Securities Arbitration Lawyers BlogBroker Linda Howard Subject Of Allegations In Client Estate
Linda Howard (Linda Karen Howard CRD#: 1922648) is a registered broker and investment advisor currently employed with Edward Jones (CRD#:250) of San Antonio, TX. Her previous employers include BA Investment Services, Inc. (CRD#:12965) of Oakland, CA and Invest Financial Corporation (CRD#:12984) of Appleton, WI. She has been in the industry since 1990.
A customer dispute filed on 9/20/2020 by an attorney for a client’s estate alleges that from March 2018 through December 2019, Howard worked with a former power of attorney agent to open accounts in the client’s name. The allegations also include the designation of beneficiaries other than the client’s estate, and working to deplete the estate’s assets. There is no response from Howard or the firm.
A previous customer dispute filed on 3/27/2017 allege that Howard forged the client’s signature for an unauthorized purchase, and requested damages of $7,000. The claim was denied following the firm’s investigation.
Estate Abuse
Though prohibited, stockbrokers do misappropriate from their customers, including by designating beneficiaries to their estate or borrowing or stealing from the estate. Often times, this happens with an older client who does not understand what is happening or cannot consent, which can be considered elder financial fraud.
All registered brokers and broker-dealers are expected to follow ethics guidelines of the Financial Industry Regulatory Agency (FINRA), the investment industry’s regulatory organization.
FINRA rules and regulations prohibit brokers and financial advisors from becoming overly involved in a client’s estate or trust including:
- Being named as a beneficiary in a client’s will
- Improperly being assigned power of attorney
- Using an elderly client’s assets for his or her own benefit (conversion)
- Abusing power of attorney
- Failing to allocate funds as directed
Only in rare occasions should a stockbroker be named as a trustee or a beneficiary of an estate, such as in the case of a family relationship. Our attorneys have represented families whose financial advisor improperly served as a trustee or beneficiary of an estate improperly taking money from an estate. Silver Law Group has also written the SEC about preventing this type of abuse.
Elderly or incapacitated victims of financial fraud have rights. If you or a loved one believe that you have been wronged due to abuse or exploitation, you may be able to recover your losses with the help of an experienced attorney. Our attorneys have extensive experience representing trusts in securities arbitration claims and exposing stockbrokers and others who abuse a trust or estate.
Did You Invest With Linda Howard?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.