Joel Woods: Ex-Legacy Financial Advisor Faces $750K Complaint

Former Fort Worth, Texas financial advisor Joel Woods (CRD# 1470780) has received multiple investor complaints alleging that he recommended unsuitable investments. Financial Industry Regulatory Authority records show that he was most recently registered as a broker and an investment advisor with LPL Financial, doing business as Legacy Financial Services.

Mr. Woods’ BrokerCheck report discloses multiple investor complaints. The most recent, filed in December 2024, alleged that as a representative of Concorde Financial Services, he recommended an unsuitable REIT, breached his fiduciary duty, acted negligently, and breached contract. The pending complaint alleges damages of $750,000.

An earlier investor complaint, filed in 2021, alleged that as a Concorde representative, he made an unsuitable recommendation, acted negligently, and misrepresented an investment. In 2022 the complaint reached a settlement of $27,600.

A third investor complaint, filed in 2012, alleged that as a representative of EDI Financial, he recommended unsuitable private placements. In 2013 the complaint reached a settlement of $155,000.

Legacy Financial Services’ website includes a profile of Mr. Woods that describes his background and services. “Joel began his financial services business in Stephenville, TX in 1986,” it explains. “Joel’s personal goal is to make his clients feel special, while being that trusted financial advisor who keeps their best interest at heart; he genuinely wants his clients to enjoy their retirement years.”

According to the Financial Industry Regulatory Authority, Joel Woods holds 38 years of securities industry experience. Most recently based in Fort Worth, Texas, he was registered as a broker with LPL Financial from 2021 until 2024, doing business as Legacy Financial Services. His registration history includes Concorde Investment Services, EDI Financial, SunAmerica Securities, Signal Securities, NationsSecurities, First Affiliated Securities, and Thomson McKinnon Securities. His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is no longer registered as a broker or as an investment advisor. (Information current as of April 5, 2025.)

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