Our firm is investigating Arete Wealth Management, LLC financial advisor Jason P. Lamb (CRD# 3248356) of Nashville, Tennessee for potential investment-related misconduct.
Financial Advisor’s Career History
Based on his FINRA BrokerCheck report, Jason P. Lamb has been registered in the securities industry with the following firms: Arete Wealth Management, LLC (02/2021–Present); Center Street Securities, Inc. (06/2009–12/2023); ProEquities, Inc. (09/2001–03/2009); and American Express Financial Advisors Inc. (11/1999–08/2001).
Jason P. Lamb Fraud Allegations and Investor Complaints Explained
FINRA Regulatory Action (AWC) – Failure to Supervise Alternative Investment Sales (Renewable Secured Debentures)
FINRA reported a final regulatory action initiated on August 12, 2014 (AWC, Case No. 2012034936003) while Lamb was associated with Center Street Securities, Inc.
According to the findings (entered without admitting or denying), Lamb failed to supervise certain sales of a renewable secured debenture described as an illiquid and high-risk alternative investment, totaling approximately $770,000 to nine customers. FINRA stated Lamb approved the purchases despite “red flags” and without taking reasonable steps to ensure the sales were suitable and/or accurately represented, including insufficient consideration of customers’ objectives, risk tolerance, financial condition, age, and liquidity needs.
Sanctions: $10,000 fine (paid in August 2014 per the report) and a two-month suspension in all principal capacities (09/02/2014–11/01/2014).
Customer Disputes – Alleged Unsuitable Investment Recommendations (Settled)
BrokerCheck reflects 10 customer disputes, each reported as settled, generally alleging unsuitable investment recommendations involving alternative investments and one involving a private placement.
Disclosure summary (as reflected in the report):
- Customer Dispute (FINRA #24-02338): Notice served 12/02/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $100,000; Settled 12/12/2025 for $14,999.
- Customer Dispute (FINRA #24-00138): Notice served 11/08/2024; alleged unsuitable recommendation; product Private Placement; alleged damages $250,000; Settled 04/04/2025 for $3,000.
- Customer Dispute (FINRA #22-02365): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $184,000; Settled 01/15/2025 for $8,250.
- Customer Dispute (FINRA #22-02364): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $220,000; Settled 01/15/2025 for $8,250.
- Customer Dispute (FINRA #22-02945): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $100,000; Settled 09/03/2024 for $100,000.
- Customer Dispute (FINRA #22-02391): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $105,000; Settled 01/28/2025 for $8,250.
- Customer Dispute (FINRA #23-00059): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $75,000; Settled 01/31/2025 for $12,000.
- Customer Dispute (FINRA #23-01734): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $86,000; Settled 01/15/2025 for $6,000.
- Customer Dispute (FINRA #22-01937): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $200,000; Settled 01/15/2025 for $15,000.
- Customer Dispute (FINRA #23-01668): Notice served 08/23/2024; alleged unsuitable recommendation; product Alternative Investment; alleged damages $110,000; Settled 08/20/2024 for $110,000.
To obtain a copy of Jason P. Lamb’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 3110 (Supervision) requires member firms to establish and maintain a supervisory system reasonably designed to achieve compliance with applicable securities laws and FINRA rules. In the regulatory action described above, FINRA found (via an AWC) that Lamb failed to supervise certain sales of illiquid, high-risk renewable secured debentures—citing missed “red flags” and insufficient steps to ensure the debenture transactions were suitable and accurately represented—conduct that is commonly analyzed through the lens of Rule 3110 supervisory design, escalation, documentation, and exception review.
FINRA Rule 2111 (Suitability) generally requires that a broker or associated person have a reasonable basis to believe a recommendation is suitable for a customer based on the customer’s investment profile (e.g., objectives, risk tolerance, financial situation, liquidity needs). The disputes summarized in the report repeatedly allege unsuitable investment recommendations in alternative investments and a private placement with alleged damages ranging from $75,000 to $250,000; suitability analysis typically examines whether the customer’s profile supported the product’s risk/illiquidity features, whether concentration limits were exceeded, and whether the investor understood key risks at the time of the transaction.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is often cited as a broad conduct rule that can apply where the alleged facts involve unethical practices, including misleading sales practices or disregard of investor protection obligations. In matters involving alleged unsuitable alternative-investment sales and asserted supervisory red flags, Rule 2010 is frequently implicated alongside suitability and supervision rules because the underlying conduct can reflect a failure to adhere to high standards of commercial honor in recommending, approving, or overseeing complex and illiquid products.
Losing your savings to a dishonest broker or advisor can be devastating, but you do not have to face it alone. Robert Wayne Pearce and his team have spent over four decades helping investors who were misled or defrauded by Wall Street firms. The Law Offices of Robert Wayne Pearce, P.A. takes cases nationwide on a contingency fee basis. You pay nothing unless we recover your losses. Call (800) 732-2889 or email pearce@rwpearce.com today for a free and confidential consultation.
