Douglas Howard, formerly of TransAmerica Financial Advisors, Barred by Iowa Insurance Commissioner
Have you lost money with financial advisor Douglas Howard of Atlantic, Iowa? We are investigating allegations made by Iowa Insurance Division against Douglas Allan Howard. Iowa alleged that Howard engaged in deceptive practices when he solicited one of the clients from his brokerage firm, TransAmerica Financial Advisors, to liquidate a variable annuity to invest in a trading program developed by a Michael Graham from Arizona.
Iowa alleged that Michael Graham was purported to have traded in futures and foreign currency. It was further alleged that Douglas Howard told the investor that if she invested with Graham, that she would not risk losing her money. Unfortunately, it seems that Graham was running a scheme, and the investor has suffered significant losses. Moreover, Howard failed to disclose to Iowa numerous criminal charges filed against him between 2000 and 2015, including driving while intoxicated, theft, assault on peace officers, and possession of marijuana. Iowa revoked Douglas Howard’s securities and insurance licenses.
Douglas Howard was a financial advisor and registered representative of TransAmerica Financial Advisors from 1998 to March 2014. He worked at a branch office in Atlantic, Iowa. Howard was also affiliated with Cherry Corner Agency and Douglas Investments, Inc. Howard has also been the subject of at least three customer complaints.
Brokerage firms like TransAmerica Financial Advisors have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Iowa. Attorney David Neuman represented numerous investors against DeWaay Capital Management, based out of Clive, Iowa. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Howard, Douglas Iowa Order
Click to view: Howard, Douglas BrokerCheck 7.31.17
If you lost money with Douglas Howard or TransAmerica Financial Advisors, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.