Tag Archives: Independent Financial Group complaint

Lyle J. Boudreaux-Independent Financial Group Broker-Subject of Customer Claims For Losses on ETF’s-Houston, TX

February 2018-Houston, TX

The FINRA records of  Lyle J. Boudreaux,  a  stockbroker who is currently employed by Independent Financial Group disclose 2 pending customer disputes, one prior final customer dispute and a termination from employment.

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.

In May 2017 a customer of Independent Financial Group filed a complaint alleging that losses were suffered as a result of an ETF position in an advisory account. That matter was settled for $80,000.

The two pending customer disputes involve losses on leveraged exchange traded funds (ETFs). In one case the customer seeks damages of $210,000. In the other matter the customer seeks damages of between $100,000 and $500,000.

Boudreaux has worked for Independent Financial Group since 8/2012. Prior to that he worked for Merrill Lynch until he was discharged by Merrill Lynch for failing to update a family member/client’s account record to indicate that the client was deceased and continuing to execute transactions in the account on behalf of the estate prior to obtaining the proper paperwork.

 

If you have questions about  an account in an account handled by Lyle J. Boudreaux , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Bernard McGee, Former Cadaret Grant Broker- Barred From Securities Industry

December 19,2014- Syracuse, New York

In FINRA Disciplinary Proceeding No. 2012034389202, Bernard G. McGee was barred in all capacities from associating with any FINRA member for making unsuitable recommendations to a customer who was advised to sell 4 annuities and purchase a charitable gift annuity.

McGee denied the charges and after a hearing June 2-6, 2014, the Extended FINRA Hearing Panel ordered the bar from the industry and ordered McGee to disgorge commissions and pay restitution to the affected customer.

The customer incurred charges of over $36,000 when she surrendered about $490,000 in annuities and the surrender also created taxable income.

According to FINRA records McGee was registered with Cadaret Grant & Co. from 4/2007-10/2012. He was most recently registered with Independent Financial Group.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870