment recommendations.
Keep in mind that Madison Avenue Securities, Dixson’s employer throughout the period during which many customer disputes against the broker are based, may be responsible for the brokers and investment advisers that are registered through the firm. They are also required to supervise these employees and make sure they adhere to securities rules and regulations. If the firm failed to supervise Dixson, and this failure cost you to sustain investment losses, the firm might be held liable for your financial losses.
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FRS is a governmental body. FRS retained the services of Peter Mougey of the LP law firm in a multimillion-dollar lawsuit involving extremely complex issues. Mr. Mougey quickly mastered the issues and gave advice that was vital in bringing about a successful resolution. Two of the most important features of Mr. Mougey’s representation was his understanding of government and his ability to communicate complicated legal concepts to a 10-member board of trustees in language that was easily understood by all. I did not know Mr. Mougey before FRS retained him and, fortunately, have not experienced circumstances where the system would need his services again. However, if needed, I would have no hesitation in retaining his services again. Please let me know if you need any additional information or assistance. Steven S.
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