Start by filling out the form above and we will get in . For more information on The White Law Group, visit. Should I file a FINRA complaint against brokers like Thomas John Avery? Many investors (presumably, . 0. SLCG hopes its research will spur Finra to release its data so firms such as Lipper and Morningstar can develop methodologies for rating and ranking firms based on their customer complaint track record, McCann said. Due to the firms negligence in handling some transactions, many clients did not receive the best available price on their trades, which was a clear breach of the firms fiduciary duty to its clients. Shares. FINRA Censures and Fines Newbridge Securities Corp. March 2023 Newbridge this week agreed to sanctions involving supervisory failures and sales of a risky alternative mutual fund. Davis has been the subject of eight customer complaints between 1997 and 2018, one of which . View complaint history and get your dispute resolved quickly. 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. However, most of our clients were not aware their broker was problematic before they had already signed up. FINRA further imposed a fine of $5,000 on the firms director of investment banking, and reportedly suspended him for two months for his failure to properly supervise the sale of complex securities. By virtue of the foregoing, Newbridge violated FINRA Rule 3110 and FINRA Rule 2010. What we found is the worst brokerage firms over the past 10 years which are still in business remain the worst firms, said Craig McCann, CFA, PhD, and founder of SLCG, said in the firms white paper Rating Brokerage Firms by Their Complaint Histories Rather Than by Their Brokers Histories., The findings of SLCGs exhaustive, first-of-its-kind research are explosive and come from the Financial Industry Regulatory Authoritys own BrokerCheck data from 2007-2016, which SLCG has sliced and diced to rank the Worst Brokerage Firms.. -, Monday October 21, 2019 8:00 AM EST partner with a national law firm, where he represented some of the largest The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. The firm has 31 regulatory events and 4 arbitrations on its record, according to FINRA, the self-regulator that oversees brokers and brokerage . (CRD # 104065) has been a FINRA member since 2000 and is headquartered in Boca 3:09 am investment losses. with clients. Cocuzzo is no longer with Newbridge. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high-risk alternative investments. In June of 2016, FINRA fined Newbridge Securities $115,000 and ordered the firm to pay $188,803.99 in restitution to affected customers for failing to apply sales charge waivers to client accounts. Substantial doubt and ongoing concern was expressed by Liggett & Webb, the firm that audited its accounts, about its ability to stay in business. $5,000 for the following alleged violations resulting from a FINRA examination: For Buckhead Tower, Suite 400 The complaint alleged that Cocuzzo engaged in a scheme to defraud investors and potential investors by receiving cash kickbacks to recommend and induce customers to purchase ForceField stock without disclosing those kickbacks to his customers. If you have questions about Newbridge Securities Corp., Newbridge Financial Services Group, Raymond James & Associates, and/or James Ray and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889. The claim alleges former Newbridge financial advisor Lawrence Labine (Larry Labine), unsuitably invested his client in high risk alternative investments. Therefore, Newbridge Securities Corporation may be liable for investment or other losses suffered by Jeffrey Eglow's customers. Years in Business: 16. Business Started: 8/31/2006. This was for their failure to buy or sell corporate bonds at a fair price. 0 . David Fagenson, who was hired by Newbridge after he had been fired by UBS Financial Services for violation of their trading policies, despite being under heightened supervision at the time. B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones, Wednesday January 13, 2021 11:00 AM EST *by appointment only. released by the Financial Industry Regulatory Authority (FINRA), in September registered representatives to sell two private placement offerings using We want to hear it. Major findings include: The more heavily a firms customers are concentrated in equity products, the more likely the firms misconduct involves excessive trading in client accounts. The extravagant claims should be a red flag that the broker is a scam. August 2010 FINRA censured and fined Newbridge $600,000 after allegations that it facilitated the manipulative trading of the stock of a company created as the result of a reverse merger. Monday January 25, 2021 11:00 AM EST. He has 19 disclosures on his BrokerCheck record and was barred by FINRA in 2019. With over 40 years of securities law experience, including experience working at FINRA and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions attempt to recover their investment losses. Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin For a copy of Newbridge Securities The transactions in question qualified the customers for discounts and sales charge waivers, yet Newbridge Securities failed to properly identify and apply these cost savings. at mwolper@wolperlawfirm.com. Thomas L. Bojadzijev ("Bojadzijev"), 29, resides in Orlando, Florida, and is You can fight back and get your money refunded. The firm has 31 regulatory events and 4 arbitrations on its record, according to, Broker Misconduct and Customer Complaints. Between October 25, 2016, and February 8, 2018, Newbridge reportedly failed to reasonably supervise representatives recommendations of the LJM Preservation & Growth Fund. The firm allegedly permitted control persons to sell unregistered securities through firm accounts, and the sales were not made in compliance with any applicable exemption from registration. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. This was, allegedly, for the purpose of manipulating trading in a stock that resulted from a reverse merger. 0. *by appointment only. I use this blog to bring attention to regulatory filings involving financial advisors, current events in securities and cases in the financial services industry, and to help investors understand their rights and options for financial recovery. Tirzepatide, an Eli Lilly and Co. drug approved to treat type 2 diabetes under the brand name Mounjaro, helped people with the [], Vito Glazers Perjury and Fraud Investigation 2023. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form . But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Dean Nowak at Newbridge Securities Corp. and Taylor Capital Management on alert to review carefully the activity and . For a copy of Bruce Jordans CRD, click https://brokercheck.finra.org/individual/summary/1223556. Fagenson is no longer employed by Newbridge. Life insurance and alternative investments are among the services provided by GWG Holdings, a financial services company with its headquarters in Dallas. The firm reportedly failed to adequately supervise the registered representatives who participated in the sales of unregistered securities, according to FINRA. When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Please. Depending on the amount of experience people have with brokers, it may be easy to tell what is legitimate and off-base before the problem starts. LUDWIG INVESTMENTS, INC., NEWBRIDGE SECURITIES CORPORATION, NEWBRIDGE SECURITIES CORP. CRD#: 104065 /SEC#: 8-52538. Please do not hesitate to call us today at 844-689-5754 to request a free review of your case. According to publicly available records 1200 N Federal Hwy #400, Boca Raton, FL 33432. represents investors nationwide in securities litigation and arbitration on a The result of this practice was that the stock price was temporarily pumped up, allowing certain parties to manipulate the market for financial gain. September 2019 The Financial Industry Regulatory Authority Inc. reportedly censured Newbridge Securities and fined the firm $225,000 for having failed to adequately supervise the sale of complex securities such as structured notes and leveraged, inverse and inverse-leveraged exchange-traded funds. Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation. From our primary office in South Florida, we protect investors nationwide. While "only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad . The State of Pennsylvania sanctioned Newbridge Securities after allegations that it failed to reasonably supervise a registered representative in connection with the sales of structured products in the state. Contact us now for a free consultation! We have over 50 years of experience and a 95% success rate. Newbridge Securities Corporation financial advisor Dana Davis (CRD# 1707708) is accused of unsuitable investment recommendations and excessive trading. You can reach us by phone at 844-689-5754 or via e-mail. Thomas John Avery has previously been reprimanded and has disclosures and/or client dispute(s) listed at FINRA BrokerCheck. Newbridge Securities Corp., a mid-sized broker-dealer based in Boca Raton, FL with 35 regulatory event disclosures, has "a history of compliance problems," according to an article in Investment News. In 2010 the complaint reached a settlement of $850,000. Wednesday January 13, 2021 11:00 AM EST. 3399 Peachtree Rd. Founded in 2000 and headquartered in Boca Raton, Florida, Newbridge Securities is a full-service brokerage firm. A Scottsdale financial advisor with a questionable history is the subject of a lawsuit alleging he breached his fiduciary duty when he made (312) 238-9650 | Fax (312) 238-8950 | (888) 637-5510 | 125 S. Wacker Drive, Suite 300, Chicago, Illinois 60606The information you obtain at this site is not, nor is it intended to be, legal advice. Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints. This copy is for your personal, non-commercial use only. The firm was reportedly ranked number two on the list of the worst ranked brokerage firms in the securities industry from 2007-2016, according to a report by the Securities Litigation & Consulting Group (SLCG). This rating has been stable over the past 12 months. 1200 NORTH FEDERAL HIGHWAY, BOCA RATON, FL, 33432, Visit https://brokercheck.finra.org/firm/summary/104065 to read a detailed report for NEWBRIDGE SECURITIES CORPORATION, Were not sure. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois. The securities lawyers at Haselkorn & Thibaut have been investigating Newbridge Securities and the various allegations of unsuitable recommendations leveled against it such as for investments in GPB Capital Holdings, Hospitality Investors Trust REIT, and L Bonds of GWG Holdings, that have resulted in significant losses to investors. 