Sulphur Springs, Texas is a town in Northeast Texas and serves as the county seat of Hopkins County, TX. Originally settled in the early 1850’s, the roller coaster ride of growth and decline exhibited by the City and its residents are prime examples of the “Texas Spirit” aka “We Ain’t Done Yet”.
Beginning in 1854 Sulphur Springs’s story begins with having to accept an “alias” for a name as Sulphur Springs was already in use. Bright Star was the name registered with the post office and the first postal deliveries to residents were made by Pony Express. It was not until 1871 that the name Bright Star was removed from the postal directory and the town’s name officially became Sulphur Springs.
One somewhat unique factor in the city’s early history is that it was the newspaper capital of East Texas. Over a period of several decades 8 separate newspapers were started, failed or merged. The last two survivors, the “Sulphur Springs News-Telegram” and the “Hopkins County Echo” are still operating today.
The First National Bank of Sulphur Springs was chartered in 1857 and still exists today as City National Bank.
Antebellum growth began with a new railroad line in 1872. Word of mouth had spread stories about the healing powers of the spring’s water. Major population growth gradually impinged on the springs and ultimately left none of them active today.
Demand for transportation supported a further expansion of railroad trackage to link the city to Ft. Worth, TX in 1891. The city’s courthouse that was built in 1895 is still in use today.
The dairy industry was a major part of the economy from the 1940’s through 1995. It began to shrink due to declining milk prices, higher labor costs and factory-like dairies run by large corporations.
But Sulphur Springs wasn’t done yet.
With excellent highway and railroad access, factory and wholesale consumer goods production began to fill the economic voids. Today there are grocery supply and Walmart warehouses, food processors and the production facility for one of America’s largest builders of manufactured housing.
Economic stability brings the accumulation of modest wealth and assets for many residents. Unfortunately, it also brings bad actors who, through their misdeeds, can wrongfully take advantage of people who have trusted them.
One area of investing that seems to attract a lot of bad behavior by brokers or the issuers themselves are Oil and Gas deals. The false promises and omitted facts in this area loom large over many failed investments. Even the most experienced and successful investors can be deceived by the overpromised and underdelivered results after those investors believed what they were told, placing significant investment dollars only to see nothing in return. But once again there are potential remedies under the Texas Securities Act. The Act establishes that these deals are considered securities and are subject to the same standards of registration, prohibition of fraud, suitability requirements, and fair dealing as any stock or bond registered for sale in Texas.
Have you lost more money in the stock market than you think you should have? If you are one of the 16,000 people living in Sulphur Springs, Texas or the additional 20,000 people living in Hopkins County and your investments lost much more than you expected you could be a victim of stockbroker fraud.
Many people just like you have no idea they have been defrauded. They are told and believe “that’s just how the market works.” In reality, you may have been misled by false statements or omissions, unauthorized trading, mutual fund fraud, selling away, over–concentration, PONZI schemes, failure to follow directions or other type of fraud. On our FAQ page, firm founder Bryan T. Forman explains the many different types of stockbroker and securities fraud and shows you what to look out for.
According to the FINRA/SEC registration website there are 11 stockbrokerage and investment advisory firms with offices in Sulphur Springs, TX. They are:
National Firms:
Raymond James Financial Services 100 West Jefferson St. Sulphur Springs, TX.
Edward Jones & Co. L.P. 100 West Jefferson St. Sulphur Springs, TX
Regional Firms:
BFC Planning, Inc. 120 E. Jefferson St. Sulphur Springs, TX
Avantax Advisory Services
Avantax Investment Services 101 Bill Bradford Rd. Suite 25, Sulphur Springs, TX
State Farm Investment Management Corp. 1030 Gilmer Street, Sulphur Springs, TX
Prospera Financial Services, Inc. 1404 So. Broadway St. Sulphur Springs, TX
Independent Financial Group, LLC. 201 Azalea Ct. Sulphur Springs, TX
Northwestern Mutual Investment Services, LLC 323 Gilmer ST. Sulphur Springs, TX
Farmers Financial Solutions, LLC. 400 Gilmer St. Ste A, Sulphur Springs, TX
Small (Boutique) Firms:
360 Degree Panoramic Wealthview
ESI Financial Advisors
1521 Brandy Circle, Sulphur Springs, TX.
Berthel Fisher & Company 120 Jefferson St. Sulphur Springs, TX
The Forman Law Firm, P.C.’s East Texas office is a short trip away from Sulphur Springs in nearby Tyler, Texas, about 60 miles away. The Forman Law Firm, P.C. concentrates our efforts in securities arbitration, mediation, and litigation and seeks to recover lost investments for those victimized by broker misconduct. The firm also assists brokers and advisors in regulatory and enforcement proceedings and employment matters.
Most investment fraud cases against stockbrokers are governed by mandatory arbitration provisions. Securities arbitration before FINRA is the most common way that disputes between customers and financial institutions are resolved. The arbitration rules of FINRA are unique, but the nuances of the FINRA arbitration practice are, perhaps, even more important to know. However, when there is no valid and binding arbitration provision between the customer and the firm, the customer’s claims may be pursued in state or federal court. With the increasing transition from brokerage accounts to investment adviser relationships, many clients of investment advisers are subject to different arbitration provisions which rarely allow for arbitration before FINRA, and a client of a registered investment adviser should seek advice regarding the dispute resolution provisions in their particular agreement. In either forum, clients require an attorney experienced in the complex and sometimes arcane world of securities regulation that can also effectively communicate to the arbitrators or the jurors the essence of the case, from the filing of the claim all the way to the hearing before the panel of arbitrators or the jury. Clients should hire an attorney that spends the majority of their time in these types of cases. The Forman Law Firm is not a general practice firm that tells clients it can handle every legal problem. The Forman Law Firm is FOCUSED on securities fraud and legal issues in the securities industry. Forman Law Firm, P.C. has the needed experience.
The Forman Law Firm, P.C. founder, Bryan T. Forman, spent the majority of his early career in the brokerage industry, serving as Chief Executive Officer and General Counsel for several brokerage firms which he founded. Mr. Forman was born and raised in Tyler and is a member of the State Bar of Texas. Bryan has been inducted into the Million Dollar Advocates Forum. He had also been honored to be named as a Super Lawyer for 2023 and is a member of the Texas Bar Foundation.
The firm’s East Texas office is located at 609 S. Fannin Avenue in Tyler and Mr. Forman and his staff are available in Tyler by appointment only. Forman Law Firm, P.C.’s home office is now located at 248 Addie Roy Road, Building B Suite 302, Austin TX 78746. To reach our Tyler office from Sulphur Springs come down TX-154 to TX-31 to US-69 S (street signs may read S. Broadway Ave.). Then take a left on E Houston St. and a right on S. Fannin. Our office will be on your right.
If you suspect that you have lost money through brokerage fraud, misconduct, or mismanagement, and you are not sure what your rights are or what to do next, please contact the Forman Law Firm, P.C. today for a confidential Free Case Evaluation.
To schedule your free evaluation, simply call (866) 597–2221, email info@formanlawfirm.com, or fill out and submit our online “Contact Us” form.