Our firm is investigating LPL Financial LLC broker and investment adviser Roosevelt Emanual Grayson (CRD# 1328135) of Farmington Hills, Michigan for potential investment-related misconduct.
Financial Advisor’s Career History
Based on his FINRA BrokerCheck report, Roosevelt Emanual Grayson has worked in the securities industry for decades and has been registered with multiple firms, including IDS Financial Services Inc. and IDS Marketing Corporation (starting in March 1985), Pruco Securities Corporation, Great Lakes Equities Co., Pamco Securities and Insurance Services, Liberty Securities Corporation, Independence One Brokerage Services, Inc., Essex National Securities, Inc., First Chicago NBD Investment Services, Inc., Banc One Securities Corporation, and Citigroup Global Markets Inc.
From January 2007 through October 2012, he was registered with Chase Investment Services Corp., followed by J.P. Morgan Securities LLC from October 2012 through January 2015. He has been registered with LPL Financial LLC since December 2014 (reported as “Present”) and lists Farmington Hills, Michigan as his employment location.
Roosevelt Emanual Grayson Fraud Allegations and Investor Complaints Explained
For context, BrokerCheck reflects the following customer disputes:
- NASD arbitration (Case #95-02262): Allegations of negligence, breach of contract, breach of fiduciary duty, and misrepresentation; settled (Disposition Date: 05/12/1996); alleged damages $97,356.00; reported monetary compensation $65,000.00.
- Customer complaint received 11/18/2008 (Chase Investment Services Corp.): Alleged misrepresentation relating to a variable annuity; denied (Status Date: 03/19/2009); alleged damages $15,322.59; settlement $0.00.
- Customer complaint received 03/10/2011 (Chase Investment Services Corp.): Alleged misrepresentation and failure to follow instructions regarding a mutual fund investment (activity date reported 11/08/2010); settled (Status Date: 05/05/2011); alleged damages $8,175.00; settlement $5,530.98.
- Customer complaint received 11/18/2024 (LPL Financial LLC): Alleged unsuitable recommendation and poor advice involving a variable universal life policy; denied (Status Date: 12/20/2024); alleged damages reported as $0.00, with an additional notation that alleged damages were over $5,000 (exact amount not specified).
1995–1996 NASD Arbitration Alleging Improper Advice on Sale of Philip Morris Stock
BrokerCheck reflects an arbitration matter (NASD Case #95-02262) tied to Independence One Brokerage Services, Inc., with allegations that included negligence, breach of contract, breach of fiduciary duty, and misrepresentation. The dispute described a customer claim of improper advice regarding the sale of Philip Morris stock and requested damages tied to capital gains taxes and alleged lost opportunity.
The matter was reported as settled with a Disposition Date of 05/12/1996 and Monetary Compensation of $65,000.00, against alleged damages reported as $97,356.00.
2008–2009 Customer Complaint Alleging Variable Annuity Misrepresentation
BrokerCheck reflects a customer complaint received 11/18/2008 while Mr. Grayson was associated with Chase Investment Services Corp. The customer alleged misrepresentation relating to a variable annuity investment and reported alleged damages of $15,322.59.
The complaint was denied with a status date of 03/19/2009, and the report reflects no settlement payment.
2010–2011 Customer Complaint Alleging Mutual Fund Misrepresentation and Failure to Follow Instructions
BrokerCheck reflects a customer complaint received 03/10/2011 involving Chase Investment Services Corp. The allegations were misrepresentation and failure to follow instructions regarding a mutual fund investment, with activity dates reported as 11/08/2010–11/08/2010.
Alleged damages were reported as $8,175.00, and the matter was reported as settled (Status Date: 05/05/2011) for $5,530.98.
2024 Customer Complaint Alleging Unsuitable Universal Life Policy Recommendation
BrokerCheck reflects a customer complaint received 11/18/2024 while Mr. Grayson was associated with LPL Financial LLC. The allegations described an unsuitable recommendation and poor advice involving an Other: Variable Universal Life Policy.
The complaint was denied (Status Date: 12/20/2024). BrokerCheck reports alleged damages as $0.00, while also indicating the alleged damages were over $5,000 (without listing an exact figure).
To obtain a copy of Roosevelt Emanual Grayson’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is implicated when a broker’s conduct reflects unethical sales practices, including misleading communications or disregard for a client’s instructions, because the rule requires members and associated persons to observe high standards in their business conduct.
FINRA Rule 2111 (Suitability) matters when allegations involve an unsuitable recommendation—such as the 2024 complaint tied to a variable universal life policy—because a recommendation is expected to align with the client’s investment profile, objectives, time horizon, liquidity needs, and risk tolerance.
FINRA Rule 2020 (Use of Manipulative, Deceptive, or Other Fraudulent Devices) is relevant to allegations of misrepresentation—such as the variable annuity and mutual fund complaints—because the rule broadly prohibits deceptive or fraudulent practices in connection with the purchase or sale of securities.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
