Chris Stocks: FINRA Investigates Prospera/Stocks Wealth Advisor

Paradise Valley, Arizona financial advisor Chris Stocks (CRD# 2600346) is under investigation in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Prospera Financial Services, and that he is the founder of Stocks Wealth Management.

Mr. Stocks’ BrokerCheck report discloses FINRA’s investigation into his conduct. Filed in July 2024, it states that FINRA has “made a preliminary determination to recommend disciplinary action” against him with regard to allegations that he violated FINRA rules concerning failed to disclose outside business activities, failed to provide written notice prior to participating in a private securities transaction, and provided false information on annual compliance attestations. FINRA’s investigation remains pending.

A second disclosure on his BrokerCheck report concerns his termination from Morgan Stanley. Filed in 2021, it states that the firm fired him in connection with allegations involving his “participation and activities in an outside hotel investment in which clients of the Firm were also invested.”

Stocks Wealth Management’s website includes a page describing the firm’s mission. “Our mission is to get to know and understand your needs, wants, and long-term goals,” it explains. “From managing debt to saving for college to retirement, these personal finance challenges can be overwhelming. Our commitment is to utilize all of our resources to help you pursue your goals. We believe in going above and beyond to create client solutions. All of our energy, commitment, and efforts are focused on you, the client, and your satisfaction.”

According to the Financial Industry Regulatory Authority, Chris Stocks holds 29 years of securities industry experience. Based in Paradise Valley, Arizona, he has been registered as a broker and an investment advisor with Prospera Financial Services since 2022. He is the founder and CEO of Stocks Wealth Management. His registration history includes Morgan Stanley, Morgan Stanley Smith Barney, Morgan Stanley & Company, and Morgan Stanley DW. His credentials include the passage of five securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE: the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He holds 24 state licenses. (Information current as of July 29, 2024.)

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