Last Updated: February 2024 (Lewiston, NY)
Gilbert Conrad Investigation Summary
Here’s what you need to know about Lewiston, New York, stockbroker Gibert Conrad:
- Name: Mr. Gilbert Russell Conrad
- Current Employer: Realta Equities (Formerly known as Coastal Equities Inc.)
- Previous Firms: Arkadios Capital, Independent Financial Group, Summit Brokerage Services, J.P. Turner & Co. , RP Capital, Cantella & Co. , Princeton Securities Corp., GKN Securities Corp.
- Note: In 2014, RCS Capital Corp. made acquisitions of J.P. Turner and Summit Brokerage Services, which were placed under the Cetera umbrella. In 2015, Cetera closed down J.P. Turner and many of the stock brokers were transferred to Summit Brokerage Services.
- Aliases: G. Russell Conrad
- Primary Location: Lewiston, New York
- CRD #2746778
- Can Gilbert Conrad be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $235,000
- Three Pending Customer Disputes Seek Total Damages of $3 Million
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Gilbert Conrad As Your Stockbroker?
Gilbert Conrad has 2 prior customer disputes that were resolved with payments to the former customers and a currently pending customer dispute.
One currently pending FINRA arbitration was filed in August 2023. The customer alleges that while Gilbert Conrad was registered with Cetera Advisors Networks, he made unsuitable recommendations to the customer in connection with investments in alternative investments, direct investments and limited partnerships. The customer is seeking damages of $1 million.
Similar allegations regarding unsuitable non publicly traded REITs were made in another FINRA filing in 10/2023. A customer of Independent Financial Group alleges $1 million in damages as a result of unsuitable recommendations to invest in non traded REITs.
Yet another case involving was filed in 10/2023 by a customer of Arkadios Capital who is also seeking damages of one to five million resulting from the recommendation to invest in alternative investments.
In one of the previously settled disputes a customer of J.P. Turner & Co. was paid $235,000 to resolve allegations that Gilbert Conrad breached his fiduciary duty when he made a recommendation to purchase an interest in a Tenant in Common investment.
See this for more information on REITs and Other Alternative Investments
Allegations of Broker Misconduct Against Gilbert Conrad
Customers of Gilbert Conrad have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Common law fraud
- Misrepresentation
- Violation of Nebraska law
- Breach of Fiduciary Duty
- Negligence
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Gilbert Conrad, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
