Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 23, 2017 indicate that former Utah-based Hornor Townsend & Kent broker Clay Erickson, also known as Clay Elder, has been sanctioned by FINRA and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Erickson (CRD# 1583644).
Clay Erickson has spent 25 years in the securities industry and was most recently registered with Hornor Townsend & Kent in Salt Lake City, Utah (2011-2016). Previous registrations include Equity Services in Salt Lake City, Utah (1999-2011); 1717 Capital Management Company in Newark, Delaware (1997-1999); WS Griffith & Company in Hartford, Connecticut (1993-1997); Secura Investments in Appleton, Wisconsin (1996); and Phoenix Equity Planning Corporation in Hartford, Connecticut (1991-1993). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 24, 1991, and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on September 19, 1991. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received three customer complaints, one pending customer complaint, and one FINRA sanction, and he was discharged from his former employer in connection to alleged rule violations.
In October 2017 a customer alleged Clay Erickson, while employed at Hornor Townsend & Kent, transferred money from variable annuity sub-accounts to a money market sub-account without his knowledge. The customer is seeking unspecified damages in the pending complaint.
In March 2017 a customer alleged Clay Erickson, while employed at Hornor Townsend & Kent, unsuitably recommended she transfer her investments to purchase a life insurance policy. The complaint settled in April 2017 for more than $22,900.
In 2016 he was terminated from his position at Hornor Townsend & Kent following his FINRA suspension from association with any member firm for a ten-month period.
In 2016 FINRA sanctioned him following allegations he had willfully failed to disclose or to timely disclose, on his Form U4, judgments and liens against him which totaled nearly $319,000. FINRA found that the judgments or liens, which included civil judgments, state tax liens, federal tax liens, and state child support judgments, were material information that he should have reported. He was issued a fine of $15,000 and a ten-month suspension from association with any FINRA member in any capacity.
In 2015 a customer alleged Clay Erickson, while employed at Hornor Townsend & Kent, misrepresented material facts related to an investment. The complaint settled for more than $15,800.
In 2009 a customer alleged he, while employed at Equity Services, made misrepresentations of material facts related to an investment. The complaint settled in 2011 for $35,000.
If you or someone you know has a complaint regarding Clay Erickson, also known as Clay Elder, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.