Newbridge Securities. Newbridge Securities Corp., a mid-sized broker-dealer based in Boca Raton, FL with 33 regulatory event disclosures, has a history of compliance problems. Newbridge Securities Corp. is owned by Newbridge Financial Inc. and Jerry Weigle, and it is the parent company of Ludwig Investments, Inc., Newbridge Securities Corp., and Newbridge Securities Corporation. Brokers who have lost money after working with Newbridge Securities Corporation should keep reading . Firm Does What Finra Won't: Rates 30 Worst Brokerage Firms Newbridge Securities Supervisory failures invited a fine of $225K from FINRA. registered representatives to sell two private placement offerings using Customers have alleged that the true risks of the bonds were not represented and not suitable. Member FINRA/SIPC, Steven Perlstein Joins Newbridge Financial, Inc. as its Vice President of Business Development for Digital Products and Services, Newbridge Securities Corporation Hires Sonni Johnson to Head its Business Development/National Recruiting Initiatives, NFSG Promotes Jennifer Dorfman as CCO of its RIA, Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group, Newbridge Securities Corporation Recruits Chad Champion, Managing Director, Head of Equity Capital Markets, B. Riley Financial Announces Offering of $100 Million Senior Notes Due 2028 and "BBB+" Rating from Egan-Jones. 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. This refers to anything that is regularly traded. 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. Substantial doubt and ongoing concern was expressed by Liggett & Webb, the firm that audited its accounts, about its ability to stay in business. Newbridge Securities is alleged to have transmitted more than a thousand incomplete or inadequately formatted or inaccurate reports. Without admitting to or denying the allegations, Newbridge Securities consented to sanctions, including a $600,000 fine. Newbridge Securities Customer Complaints & Regulatory Actions It also incorrectly reported more than 9,300 auditable events over 147 different business days. -, Monday January 25, 2021 11:00 AM EST -, Monday November 4, 2019 8:00 AM EST Please disable your ad-blocker and refresh. Have You Suffered Losses Due to Investments with Newbridge Securities By virtue of the foregoing, Newbridge violated FINRA Rule 3110 and FINRA Rule 2010. 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. GWG L Bonds, as a whole, are a relatively new financial instrument that claims to provide better yields than standard publicly-traded fixed-income bonds. For a copy of Newbridge Securities The claim alleges former Newbridge financial advisor. -, Wednesday February 26, 2020 8:00 AM EST and enforce supervisory systems and written supervisory procedures related to 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. FINRA investigators determined that this broker exercised discretionary trading authority on a customers account, despite that fact that he did not have the written authorization to do so. Numerous customer complaints, including those involving three retired Philadelphia police officers and a firefighter, were reportedly filed against Newbridge alleging that their financial advisor. 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. 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. 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. For more information about The White Law Group call our Chicago office at 312-238-9650 or visit us on the web at http://www.whitesecuritieslaw.com. Your email address will not be published. Don't give up. The extravagant claims should be a red flag that the broker is a scam. He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. investment losses. You can reach us by phone at 844-689-5754 or via e-mail. One of John Demeo's 3 customers' complaints was denied and the customers did not take any further action. Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. Buckhead Tower, Suite 400 Newbridge Securities Financial Advisor, Peter Goffin, Has Nine Customer Complaints Newbridge Securities Corporation Financial Advisor, Michael Greenfield, Has Six Customer Complaints Newbridge Securities Broker, David Fagenson, Has Twelve Customer Complaints Reported On His Disclosure Report Newbridge Financial Advisor, Dana Davis, Has Eight Customer Complaints, Including Two Pending Complaints Wolper Law Firm Is Investigating Claims Against Financial Advisor, Xavier Patino Newbridge Securities Corp. Financial Advisor, Dana Davis, Has 7 Customer Complaints, Including One Pending Complaint Alleging Fraud And Breach Of Fiduciary Duty Can I Sue Newbridge Securities Corporation Or Salomon Whitney Financial To Recover Investment Losses Caused By Dennis Hayes. October 24, 2017 Written by The White Law Group March 28, 2023 View complaint history and get your dispute resolved quickly. Please do not hesitate to call us today at 844-689-5754 to request a free review of your case. Please research Thomas Averys disclosures, allegations and complaints before taking a decision, Originally reported on November 15, 2022 @ 11:41 pm. 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. This was, allegedly, for the purpose of manipulating trading in a stock that resulted from a reverse merger. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary 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. B . 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. 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. What current and prospective clients should know about complaints and regulatory actions against Newbridge Securities. You should consult an attorney for individual advice regarding your own situation. Newbridge Securities is currently licensed to operate in all 50 U.S. states as well as in Washington DC, Puerto Rico and the Virgin Islands. "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. NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: Update 2022.11.15If you have suffered investment losses that may have been caused by Thomas John Averys negligence or fraud, contact a FINRA lawyer today.
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