Jonmark Richardson: Financial Partners Advisor Faces $219K Complaint

Glendale, Arizona financial advisor Jonmark Richardson (CRD# 4919603) recently received an investor complaint alleging that his conduct resulted in damages exceeding $200,000. Securities and Exchange Commission records show that he is registered as an investment advisor with Valhalla Advisors and a life insurance agent with Financial Partners of America.

Mr. Richardson’s Investment Adviser Public Disclosure form discloses multiple investor complaints. The most recent, filed in May 2024, alleges that as a representative of Financial Partners of America, he recommended an unsuitable private placement, committed securities fraud, breached his fiduciary duty, and negligently misrepresented material facts. The pending complaint alleges damages of $219,000.

An earlier investor complaint, filed in 2023, alleged that he recommended an unsuitable private placement while registered with Financial Partners of America. The complaint reached a settlement of $84,000.

A third investor complaint, filed in 2022, similarly alleged that as a Financial Partners of America representative, he recommended an unsuitable private placement, committed fraud, and breached his fiduciary duty. In 2023 the complaint also reached a settlement of $84,000.

A fourth disclosure on his Investment Adviser Public Disclosure concerns a lawsuit filed against him in the 18th Juridicial District Court of Sedgewick County, Kansas. “Mr. Richardson acted as a Promoter for a Private Equity Firm, Premier Global Investments, that later was sued by Oklahoma and Kansas Regulators,” the lawsuit alleges. “The allegations against Premier Global involve misrepresentations, Omissions and financial improprieties. The lawsuit pending against Mr. Richardson was brought to recover the commissions earned by Mr. Richardson in his role as solicitor for the fund.” The lawsuit remains pending.

According to the Securities and Exchange Commission, Jonmark Richardson holds three years of securities industry experience. Based in Glendale, Arizona, he has been registered with Valhalla Advisors since 2020. His credentials include the passage of the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona. (Information current as of August 25, 2024.)

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