1787 Views 0. . against Newbridge on behalf of a Glendale, Arizona resident, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. Bruce H. Jordan (CRD # 1223556) has served as Newbridge's Director of Investment . November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. Newbridge Core Values SLCG also correlated the products brokers are selling to the types of customer abuses and complaints their firm received, including breach of fiduciary duty, misrepresentation, fraud, churning and unauthorized data. securities business and employs approximately 175 registered representatives at March 2017 - FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and . since 1983 and previously worked at a number of brokerage firms, including Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. Contact our office today to discuss your case. Newbridge Securities Corporation The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Kerri Jamison (Jamison), currently employed by Newbridge Securities Corporation (Newbridge Securities) has been subject to at least four customer complaints during the course of her career. The recent complaints/lawsuits against Newbridge are the result of GWG Holdings L Bonds, GPB Capital, and other non-traded investments. If you have traded with Newbridge Securities Corporation and believe you have been scammed by them you have a chance to get your money back. We can be reached at 800.931.8452 or by email According to FINRA, the firm failed to get investors a fair market price on certain trades. 9. Newbridge was censured and issued a fine of $138,000. To the extent any of these Pick all the topics you are interested in to fill your homepage with stories you'll love. FINRA sanctioned Newbridge Securities after allegations it failed to report 9,398 reportable order events to the order audit trail system on 147 separate business days, and additionally that the firm transmitted 1,017 reports with inaccurate, incomplete, or improperly formatted information. -, 11-04-2019 - Newbridge Securities Corporation Recruits New York City Based Asset Management Group and Winter Park, Florida Group Advising in Excess of $400 Million in Client Assets, 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC, 2023 Newbridge Securities All Rights Reserved. No lawyers. Newbridge Securities Corporation (CRD#: 104065) is a registered broker-dealer headquartered in Boca Raton, Florida. Shares. What current and prospective clients should know about complaints and regulatory actions against Newbridge Securities. Newbridge allegedly allowed the sale of LJM on its platform without conducting reasonable due diligence and without a sufficient understanding of its risks and features, including the fact that the fund pursued a risky strategy that relied on purchasing uncovered options. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. August 2019 The White Law Group filed a FINRA lawsuit against Newbridge on behalf of a Glendale, Arizona resident, requesting damages for alleged violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. Owners of GWG L Bonds, an alternative investment offered to regular investors across the nation by a network of brokerage firms, will find this announcement to be painful news. In December of 2014, FINRA fined Newbridge Securities $138,000 and ordered the brokerage to pay affected customers full restitution. While only 2.6 percent of the brokers at firms with more than 200 brokers have customer complaints, Aegis Capital (24.49 percent) and Newbridge Securities Corp. (24.27 percent) employ bad brokers (with complaints) at nearly 10 times that rate (see Table 1 below), McCann said. , and unauthorized trading, among many others. Newbridge was censured and issued a fine of $138,000. Bedminster Financial Group, Limited, Midtown Partners & Co., LLC, VFinance Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION View Complaints, Disclosures, Scams and Audit Report (Updated 2023). You may suffer significant losses at the hands of your financial advisors misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The bonds were sold with varied maturity terms ranging from 2 years to 7 years, with interest rates ranging from 5.50 percent to 8.50 percent, according to a prospectus released by GWG for the issuance of $2 billion in L Bonds. Six of Michael Greenfield's 8 customer complaints were settled in favor of investors. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary Newbridge Securities Corp., a mid-sized broker-dealer based in Boca Raton, FL with 33 regulatory event disclosures, has a history of compliance problems. "The vast majority of complaints referenced in this study are related to Puerto Rico, which has experienced an historic economic downturn," a company statement said. Matt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Newbridge Securities Corp Financial Advisor, Kerri Jamison, faces a series of complaints from customers who accused her of making unsuitable investment recommendations.Jamison has been in the securities industry since 2001, having worked at Dewaay Financial Network before joining Newbridge Securities.. Jamison is among several brokers at Newbridge Securities Corp that have been flagged for . All broker-dealers have a responsibility to adequately supervise its employees. According to publicly available records released by the Financial Industry . Business Incorporated: Newbridge Securities Corp. ("Newbridge" or "Respondent"), pursuant to Rule 240(a) of . 