Getting a good counselor is one of the hardest things you can do. That’s because you’d trust your wealth adviser with the future of your business, your family, your team, and your own life. You should cut down on your search by getting rid of the bad ones. You should stay away from Christopher Leeper, Raymond James.
One of his customers sued him for more than $500,000, saying that he had lied to them, broken their contract, and not been right for the job. Also, his company’s terms and conditions have several rules that are not good. The next study will give you more information about these facts:
Who is Christopher Leeper Raymond James?
Christopher Leeper Raymond James is a business advisor in the Florida city of Jacksonville. His office is at 9822 Tapestry Park Circle, Jacksonville, FL 32246, US, and his phone number is 904-642-3257.
Christopher Leeper is in charge of the Raymond James company Meinrod & Leeper Wealth Management. His company says that it can help clients reach their financial goals by giving them careful direction and unbiased advice.
They also say that they give each client a cash plan that is made just for them. They offer many different services here, such as planning for long life, financial planning, corporate and senior services, portfolio management, estate and trust management, investment strategies, corporate retirement plans, small business planning, and risk management.
Adam Meinrod and Christopher Leeper are the two people in charge of this company. Steven Bushman, Kristin Allen, and Sean Suarez are also well-known people who work at this company.
Even though this company says a lot of nice things about its skills, the disclosures show that you shouldn’t trust them. In the next part of this review, we’ll talk more about their problematic disclosures:
Hidden Issues in Christopher Leeper Raymond James’s Disclosures
A History of Unsuitability and Lying
Check their FINRA BrokerCheck page when looking for a new wealth advisor. FINRA BrokerCheck is a huge database where you can find out about an advisor’s certifications, professional experience, state licenses, and, most importantly, any legal problems they have had with authorities or customers.
Christopher Leeper Raymond James’s FINRA BrokerCheck profile shows that he has been in two legal battles.
In 2001, he got into his first fight. In this case, the client said Christopher made bad investments, but Christopher’s company denied the claim without saying why.
Also, there is no information about the amount of losses asked for.
Christopher Leeper In 2010, Raymond James got into his second fight. In this case, the client said that between 2005 and 2010, the advisor was not right for him or her, didn’t protect his or her assets, lied to him or her, and broke a duty of care.
They asked for $570,000 in compensation, but the case was settled for $47,500.
Christopher disputed that he had done anything wrong, and he said that Raymond James had settled the case to avoid having to pay for his defense.
As Christopher has done, many shady financial advisors try to avoid taking the blame. But being sued for unsuitability and deception for more than $500,000 is not a small thing. It shows that Christopher Leeper Raymond James has a past of putting his interests ahead of those of his clients.
Putting clients in too much danger
The terms and conditions of Christopher Leeper’s firm say that they will only suggest investments that charge fees based on how well they do. When an advisor charges fees based on how well they do, they only get paid if they beat a certain standard.
This gives them a reason to go for high-risk tactics. Investors rarely make money with these kinds of tactics, and they are especially risky when the market is unstable.
You could lose a lot of money if you use high-risk tactics. But if your expert tells you to take high-risk investments and you lose money because of that, you can’t blame him.
On the other hand, if you make money with these tactics, your advisor can charge you a lot of money.
This fee structure is especially bad for big portfolios that want to grow over time.
Performing Side-by-Side Management
Side-by-side management is one of the worst things that happen in the wealth management business. In this case, a financial advisory company is in charge of both big portfolios and small accounts at the same time.
Side-by-side management firms usually give most of their resources to their biggest clients, leaving little or nothing for their medium-sized and smaller clients. Most of the time, they give general, one-size-fits-all advice to their smaller clients.
These companies do a small review of the smaller portfolios and give advice that is the same for everyone. Even though these suggestions might give “some” results, they wouldn’t come close to what they can get.
Every investor needs to be treated as an individual, but companies that use side-by-side management can’t do that.
If you’re an investor with an account that’s medium-sized or smaller, it’s best to stay away from an advisor who does side-by-side management. Christopher Leeper Raymond James is one of them, which is a shame.
Conclusion
Christopher Leeper Raymond James is not the right guide for you if you want to help plan for your company’s retirement or your own long life.
He has a past of telling his clients things that aren’t good for them. Also, his company has a very well-known way of charging fees and treats its smaller clients badly.
You should look for someone else to help you manage your money in Florida.
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