Roger Allen Barnett II (CRD# 1209301) is a registered stockbroker and general securities principal currently associated with LPL Financial LLC in the firm’s Brentwood, Tennessee branch office. Our firm is investigating Mr. Barnett for potential investment-related misconduct arising from a pending customer dispute that alleges unsuitable recommendations in real estate investment trust (REIT) products.
Financial Advisor’s Career History
Mr. Barnett has spent decades in the securities industry, holding registrations with FINRA and multiple U.S. states and territories. He is currently approved as a General Securities Principal and General Securities Representative with LPL Financial LLC and is licensed in at least 12 states, including Florida, Georgia, Illinois, Michigan, New York, Pennsylvania, Tennessee, and Texas.
Long Tenure in the Securities Industry
According to his FINRA BrokerCheck report, Mr. Barnett entered the industry in the early 1980s and has been registered with several broker-dealers over the course of his career:
- LPL Financial LLC (CRD# 6413) – Brentwood, TN
- Registered Representative and General Securities Principal
- Registered with this firm since January 23, 2020; branch office in Brentwood, Tennessee.
- Hornor, Townsend & Kent, LLC (CRD# 4031) – Brentwood, TN
- Registration dates: October 2017 – January 2020
- The O.N. Equity Sales Company (CRD# 2936) – Nashville, TN
- Registration dates: January 1992 – October 2017
- Capital Analysts, Incorporated (CRD# 5478) – Cincinnati, OH
- Registration dates: July 1991 – January 1992
- Thomson McKinnon Securities Inc. (CRD# 829)
- Registration dates: August 1987 – March 1988
- Drexel Burnham Lambert Incorporated (CRD# 7323)
- Registration dates: December 1983 – July 1987
In addition to his brokerage roles, Barnett has reported various insurance-related and other business positions, including service as a general agent and insurance agent. He has also disclosed an outside business activity as Secretary and board member of Creekwood Marina, Inc. in Hendersonville, Tennessee, a for-profit boating recreation marina.
ROGER A. BARNETT II Fraud Allegations and Investor Complaints Explained
According to FINRA BrokerCheck, Mr. Barnett has one pending customer dispute disclosure. Investors should understand that a pending complaint reflects allegations, not proven facts, and the matter may ultimately be dismissed, resolved in Barnett’s favor, or settled without any admission of wrongdoing.
Pending REIT Unsuitability Arbitration
- Type of disclosure: Customer Dispute – Pending (FINRA arbitration)
- Reporting source: Broker
- Employing firm at time of events: The O.N. Equity Sales Company (CRD# 2936)
- Allegations:
- The customer alleges that investments made in 2016 were unsuitable for the customer’s investment objectives and risk tolerance.
- The products at issue include REIT (Real Estate Investment Trust) investments.
- Alleged damages: $125,000.00 in compensatory damages.
- Date notice/process served: August 12, 2025
- Forum and case number: FINRA arbitration, Docket/Case No. 25-01672.
- Status: Arbitration pending – the claim remains unresolved.
- Broker’s response: Mr. Barnett has submitted a statement in which he denies all allegations.
Summary of BrokerCheck Disclosures
For context, Mr. Barnett’s BrokerCheck report currently reflects the following disclosure history:
- Customer Disputes:
- 1 Pending Customer Dispute involving alleged unsuitable REIT recommendations made in 2016, seeking $125,000 in damages in a FINRA arbitration filed under Case No. 25-01672. Status: Pending; no final decision or settlement reported as of the most recent update, and Barnett denies the allegations.
At this stage, no regulatory actions, criminal matters, or finalized civil judgments are reported on his BrokerCheck file in connection with these allegations. Investors should keep in mind that FINRA records may be updated as the arbitration proceeds.
To obtain a copy of Roger Allen Barnett II’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (the Suitability Rule) requires that when a broker “recommends” a security or investment strategy, the recommendation must be suitable for the customer based on information obtained through reasonable diligence, including the customer’s financial situation, investment objectives, risk tolerance, time horizon, and other profile information. In the pending dispute involving Mr. Barnett, the customer alleges that REIT investments made in 2016 were unsuitable given the customer’s investment objectives and risk tolerance, and seeks $125,000 in damages. If it were proven that Barnett recommended REITs that were inconsistent with the customer’s profile, concentrated the account in illiquid or higher-risk products, or failed to fully explain the risks and fees, such conduct could be found to violate FINRA Rule 2111’s suitability requirements.
FINRA Rule 2010 requires brokers to “observe high standards of commercial honor and just and equitable principles of trade.” This rule is often cited in conjunction with more specific rules such as Rule 2111 when alleged misconduct involves misleading customers, failing to disclose material risks, or placing the broker’s interests ahead of the customer’s. In the context of the allegations against Mr. Barnett, if arbitrators were to find that he recommended unsuitable REIT investments, failed to properly disclose the illiquidity or risks, or disregarded the customer’s risk tolerance and objectives, those findings could support a conclusion that he failed to uphold the ethical standards mandated by FINRA Rule 2010, even apart from any specific suitability violation.
FINRA Rule 3110 addresses supervisory responsibilities, requiring member firms such as LPL Financial and, previously, The O.N. Equity Sales Company, to establish and maintain a supervisory system reasonably designed to ensure compliance with FINRA rules and federal securities laws. Unsuitable sales of REITs or similar products often raise questions not only about the individual broker’s conduct but also about whether the firm adequately supervised recommendations, reviewed account activity, and monitored for red flags such as overly concentrated positions or patterns of unsuitable sales to seniors or conservative investors. If the allegations relating to Mr. Barnett’s 2016 REIT recommendations were substantiated, arbitrators or regulators might examine whether supervisory systems and branch-level oversight complied with Rule 3110, including whether managers properly reviewed and approved the transactions and followed up on any indications of potential unsuitability.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker misconduct and investment fraud. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.