Jason Lowther, Concorde Broker, Allegedly Sold Unsuitable Bonds
Jason Lowther (CRD# 2606268), a broker registered with Concorde Investment Services, recommended an unsuitable bond investment, according to an investor dispute. MDF Law is investigating the Ann Arbor, Michigan-based financial professional for similar conduct. If you have concerns about investments in your accounts, contact us for a free, confidential consultation.
Details about the allegations against Mr. Lowther follows below. This post is based on an October 31, 2024 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
Pending Dispute Seeks 6-Figure Damages
On August 29, 2024, an investor lodged a dispute alleging that Mr. Lowther misrepresented and recommended an unsuitable bond investment. The dispute, which is still pending, seeks $125,000 in damages.
Past Dispute Alleged Omission, Unsuitability
The above-described investor dispute is not the only one in Mr. Lowther’s past. On August 6, 1997, an investor filed a claim alleging that he omitted material facts, breached his fiduciary duty, and made an unsuitable recommendation. The allegations evolved into an arbitration proceeding before an NASD panel, which issued an award of $1,310 to the claimant.
Industry Rules Protect Investors
A number of important securities industry rules and standards outline an adviser’s duty to act in their customer’s interests. The SEC, for example, lays forth an investment manager’s fiduciary duty to “serve the best interest of its client and not subordinate its client’s interest to its own.” Then there’s the SEC’s Regulation Best Interest, which requires that brokers “exercise reasonable diligence, care, and skill, to understand the potential risks, rewards, and costs” of investment recommendations. This is similar to FINRA Rule 2111, which establishes a requirement that brokers have a “reasonable basis to believe” their recommendations are suitable. To make this determination, they must assess a customer’s profile, including their investment objectives, risk tolerance, and net worth.
FINRA: Broker Based in Ann Arbor, Michigan
Mr. Lowther launched his career as a broker in 1995. That year, he registered with Investors Associates’ branch office in Hackensack, New Jersey. Over the following years, he held tenures at firms including Meridian Capital Group, Wachovia Securities, VSR Financial Services, and Western International Securities. He joined his current member firm, Concorde Investment Services, in 2021. He remains at the firm today, based at its office in Ann Arbor, Michigan. As his BrokerCheck profile reflects, he does business as DST 1031 Connect. With 27 years of experience as a broker, he has completed three industry exams, including the Series 63 and the Series 7.
Jason Lowther Investment Complaints? Contact MDF Law Today
If you lost money working with Jason Lowther, you may have grounds to lodge a FINRA arbitration claim to pursue a recovery. For a free, confidential consultation with an experienced broker fraud attorney, call MDF Law today. We accept cases on a contingency basis, meaning we only collect a fee if our clients collect a recovery: no hourly fees. Call 800-767-8040 for a free consultation today.