Jesse Taylor Burns (CRD# 6702814) is a broker and investment adviser representative currently registered with Fidelity Brokerage Services LLC in Durham, North Carolina, and Strategic Advisers LLC in Statesville, North Carolina, whom our firm is investigating for potential investment-related misconduct tied to a customer dispute alleging misrepresentation of investment risks in a managed account.
Financial Advisor’s Career History
According to publicly available FINRA BrokerCheck records, Jesse Burns has worked in the securities industry since 2017. He is currently registered as a General Securities Representative with Fidelity Brokerage Services LLC (CRD# 7784), based at 100 New Millennium Way, Durham, North Carolina, and as an investment adviser representative with Strategic Advisers LLC (CRD# 104555), working from a branch location in Statesville, North Carolina.
Burns has been registered with Fidelity Brokerage Services LLC since June 25, 2021, and with Strategic Advisers LLC since March 31, 2025. Before joining the Fidelity organization, he was associated with PNC Investments (CRD# 129052) in Canton, Ohio, from October 2019 through May 2021 in both broker and investment adviser capacities.
His earlier industry experience includes working for J.P. Morgan Securities LLC (CRD# 79) in Ravenna, Ohio, as a broker and investment adviser from April 2018 to September 2019, and for Charles Schwab & Co., Inc. (CRD# 5393) in Richfield, Ohio, from June 2017 to March 2018. Prior to entering the brokerage industry, his employment history reflects non-investment roles with Citizens Bank, Quicken Loans, and Kent State University.
Jesse Burns Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck discloses one settled customer dispute involving Jesse Burns arising from his time at Fidelity Brokerage Services LLC. This disclosure concerns allegations that Burns misrepresented the risk of investment losses in a customer’s managed account, resulting in more than $22,000 in claimed damages.
The complaint was received on May 13, 2022. The customer alleged that the representative misrepresented the risk of investment losses in a managed account product, classified by the firm as “Other: Managed account.” The customer claimed damages of $22,873.74. On July 14, 2022, the matter was reported as settled for $22,873.74, with no contribution by Burns personally; the settlement was paid entirely by the firm. The disclosure indicates this was an oral complaint and did not proceed to arbitration or civil litigation.
Although this is a single event, allegations that a representative downplayed or misstated the risk of investment losses in a managed account raise serious concerns about potential misrepresentation, suitability, and broader investment fraud issues under FINRA rules and securities laws.
Summary of FINRA-Reported Disclosure
- Customer Dispute – Settled (Fidelity Brokerage Services LLC)
- Allegations: Customer alleged that Burns misrepresented the risk of investment losses in her managed account.
- Product Type: Other – managed account.
- Date Complaint Received: May 13, 2022.
- Alleged Damages: $22,873.74.
- Settlement: Matter settled on July 14, 2022, for $22,873.74.
- Individual Contribution: $0.00; the firm paid the full settlement amount.
- Form of Complaint: Oral complaint; no arbitration or court filing reported.
As with all BrokerCheck disclosures, the reported allegations may be disputed by the broker, and a settlement does not by itself constitute an admission of wrongdoing. However, the size of the payment and the nature of the misrepresentation allegations can be important indicators for investors evaluating whether to continue or initiate a relationship with this broker.
To obtain a copy of Jesse Burns’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
In cases like the one involving Jesse Burns, FINRA Rule 2111 (Suitability) is often central. Rule 2111 requires that a broker or associated person have a “reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer” based on the customer’s investment profile, including factors such as age, financial situation, risk tolerance, investment objectives, time horizon, and liquidity needs. When a customer alleges that a broker misrepresented the risk of losses in a managed account—particularly if the account was described as conservative or low-risk—questions arise about whether the broker satisfied the reasonable-basis and customer-specific components of suitability. In that context, mischaracterizing or understating risk can lead to an unsuitable concentration in riskier asset classes or strategies, leaving the investor exposed to losses they never agreed to accept. Linking the alleged conduct to FINRA Rule 2111’s suitability obligations is an important part of evaluating whether the firm failed to recommend or maintain an appropriate portfolio given the client’s profile.
Another key standard in these cases is FINRA Rule 2010 (Standards of Commercial Honor and Just and Equitable Principles of Trade). Rule 2010 requires that member firms and associated persons conduct their business with high standards of commercial honor and just and equitable principles of trade. Even when there is no explicit lie on a disclosure document, systematically downplaying risk, glossing over potential losses, or failing to explain how a managed strategy might behave in down markets can violate the ethical baseline imposed by Rule 2010. In the context of the allegations against Burns, if a customer was led to believe that a managed account could not experience material losses when the underlying strategy plainly involved market risk, that kind of misrepresentation or omission can be framed as a breach of high ethical standards and may support claims for negligence or breach of fiduciary duty in addition to suitability violations.
Misrepresentation cases involving managed accounts also frequently implicate FINRA Rule 2210 (Communications with the Public). Rule 2210 requires that all member communications be fair and balanced, based on principles of fair dealing and good faith, and that they not omit material facts or qualifications in a way that would make them misleading. This standard applies not only to glossy marketing brochures but also to the day-to-day explanations brokers provide to customers about how a managed account works and what level of volatility or downside risk they should expect. If a broker emphasizes potential upside while minimizing or failing to clearly disclose the possibility of significant losses, those communications may fall short of Rule 2210’s requirement that risk be explained in a fair, balanced manner. In the dispute involving Burns, the customer’s allegation that he misrepresented the risk of investment losses in her managed account naturally raises questions about whether his communications adequately disclosed the strategy’s true risk profile, as required under Rule 2210.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis. Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.