Our firm is investigating Raymond James Financial Services, Inc. financial advisor Brian Scott Rimel (CRD# 2072727) of St. Petersburg, Florida for potential investment-related misconduct.
Financial Advisor’s Career History
Public records reflect that Brian Scott Rimel has been associated with the following securities firms:
- Raymond James Financial Services, Inc. — Registered since 03/05/2015 (St. Petersburg, FL).
- Raymond James Financial Services Advisors, Inc. — Registered since 03/10/2015 (St. Petersburg, FL).
- Raymond James & Associates, Inc. — Previously registered 03/1992 – 03/2015 (St. Petersburg, FL).
BrokerCheck also lists non-investment-related outside business activities, including “mainsail wealth management” (owner) and “L & E Consumer Research” (consulting/participant), as reported on Form U4.
Brian Scott Rimel Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects one customer dispute reported for this advisor.
FINRA Customer Dispute: UTMA Accounts, Alleged Refusal to Buy a Low-Priced Security, and Alleged Unsuitable Money Market Recommendation
According to the disclosure, a customer—identified as the custodian of UTMA accounts for his children—alleged two core issues: (1) the advisor improperly refused to purchase a low-priced security for the UTMA accounts, and (2) the advisor’s recommendation of a money market fund for those accounts was unsuitable.
Key case details reported on BrokerCheck include:
- Alleged damages: $108,149.15
- Date notice/process served: 01/13/2026
- Forum: FINRA
- FINRA docket/case #: 25-02793
- Disposition: Settled on 02/02/2026 with $20,000.00 in monetary compensation reported
- Individual contribution amount (reported): $0.00
BrokerCheck also includes a broker statement summarizing the advisor’s position that he did not believe it was “prudent or suitable” to invest UTMA assets in a “concentrated penny stock security,” and that he recommended a “higher-yielding money market mutual fund” as an alternative to holding cash in a low-yield bank deposit program; the statement notes the “claims settled for the cost of defense.”
Disclosures (for context):
- Customer Dispute (FINRA) — Settled (Final): UTMA custodian alleged refusal to purchase a low-priced security and alleged unsuitable money market recommendation; alleged damages $108,149.15; settled 02/02/2026 for $20,000; FINRA case #25-02793.
To obtain a copy of Brian Scott Rimel’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) is frequently analyzed when a customer alleges that a recommended investment (or investment strategy) did not align with the customer’s investment profile. In the UTMA dispute reported for Brian Scott Rimel, suitability considerations can be implicated by the allegation that the money market fund recommendation was “unsuitable”—which typically turns on whether the product selection and rationale reasonably matched the account’s objectives, risk parameters, liquidity needs, and time horizon as understood at the time of recommendation.
FINRA Rule 2090 (Know Your Customer) requires reasonable diligence to understand the essential facts concerning each customer and the authority structure of the account relationship. In a complaint involving UTMA accounts, “know your customer” analysis often overlaps with understanding the account’s purpose and constraints, the custodian’s instructions, and the investment parameters that should govern recommendations and trade decisions—issues directly implicated where a customer alleges the advisor refused to purchase a requested security and instead guided assets into a different product.
FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is commonly referenced as a baseline ethical conduct rule when customers allege unfair or improper sales-practice behavior. In a dispute alleging both a refusal to execute a requested purchase and an unsuitable recommendation, Rule 2010 may be analyzed as an overarching conduct standard—especially where an investor contends the advisor’s actions were inconsistent with fair dealing in the handling of instructions and the selection of investments for the account.
Losing your savings to a dishonest broker or advisor can be devastating, but you do not have to face it alone. Robert Wayne Pearce and his team have spent over four decades helping investors who were misled or defrauded by Wall Street firms. The Law Offices of Robert Wayne Pearce, P.A. takes cases nationwide on a contingency fee basis. You pay nothing unless we recover your losses. Call (800) 732-2889 or email pearce@rwpearce.com today for a free and confidential consultation.