The Financial Industry Regulatory Authority has suspended a former Arvest Wealth rep for 18 months and fined him $5,000 for misusing funds transferred to him due to a payroll error.
According to FINRA's order, in January 2025, Brandon Still misused $15,000 in firm funds that were erroneously paid to him as commissions, violating FINRA Rule 2010.
In January 2025, Still received a payment of $18,801.39 in his Arvest Wealth checking account, FINRA's order states.
"Still had previously earned payments that were substantially lower than the January 2025 payment, and should have received a payment of $1,885.38 in that month," according to the order.
However, Still did not contact Arvest Wealth to seek clarification regarding the erroneous payment, "and transferred $15,000 from his checking account to his personal brokerage account, also held at Arvest Wealth, and used the funds to purchase securities," the order continues.
Still acknowledged receiving the funds "only after Arvest Wealth discovered and asked about them in February 2025, after which he reimbursed the firm," FINRA said.
On March 14, 2025, Arvest Wealth filed a Form U5 disclosing that it had terminated Still's association with the firm "after discovering that he had withdrawn firm funds that the firm had mistakenly deposited into his account," the order states.
Still's BrokerCheck profile shows that he was with Arvest Wealth from June 2023 until his termination in June 2025.
The matter originated from FINRA's review of Arvest Wealth's March 2025 Form U5. FINRA Rule 2010 requires that associated persons, in the conduct of their business, "observe high standards of commercial honor and just and equitable principles of trade."
Arvest did not respond to a request for comment. Still accepted and consented to FINRA's findings without admitting or denying them.
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