Timothy David Ballard First Suspended and Now Permanently Barred by FINRA

Outside business activities involving elderly clients cost him his career

As of April 2017, Timothy David Ballard is no longer allowed to act as a broker or have anything to do with firms that sell securities to the public. It was then that he was permanently barred by the Financial Industry Regulatory Authority (FINRA).

Ballard had three months to appeal a suspension from FINRA, but because he failed to do so, the agency had no choice but to bar him. The suspension and subsequent barring were related to Ballard’s outside business activity. For a year, Ballard worked at Sunrise Senior Living in Danville, CA, while reportedly also selling securities to residents of the center through his firm, Securities America, Inc. out of Livermore, CA.

When it was discovered what he was doing, Securities America fired him for not responding to their requests regarding his outside activities. In addition to that most recent firm, Ballard worked for eight others beginning in 1982:

• IDS/America Express Inc.
• IDS Marketing Corporation
• Bretcourt Securities Corporation
• FSC Securities Corporation
• Anchor National Financial Securities, Inc.
• SunAmerica Securities, Inc. – Phoenix, AZ
• AIG Financial Advisor, Inc. – San Ramon, CA
• National Planning Corporation – Danville, CA

Since 2006, Ballard has been involved in several customer disputes filed with FINRA. The charges against him include unsuitability, fraud, mismanagement, and churning. Churning means that a broker makes an excessive amount of trades for the purpose of generating extra commissions.

More information about Timothy David Ballard can be found in FINRA’s BrokerCheck report.

Brokers have a duty to do what is in the best interests of their clients, and if you believe yours took advantage of you or an older family member, you need to do something about it. Lost funds may be recovered through securities arbitration or other legal means, but it’s important to first talk with an experienced elder fraud attorney. For a free consultation, get in touch with the Silver Law Group. We’ve helped many people recover money, and we may be able to do the same for you. Call us toll free at 1-800-975-4345 or send us a message through our online form.