Claimant alleges that FAs misrepresented that her grandfather, a client of the same FAs, had setup a trust account for her with the FAs as trustees and that she believes account had been setup in her name and that FAs misrepresented that it was a trust to hide their alleged conversion of funds from the account

$3,000,000.00

$160,000.00

While the claimant was a customer of and had a business relationship with Lawson Winchester Wealth Management (LWWM), the allegations made in this complaint are without merit, clearly erroneous, and false. In addition, in September 2017 the customer released any and all claims against LWWM and broker under the terms of a mutual agreement among the parties. LPL Financial LLC settled on November 8, 2022, for $160,000. Raymond James Financial Services settled on December 7, 2022 for $62,500.00. Representative did not contribute to the settlements.

Tennessee Securities Division

Respondent engaged in dishonest and unethical practices by failing to disclose a business loan with a client to his firm.

Consent

Civil and Administrative Penalty(ies)/Fine(s)

$15,000.00

In addition to the fine, Mr. Lawson is to Comply with the Tennessee Securities Act of 1980, complete four FINRA training courses, and be on heightened supervision for two years.

No client was harmed in anyway.

Raymond James Financial Services, Inc.

Discharged

Did not timely disclose or seek approval of a business loan arrangement with a client.

Breach of Fiduciary Duty, Negligence, Negligent Supervision, Suitability, Excessive Turnover, Breach of Contract, Negligent Hiring, Selling Away and Violations of FINRA Conduct Rules

$150,000.00

$7,500.00

Matter was settled by the firm to avoid the uncertainty of litigation. Mr. Lawson denies all wrong doing as alleged and maintains that all investments were suitable and appropriate. While under Mr. Lawson's management, the customer's account achieved significant gains and any decline in account value was directly attributable to withdrawals made by the customer. This matter was resolved solely as a business decision on behalf of the firm, for a portion of estimated additional costs of defense, and Mr. Lawson did not contribute to the resolution.

CUSTOMERS ALLEGE THAT ANNUITY AND REIT INVESTMENT WERE NOT APPROPRIATE FOR THIER INVESTMENT OBJECTIVES. ACTIVITY PERIOD 1/06 TO PRESENT.

$8,000.00

CUSTOMERS WERE PROVIDED DISCLOSURE OF INVESTMENTS, AND INVESTMENTS MET INCOME INVESTMENT OBJECTIVE.