Travis Eiland/ Avantax Wealth Management Investigation
February 2024-Baytown, TX
According to publicly available records Travis Eiland a currently unregistered broker who last worked for Avantax Wealth Management (formerly H.D. Vest, aka Avantax Investment Services), discloses a recently settled customer dispute and a final regulatory matter resulting in a permanent bar from the industry.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 3/2022 FINRA permanently barred Eiland from the industry to resolve allegations that Eiland failed to respond to FINRA requests for information in connection with a FINRA regulatory investigation.
In 8/22, FINRA case #21-01715, was settled for $235,000. The case was filed by a customer of Avantax Securities, Inc. (formerly HD Vest Investment Services) alleging that they incurred losses in their account because of an unsuitable trading strategy involving options, churning, breach of fiduciary duty, statutory fraud and breach of contract.
What is Excessive Trading (Churning)?
Churning According to U.S. Securities and Exchange Commission (SEC)
Other Investigations Involving Churning
Eiland was employed by Avantax Wealth Management, from 5/2000- 12/2015 . Eiland discloses business affiliations with Eiland Lemon Wealth Management of LaPorte, TX.
If you have suffered losses in an account handled by Travis Eiland, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
See this for information on our other investigations involving Avantax brokers.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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