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Sherry Baker Investigated By FINRA Regarding Unit Investment Trusts

Sherry Baker (CRD #: 1249220), a broker registered with Benjamin F. Edwards, is under investigation by FINRA, according to her BrokerCheck record, as of May 10, 2021. Details are provided below.

On February 19, 2021, FINRA made a preliminary determination to recommend that disciplinary action be brought against Sherry Baker. The investigation alleged that Baker recommended unsuitable short-term trading recommendations in the form of unit investment trusts (UITs).

UITs are investment companies that allow investors to invest in a portfolio of stocks and bonds. They can be risky, depending on the underlying portfolio.

This is not the only disclosure on Baker’s record regarding unit investment trusts. On November 7, 2018, Sherry Baker was fired from her position at Raymond James Financial Services following allegations “relating to the nature of advisor’s UIT activity.”

Sherry Baker has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 3 National Commodity Futures Examination, the Series 7 General Securities Representative Examination, the Series 10 General Securities Sales Supervisor – General Module Examination, and the Series 9 General Securities Sales Supervisor – Options Module Examination. She is a registered broker in 16 states and a registered investment adviser in Texas and Illinois.

During her 37 years of experience, Sherry Baker has worked for the following firms:

  • Benjamin F. Edwards & Company (CRD #: 146936)
  • Raymond James Financial Services Advisors (CRD #: 149018)
  • Raymond James Financial Services (CRD #: 6694)
  • G. Edwards & Sons (CRD #: 4)
  • Rowland, Simon & Co (CRD #: 21666)
  • Rowland & Co. (CRD #: 911)

If you worked with Sherry Baker and you have questions about unit investment trusts (UITs), don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for a free case consultation