Zachary Ellis Taylor (CRD #6074776), a financial advisor who previously worked with Oppenheimer & Co. Inc. in Newport Beach, California, and a previously registered broker, has been involved in numerous customer disputes, financial issues, and regulatory challenges in recent years. Despite his extensive experience in the securities industry, Taylor’s career has been marked by a series of legal settlements and financial difficulties, including a workplace termination from Oppenheimer & Co.
Are you a former client of Zachary Ellis Taylor? We are currently investigating claims against Taylor, the type of claims described in Taylor’s FINRA BrokerCheck report. For instance, Taylor was terminated by Oppenheimer in May 2023 due to his inability to properly document that he had authorization for the trades made in a client’s account. It is called unauthorized trading in the industry.
Taylor’s tenure at Oppenheimer spanned from August 2020 to May 2023, following previous employment with Merrill Lynch. Taylor is also involved in multiple customer disputes, including a complaint from April 2022 accusing him of unauthorized trading and making unsuitable investment decisions. Financial advisors must obtain approval for each transaction in accounts, unless they have written discretionary authority from their clients.
Complaints and Financial Issues Against Zachary Ellis Taylor
According to FINRA’s BrokerCheck, Taylor has been involved in several customer disputes and financial disclosures, including a bankruptcy and civil judgment. Below is a summary of the most recent actions involving Taylor.
Disclosures and Settlements
February 7, 2024 — Civil Judgment/Lien
A civil judgment was issued against Taylor for $9,653.90. This judgment adds to the ongoing financial difficulties Taylor has been facing. A civil judgment against a financial advisor is an indicator that the financial advisor may have engaged in unneeded or excessive trading to drive up the commissions or trading costs for themselves.
January 17, 2024 — Customer Dispute (Settled for $170,000)
In this dispute, the claimant alleged various serious accusations, including breach of fiduciary duty, negligence, unauthorized trading, and violations of FINRA rules and state securities and elder abuse laws. The case involved Taylor’s activities from August 2020 to May 2023, with damages requested at $426,000. The case was settled for $170,000, though Taylor commented that the allegations were “parroted and unfounded.”
December 13, 2023 — Customer Dispute (Settled for $50,000)
A client accused Taylor of mismanaging her account between September 2021 and June 2023. The dispute was settled for $50,000. Taylor defended his actions, stating that the investments were suitable and that the portfolio had outperformed the S&P 500.
September 29, 2023 — Customer Dispute (Settled for $85,000)
In another settlement, claimants asserted accusations of breach of contract, fiduciary duty, fraud, and unauthorized trading from June 2021 to June 2023. The case was resolved with an $85,000 settlement. Taylor strongly denied the claims, asserting they were unfounded.
May 30, 2023 — Employment Separation After Allegations
Taylor was discharged from Oppenheimer & Co. Inc. after being unable to provide sufficient evidence to show that he had proper authorization for all trades in a client’s account. This marked a key turning point, leading to his termination.
April 20, 2022 — Customer Dispute (Settled for $250,000)
A customer accused Taylor of unauthorized trading, unsuitable investments, and breach of fiduciary duty related to the conversion of accounts and an over-concentration in ROKU stock. The dispute involved activity from September 2020 to October 2022 and resulted in a $250,000 settlement. Taylor denied all wrongdoing and maintained that his actions were professional and appropriate.
How to Protect Yourself if You Have Been Affected by Zachary Ellis Taylor’s Actions
At Reif Law Group, P.C., we focus on securities arbitration and investment fraud cases, and we are actively investigating the claims against Zachary Ellis Taylor and Oppenheimer & Co. If you believe you’ve suffered financial losses due to his misconduct, including unauthorized trading or unsuitable investment recommendations, you may have legal options.
Our firm is currently investigating claims related to Taylor’s handling of investments, unauthorized trading, and unsuitable recommendations.
Investors are protected under federal and state securities laws, which allow them to seek compensation for losses caused by broker misconduct.
However, it is essential to act quickly to preserve your rights. Contact our firm today for a free consultation to discuss how we can help you recover your losses.
Don’t wait—reach out to protect your investment and explore your legal options.
