Timothy McLanahan (CRD#: 2356791), a broker registered with Prospera Financial Services, was suspended by the Financial Industry Regulatory Authority (FINRA), according to his BrokerCheck record, accessed August 18, 2020. Why was Timothy McLanahan suspended? Read on to find out more.
Without admitting or denying the findings, on July 1, 2020, Timothy McLanahan entered into an Acceptance, Waiver, and Consent agreement with FINRA in which he consented to the entry of the findings that after the death of his client, he altered a letter of authorization “signed by his client directing the liquidation of mutual funds and affixed a medallion signature guarantee to the letter in an attempt to transfer the proceeds of a mutual fund account in accordance with a deceased client’s wishes.” According to the findings, Timothy McLanahan falsely implied that he witnessed the client sign the document, as altered. Timothy McLanahan consented to a penalty of $5,000 and 30-day suspension, from August 3, 2020 to September 1, 2020. A copy of Timothy McLanahan’s AWC can be viewed here.
These are not the only disclosures on Timothy McLanahan’s BrokerCheck Record.
On October 18, 2017, Timothy McLanahan was discharged from his position at M Holdings Securities, Incorporated, in connection with a letter the firm had received from an individual who had been dead for nine years. The firm reviewed accounts generated to verify no other account had remained open wherein the client was deceased.
Timothy McLanahan passed the Series 63 Uniform Securities Agent State Law Examination, Securities Industry Essential Examination, Series 7 General Securities Representative Examination, Series 53 Municipal Securities Principal Examination, Series 24 General Securities Principal Examination. He is a registered broker in Alabama, Arkansas, Colorado, Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, Missouri, Nevada, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Wisconsin, and Wyoming. Timothy McLanahan is also a registered investment advisor in Alabama, Louisiana, and Texas.
Timothy McLanahan has worked in the securities industry for over two decades. In the course of his 26-year career, he has worked at the following firms:
- M Holdings Securities, Incorporated (CRD #: 43285)
- Becker & Suffern, LTD (CRD #: 39905)
- Jack Dardis & Associates, LTD (CRD #: 23558)
If Timothy McLanahan was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.