0. SLCGs ratings reveal that firms it ranked as: The worst brokerage firms over the past 10 years that are still in business remain among the worst firms. Newbridge Securities Corporation (CRD#: 104065) is a registered broker-dealer headquartered in Boca Raton, Florida. The firm was censured and fined $17,500. For example, in 2014, Daniel Pikula (CRD#: 2563165), a Newbridge Securities broker based in an office in West Palm Beach, Florida, was suspended and fined for engaging in unauthorized trading. The White Law Group is a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. What are the Most Common Forms of Stockbroker Fraud? Corporations CRD, click https://brokercheck.finra.org/firm/summary/104065#disclosuresSection. involving a wide range of products, strategies and securities. Registered broker-dealers are legally responsible for the actions of their investment advisors. Against a revenue of $33 million in 2018, the firm had been able to net a profit of only $108 million. The worst firms are more than five times as likely to have customer complaints over illiquid investments (30 percent) as all firms (1.16 percent), despite illiquid securities such as variable and indexed annuities, non-traded REITs, oil and gas products, equipment leasing, direct participation products (DPP) and other private placements. The office of Governor Lujan Grisham stated that she signed the bill on Wednesday and appreciated the Legislatures action during the recent special session on redistricting [], A jury awards $26 million in a negligence case, a Nebraska record, A Douglas County jury has awarded $26.1 million to a family from Sarpy County who sued Childrens Hospital and Medical Center in Omaha after their child was sent home after an accidental fall and then suffered seizures that left her permanently disabled; however, this amount could be drastically reduced due to a state cap on [], Utah judge to rule on state abortion clinic moratorium next week, The Planned Parenthood Association of Utah argued in court on Friday that a ban on abortion clinics would functionally eliminate abortion access if implemented as scheduled next week. Newbridge investors that are concerned about their investment losses can call 1-888-614-9356 for a free consultation on investment loss recovery options from one our experienced investment attorneys. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) Posted on April 1, 2023 April 1, 2023 Less than 0 min read Saving Bookmark this article Bookmarked. The case pertained to the sale of complex securities, involving structured notes and inverse-leveraged and leveraged exchange-traded funds (ETFs). November 2017 Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor, Austin Dutton, did not properly warn them of the risks involved with the recommended investments. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Thomas John Avery at NEWBRIDGE SECURITIES CORPORATION - View Complaints, Disclosures, Scams and Audit Report (Updated 2023) April 1, 2023. outinthewind; 19 seconds ago; 0. There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. The firm was ordered to pay a fine of $499,000. The firm reportedly failed to adequately supervise the registered representatives who participated in the sales of unregistered securities, according to FINRA. Contact me online or call anytime at 844-689-5754, What current and prospective clients should know about complaints and regulatory actions against Newbridge Securities. The South Carolina Senate has once again rejected a near-total abortion ban, South Carolina senators voted down a bill that would have prohibited nearly all abortions in a conservative state that has increasingly treated patients in an area where Republican politicians have traditionally restricted access. Call us now for a free consultation at. In this article you will find a running list of links to news stories about Newbridge Securities customer complaints and regulatory actions. The problem is by not disclosing the bigger picture to investors, or allowing anyone in the industry to do the analysis, Finra is protecting not only firms but predators and I think someone ought to call them out on it, a securities analyst who asked to remain anonymous told Financial Advisor magazine. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. investments that are appropriate for their clients Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or A group of control persons and promoters reportedly used accounts at the firm to execute pre-arranged in-house agency cross and wash transactions that were intended to generate volume and support or increase the price of the stock. Between October 25, 2016, and February 8, 2018, Newbridge reportedly failed to reasonably supervise representatives recommendations of the, Newbridge representatives sold approximately $323,000 in LJM to customers. 0. June 2016 Newbridge agreed to be censured and fined $115,000 after allegations that it failed to apply sales charge discounts to certain investors eligible investments in unit investment trust products (UITs).

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