JoAnna Westcott: LPL/Bill Westcott Advisor Faces ETF Complaint

Tucson, Arizona financial advisor JoAnna Westcott (CRD# 1187278) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor registered with LPL Financial, doing business as Bill Westcott Inc.

Ms. Westcott’s BrokerCheck report discloses one investor complaint. Filed in November 2023, it alleges that as a representative of LPL Financial, she recommended unsuitable investments in stock and exchange-traded funds. The pending complaint alleges unspecified damages of more than $5,000. In a statement included with the complaint’s disclosure, Ms. Westcott denied any wrongdoing. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals, and financial circumstances,” she wrote, adding: “At all times, the representative and firm put the customer’s interest first.”

A profile on Bill Westcott Inc.’s website identifies Ms. Westcott as the firm’s president. “She utilizes a holistic approach, tailoring her financial guidance to suit the unique circumstances of each person,” it states. “She uses her previous experience as a business coach in combination with decades of financial consulting to continuously improve the comfort level of each client experience.”

On a separate page, the firm describes its own investment philosophy. “We take a long-term approach to retirement and investing to help you navigate the path to lifetime financial goals with confidence,” it explains. “We believe having a qualified advisor is an important tool for making many kinds of financial decisions. For nearly four decades, we have taken the time to make trust and understanding the central feature of every relationship.”

Other current or former LPL Financial advisors to receive investor complaints include Matt Engelau, Ian Geeves, John Demertzis, Barry Buchholz, and Brian Bates.

According to the Financial Industry Regulatory Authority, JoAnna Westcott holds 20 years of securities industry experience. Based in Tucson, Arizona, she has been a broker and an investment advisor with LPL Financial since 2004, doing business as Bill Westcott Inc. She was previously registered with Legend Equities Corporation in Palm Beach Gardens, Florida from 2003 until 2004. Her credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. She holds 26 state licenses. (Information current as of December 11, 2023.)

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