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FINRA Suspends Broker for Impersonating Clients During Account Transfers

Posted on August 11th, 2025 at 11:51 AM
FINRA Suspends Broker for Impersonating Clients During Account Transfers

From the desk of Jim Eccleston at Ä¢¹½´«Ã½ 

Chad M. Rogers, a former broker with Independent Financial Partners (IFP) in Oklahoma City, received a 45-day suspension and a $5,000 fine from FINRA after impersonating clients during phone calls to facilitate account transfers. According to FINRA’s Acceptance, Waiver and Consent (AWC), Rogers posed as 14 different customers on 22 calls between August 2022 and June 2023 without their authorization to do so.

AdvisorHub reports that Rogers joined IFP in June 2022 and allegedly impersonated clients while helping them transition accounts to IFP or transfer funds to their bank accounts. While each customer had authorized the underlying transactions, none had consented to Rogers acting on their behalf over the phone.

In September 2023, IFP terminated Rogers for using personal client information to impersonate individuals by phone. According to AdvisorHub, the Oklahoma Department of Securities issued a 90-day suspension and $5,000 fine in February 2024.

In a BrokerCheck disclosure, Rogers acknowledged his conduct violated both firm policies and state regulations, stating that while he intended to assist clients, the manner of execution was improper. He emphasized that no customer suffered financial harm or disadvantage.

 

Ä¢¹½´«Ã½ LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra

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