AXA Advisors' Chad Hornaday Barred for Selling Away and Borrowing Money from Client

Attorney Advising Disclaimer

FINRA barred former AXA Advisors (Carlsbad, CA) representative Chad Daniel Hornaday for failing to provide requested information in connection with an investigation into allegations that he received loans from a client and invested away from the firm.

According to his (CRD #2776038) BrokerCheck Report, AXA Advisors permitted Hornaday to resign in 2016 after the firm began an internal review to investigate allegations of improper loans and selling away conduct.

A relevant customer dispute in Hornaday's file alleges that Hornaday solicited personal loans, embezzled money by selling securities that were non-existent and unregistered, made unsuitable recommendations, and sold away from his firm from 2013 to 2016. The complaint seeks $453,000 in damages.

Prior to his association with AXA Advisors in Carlsbad, Hornaday was registered with National Planning Corporation in Lake Forest, California and Independent Financial Group (IFG) in San Clemente.

The report also lists an outside business activity based in San Marcos (San Diego County), CA that involves servicing insurance-related non-equity indexed life and annuity products.

If you have invested with Southern California broker Chad Daniel Hornaday or with any representative or financial adviser whose solicitation of personal loans, unsuitable recommendations in unregistered securities, or sales conducted away from and outside of their association with a FINRA-registered brokerage has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • Fraudster Greg Lindberg, Owner of Northstar (Bermuda) and Colorado Bankers Life, Guilty of Bribery Read More
  • Jeffries Broker Cited for Using WhatsApp To Conduct Securities Business Read More
  • After $13 Million in Penalties for 'Widespread Failure,' Oppenheimer Fined $500,000 for Supervisory and Suitability Gaps Read More