Have you lost money with financial advisor James Bashaw of LPL Financial and International Assets Advisory in Houston, Texas? 

The law firm of Israels & Neuman is looking into allegations made by FINRA (the Financial Industry Regulatory Authority), against James E. Bashaw. FINRA suspended Bashaw from the securities industry for four months and fined him $5,000.  FINRA was investigating Bashaw regarding allegations that he borrowed $200,000 from a customer, which generally is not allowed in the securities industry, with a few limited exceptions.  He failed to notify his former brokerage firm, LPL Financial, of the loan.  Bashaw was also alleged by a customer to have recommended investments in Texas Air Shuttle LLC.

James Bashaw was a financial advisor and registered representative of LPL Financial from 2001 to October 2014.  He was also affiliated with International Assets Advisory from October 2014 to April 2019.  He worked at offices in Houston, Texas.  Bashaw also had three customer complaints filed against him (including one involving the sales of Texas Air Shuttle LLC), he filed for bankruptcy in 2017, and he was also terminated by LPL Financial.

Brokerage firms like LPL Financials 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 Ann Arbor, Michigan; Denver, Colorado; and Seattle, Washington.  We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Texas and the Houston area.  Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against LPL Financial and International Assets Advisory.

Click to view:  Bashaw, James BrokerCheck

Click to view:  Bashaw, James FINRA AWC

If you lost money with James Bashaw or LPL Financial, please CONTACT US at 720-599-3505 for a free evaluation of your case.