Financial Adviser Heafner Ordered To Pay $1 Million In Arbitration Case
Charlotte financial adviser Jim Heafner and Taylor Capital Management have been ordered to pay more than $1 million after five Charlotte-area retirees say they lost more than $500,000 they invested with Heafner, according to the Charlotte Observer.
The retirees had filed for arbitration with the Financial Industry Regulatory Authority, which oversees market investments, after they said Heafner recommended they invest in a now-bankrupt Florida company that the SEC has accused of selling unregistered securities.
The $1 million includes punitive and compensatory damages, along with attorney fees.
Heafner is well-known in the Charlotte area for frequent television appearances giving financial advice. He is a past underwriter at WFAE.