Raymond James was awarded $381,000 by a FINRA arbitration panel in its claim against an advisor for breach of contract.

The Columbia, S.C.-based arbitration panel this week ordered Ronald Scott Pyle to pay Raymond James $256,040 in compensatory damages, $25,604 in interest costs, $100,000 in attorney's fees and $8,250 in administrative costs.

According to FINRA's BrokerCheck records, Pyle was an advisor for five years with Raymond James, leaving the regional firm for a Texas-based, boutique broker-dealer, Prospera Financial Services, in November 2013.

Pyle was denied a counterclaim for $90,000 in unpaid wages, a personal investment of $71,000 and deferred compensation worth $80,000.

Though the arbitration panel found Pyle liable for Raymond James' claim, the firm was not awarded the full amount of $359,795. Instead, FINRA said it subtracted a portion of the award for Pyle's unpaid income and other claims for a total compensatory award to Raymond James of $256,040.

BrokerCheck records had no customer complaints against Pyle, who also had worked previously for Wachovia, Morgan Stanley and Merrill Lynch.

When Pyle joined Prospera, the company announced in a statement that he brought "over 21 years of experience to Prospera and over $100 million in AUM."

Reached by phone, Pyle deferred comments to his attorney, Charlotte, N.C.-based Mark Nebrig. Nebrig did not return calls for comment.

Raymond James spokeswoman Shereen McCall said the firm had no comment on the arbitration award. A call for comment left with Prospera was not returned.

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