Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 18, 2018 indicate that Arkansas-based TransAmerica Financial Advisors broker James Barnes is involved in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Barnes (CRD# 2421490).
James Barnes has spent 20 years in the securities industry and has been registered with TransAmerica Financial Advisors in Mountain View, Arkansas since 2016. Previous registrations include SagePoint Financial in Mountain View, Arkansas (2014-2016); MetLife Securities in Franklin, Tennessee (2008-2014); ING Financial Partners in Mountain View, Arkansas (1997-2007); Washington Square Securities in Des Moines, Iowa (1995-1997); MetLife Securities in Springfield, Massachusetts (1995); and Metropolitan Life Insurance Company in New York, New York (1995). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 8, 1995; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on May 8, 1995. He is a registered broker with three US states: Alabama, Arkansas, and Texas.
According to his BrokerCheck report, he has received one pending customer complaint.
In November 2018 a customer alleged James Barnes, while employed at TransAmerica Financial Advisors, misrepresented material facts regarding a variable annuity policy sold in 2018. The customer is seeking more than $88,100 in damages in the pending complaint.
For reference, both securities law and FINRA rules forbid brokers and investment advisers from making untrue or false statements that can mislead their clients, or in other words misrepresenting material facts regarding an investment. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor as they make decisions regarding an investment or investments. Examples include a stock’s level of risk, an investment’s potential return, transaction fees, and surrender charges associated with a variable annuity. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has lost money investing with James Barnes, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.