Shepherd Smith Edwards & Kantas LLP Files Claim Involving Maria Hendershott And Raymond James & Associates

HOUSTON, Oct. 10, 2017 /PRNewswire/ -- Lawyers with the Securities Law Firm of SHEPHERD SMITH EDWARDS & KANTAS LLP, www.sseklaw.com, have recently filed a claim on behalf of a client of Maria Hendershott ("Hendershott") and Raymond James & Associates, Inc. ("Raymond James") alleging that her accounts were over-concentrated in oil & gas company stocks and similar investments.  Hendershott is a registered stock broker with Raymond James in Houston, Texas. According to the claim, the client met with Hendershott to discuss financial planning and for assistance with preparing for the client's retirement.  Hendershott convinced the client to transfer all of client's retirement money to Raymond James, where Hendershott began wholesale changes of the client's accounts.  The accounts should have been invested consistent with a client looking to retire in the near future, but was instead highly concentrated in volatile energy positions causing large damages to the value of client's portfolio in a short period of time. 

The claim alleges that Hendershott, instead of investing the money in suitable, low-risk investments appropriate for a client looking to retire in the near future, actually began a risky strategy of placing nearly all of client's money into volatile energy stocks.  Hendershott lost a substantial portion of the client's retirement in a matter of months.  The investments described in the complaint as selected by Hendershott included multiple exchange trade funds (ETFs) and other investments based upon the energy market.  Proper diversification is critical in maintaining a well- balanced account.  Concentrating a significant portion of a Client's portfolio is one particular type of security or industry, as alleged in the client's complaint, carries a very high risk of loss. 

Typically, when a broker engages in wholly inappropriate trading with one of their clients, there are many other clients who were mistreated, misled, or otherwise hurt without even realizing it.  As such, people who currently or in the past have held brokerage accounts with Maria Hendershott at Raymond James should carefully review their accounts to ensure that there were not problems.  If you are or were a client of Maria Hendershott or Raymond James and lost significant money, contact the law firm of Shepherd, Smith, Edwards & Kantas LLP for an evaluation of your account to determine if you might have a claim to attempt to recover some or all of your losses.  All communications will be kept strictly confidential, and you will not be billed in any way for a consultation. 

Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. For more than two decades, our firm has represented thousands of investors nationwide to recover losses. We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions.

Contact Info: 800-259-9010

Sam Edwards [email protected]

Jason Humble [email protected]

SOURCE Shepherd Smith Edwards & Kantas LLP