Lincoln Lucas Mason: Financial Advisor Sanctioned for Undisclosed Business Dealings Faces Customer Disputes and Termination

Lincoln Lucas Mason (CRD# 7057393) is a former financial advisor who was previously registered with Edward Jones from March 2019 to December 2021. According to records maintained by Financial Industry Regulatory Authority (FINRA) BrokerCheck, Mason has a troubling record that includes two regulatory actions, two customer disputes, and one employment termination involving allegations of misconduct.

Regulatory Disclosures

The most recent regulatory action against Mason was initiated by FINRA on January 17, 2024, and centers on allegations that he engaged in an undisclosed outside business activity while at Edward Jones. According to FINRA, Mason formed a limited liability company to purchase a commercial property intended to serve as a branch office of Edward Jones. He then induced the firm to lease the property—without disclosing his ownership interest.

FINRA found that Mason submitted false documents to conceal his involvement and failed to receive the firm’s approval, in violation of FINRA Rules 3270, 2010, and 8210.

Mason consented to the findings without admitting or denying them and agreed to an Acceptance, Waiver & Consent (AWC) resolution. He was suspended from associating with any FINRA member for 90 days, from February 5 to May 4, 2024, and fined $5,000, which has been paid in full.

A second regulatory action was issued earlier by the Iowa Insurance Division on March 20, 2018, prior to Mason’s employment with Edward Jones. This action stemmed from his conduct while working for Mason Lindhart Funeral Home, LTD. Regulators alleged that Mason failed to deposit preneed funeral funds into required irrevocable trust accounts and inaccurately reported agent sales to the state. This action also concluded with a consent order and financial penalties, including a $5,000 fine and a $950 additional penalty, both of which were paid.

Customer Disputes

Mason has also been named in two customer disputes involving alleged misconduct while he was employed by Edward Jones.

The most recent customer complaint was filed on May 18, 2023. It alleged that Mason likely forged a client’s signature on an account form and gave unsuitable advice regarding Social Security elections and investment distributions. The dispute proceeded to FINRA arbitration under docket number 24-00257 and was settled on December 13, 2024, for $80,000. According to the BrokerCheck report, Mason did not personally contribute to the settlement amount.

An earlier complaint, received by Edward Jones on December 29, 2021, alleged that Mason made unauthorized IRA liquidations. This matter was settled on July 6, 2022, with the client receiving $36,206.66 in compensation. As with the other complaint, Mason did not personally contribute to the settlement payment.

Termination from Edward Jones

On December 2, 2021, Edward Jones terminated Mason’s employment. According to the firm’s disclosure to FINRA, the termination occurred due to concerns that Mason had engaged in undisclosed outside business activities and refused to cooperate with the firm’s internal review. This termination directly preceded the regulatory action by FINRA regarding the same misconduct.

Recovering Losses from Lincoln Lucas Mason’s Misconduct

If you invested with Lincoln Lucas Mason and believe you were misled, improperly advised, or financially harmed as a result of his actions, you may be eligible to recover your losses.

The Securities and Investment Fraud attorneys at Levin Papantonio are actively investigating claims involving former Edward Jones advisor Lincoln Mason. Our legal team can assess your situation, determine whether you may have a claim, and help pursue recovery through FINRA arbitration or other legal avenues. Investors have rights—and Levin Papantonio is committed to protecting them.