Our firm is investigating B. Riley Wealth Advisors/B. Riley Wealth Management financial advisor and registered representative Francis Patrick Cunningham (CRD# 2105075) of Memphis, Tennessee for potential investment-related misconduct.
Financial Advisor’s Career History
FINRA BrokerCheck records reflect that Francis Patrick Cunningham has worked in the securities industry for decades, including registrations with the following firms (dates reflect reported registration periods and locations):
- First Tennessee Brokerage, Inc. (Memphis, TN) — 03/1999 to 04/2000
- Morgan Keegan & Company, Inc. (Memphis, TN) — 04/2000 to 07/2009 (with additional IA registration reported 03/2004 to 07/2009)
- B. Riley Wealth Management (Memphis, TN) — 06/2009 to 04/2025 (with additional IA registration reported 07/2009 to 12/2022)
- B. Riley Wealth Advisors, Inc. (Memphis, TN) — 08/2022 to 04/2025
- Stifel, Nicolaus & Company, Incorporated (Memphis, TN) — 04/2025 to 12/2025
- B. Riley Wealth Advisors, Inc. / B. Riley Wealth Management (Memphis, TN) — registered since 11/14/2025 (as reflected in the “currently employed by and registered with” section of the report)
Francis Patrick Cunningham Fraud Allegations and Investor Complaints Explained
Pending customer dispute alleging unauthorized activity and churning (Stifel)
FINRA BrokerCheck reflects a pending customer dispute reported by the firm, alleging that while Cunningham was associated with Stifel, Nicolaus & Company, Incorporated, the customer experienced an unauthorized transfer of the account, unauthorized purchases and sales of assets, and churning, involving listed equities and mutual funds. The complaint was received on 10/31/2025, with alleged damages of $18,469.04, and the matter is reported as pending.
For context, the reported disclosures include:
- Customer Dispute (Pending) — Allegations: unauthorized transfer of account; unauthorized purchases and sales of assets; churning. Product types: listed equities; mutual funds. Alleged damages: $18,469.04. Complaint received: 10/31/2025. Status: Pending.
- Employment Separation After Allegations (Discharged) — Employer: Stifel, Nicolaus & Company, Incorporated. Termination date: 11/06/2025. Allegation: “Loss of confidence: not adhering to firm order entry procedures.” Disposition reported as a discharge.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
We evaluate whether misconduct supports a FINRA arbitration claim
Our attorneys assess whether the allegations—such as unauthorized trading, excessive trading (churning), or account transfers made without permission—support claims for damages in FINRA arbitration and related recovery channels.
We build claims around documented evidence and compensable harm
We focus on account statements, order history, confirmations, correspondence, and the customer’s investment profile to evaluate causation, quantify damages, and determine the most effective legal strategy.
We pursue accountability from advisors and firms when supervision fails
When investor harm is connected to deficient supervision, inadequate controls, or policy noncompliance, we evaluate potential claims against the broker, the brokerage firm, or both.
Francis Patrick Cunningham’s pending complaint includes allegations of unauthorized purchases and sales, unauthorized account transfer activity, and churning—conduct that is commonly evaluated under FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) because that rule broadly prohibits unethical conduct and can be implicated when trading activity is alleged to be unauthorized or inconsistent with basic standards of fair dealing.
The churning allegation is also typically analyzed through the lens of FINRA Rule 2111 (Suitability) because excessive trading can indicate that recommendations or trading strategies were inconsistent with the customer’s investment profile, objectives, risk tolerance, and time horizon—particularly when transaction volume appears designed to generate commissions or fees rather than serve the investor’s stated goals.
FINRA BrokerCheck also reflects a discharge tied to allegations of “not adhering to firm order entry procedures,” which can implicate supervisory and compliance expectations commonly addressed under FINRA Rule 3110 (Supervision) because member firms must maintain and enforce supervisory systems designed to achieve compliance with securities laws and FINRA rules, including controls around order entry, approvals, and escalation when procedural violations occur.
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.