PHX Advisor Mark Hermes: Churning Complaint Denied by Firm

Fort Lauderdale financial advisor Mark Hermes (CRD# 4200965) recently received a denied investor complaint alleging that his conduct resulted in losses. Records provided by the Financial Industry Regulatory Authority show that he is currently registered as a broker with PHX Financial, having previously been registered with Joseph Gunnar & Company.

Mr. Hermes’ BrokerCheck report discloses two investor complaints. The most recent, filed in March 2023, alleges that he utilized a “trading strategy for speculative short-term investments… to generate excessive commissions,” churned investments, acted negligently, and purchased unsuitable stocks. The complaint alleged damages of $50,000 and was denied by the firm.

An earlier investor complaint, filed in 2014, alleged that as a representative of Sterne Agee Financial Services, he executed unauthorized trades between February and March 2014. The complaint alleged unspecified damages of more than $5,000 and was denied by the firm.

According to the Financial Industry Regulatory Authority, Mark Hermes holds 19 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been registered as a broker with PHX Financial since January 2023. His registration history includes Joseph Gunnar & Company (2019-2022), Westpark Capital (2016-2019), Newport Coast Securities (2016), Freedom Investors Corporation (2016), Newport Coast Securities (2015), Laidlaw & Company (2014), Sterne Agee Financial Services (2009-2014), Emmet A. Larkin & Company (2008-2009), LF Financial (2007), Pointe Capital (2006), Salomon Grey Financial Corporation (2003-2006), Lloyd Scott & Valenti (2003), CGF Securities (2003), Kovack Securities (2003), JP Turner & Company (2002-2003), Platinum Investment Corporation (2002), LH Ross & Company (2002), Salomon Grey Financial Corporation (2001-2002), and Emerson Bennett & Associates (2000-2001). His 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 Securities Agent State Law Examination, or Series 63. He is licensed in Alabama, Arizona, California, Colorado, Florida, Georgia, Iowa, Kansas, Louisiana, Minnesota, Nebraska, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Texas, and Virginia. (Information current as of April 17, 2023.)

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