Last edited 9:22 a.m., Aug. 27, 2013Springfield financial adviser Nadia Cavner was sentenced Aug. 26 to five years of probation after pleading guilty earlier this year to a felony interstate stalking charge.
U.S. District Judge John Fowlkes Jr.'s judgment includes six months under home detention, according to documents filed in the U.S. District Court Western District of Tennessee.
Cavner, who is said to manage roughly $490 million in assets for some 1,100 households,
pleaded guilty April 12, acknowledging intentions to injure, harass or intimidate her college-age daughter’s ex-boyfriend.
Following the guilty plea, Cavner and her Tennessee attorney Steven Farese Sr.
indicated the consultant would fight to keep her license to sell and manage securities due to the personal - rather than financial - nature of the stalking charge.
According to securities regulations, a felony would statutorily disqualify Cavner from selling securities in the U.S. for 10 years. The Financial Industry Regulatory Authority's written rules state Cavner would have to participate in eligibility proceedings in order to retain her securities licenses. Cavner's profile on FINRA.org still listed her criminal charge as "pending" as of Aug. 27.
FINRA spokeswoman Michelle Ong said the organization would launch a review to determine whether Cavner is eligible to continue selling and managing securities. She said the process would take into consideration the nature of the crime and other mitigating circumstances. Ong was unsure how long the review might take, but she noted Cavner would have the chance to appeal the decision.
Farese said though it was outside his realm of expertise, he believes Cavner's security license will not be affected by the sentencing. He declined to provide the name of the attorney representing Cavner's securities business, referring further comment on the subject to Cavner.
Cavner, who holds series 7, 63 and 24 licenses, according to FINRA, declined to comment on the effect the sentencing would have on her business, referring to a statement issued on her behalf by public relations firm 2balance. The statement noted Cavner's business will continue as normal.
Two weeks after Cavner pleaded guilty to the felony charge, BancorpSouth disassociated with the financial adviser who had operated at the company's 2620 E. Sunshine St. branch. Days later, Cavner announced she would open The Nadia Cavner Group immediately southeast of the BancorpSouth branch. Her independent practice opened May 6.
