Tag Archives: sagepoint financial

How to Recover Losses on GPB Funds

June 2019

GPB Capital reports that their two largest funds have dropped dramatically. GPB Holdings II has dropped by more than 25% and GPB Automotive Portfolio has declined by 39%, according to the company.

A $50,000 in investment in GPB Holdings II is now worth $37,300 and $50,000 invested in GPB Automotive Portfolio is estimated to be worth just over $30,000.

GPB raised over $1.25 billion in these high risk private placements that were sold to investors in $50,000- $100,000 increments. The financial press now reports that the company earned commissions of $167 million on these sales, by charging 9.3%, a rate that is just below the industry cap on commissions.

In February 2019 the FBI made an unannounced visit to company headquarters in New York. Earlier investigations by the Massachusetts securities regulators and the Securities and Exchange Commission are widely reported.

According to the financial press, GPB Funds were sold by as many as 60 independent broker dealers, including Royal Alliance Associates, Sagepoint Financial, FSC Securities and Woodbury Financial Services.

If you have questions about an investment you made in GPB Funds,  contact us for a no charge consultation to learn about your legal options. You may be able to recover damages through FINRA arbitration.

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

Daniel Dillard- Sagepoint Financial Broker-Discloses Regulatory Event & Termination From Employment-Austin, TX

February 2019 – Austin, TX

According to publicly available records Daniel Dillard  (CRD#4289333) ,  a  stockbroker who is currently registered with Sagepoint Financial disclose a regulatory event , a termination from employment and a pending outstanding judgement.

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 9/2015,  Dillard was suspended for 3 months and fined $5,000 to resolve allegations that he reused a third party’s signature on a form submitted to his  employer LPL Financial regarding payment of commissions.

According to the public information on Dillard’s  FINRA records he has an outstanding lien to the Internal Revenue Service of $59,428.

Dillard has been employed with Sagepoint Financial since April 2013.   He was with LPL Financial from July 2004 until 4/2013, when he was discharged for submitting an altered document regarding his commission split.

If you have questions about an investment account handled by Daniel Dillard, contact us for a no charge consultation to learn about your legal options.

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

Charles Geraci -Former VSR Financial Services Broker-Subject of $1.4M Customer Suits-Woodlands, TX

October 2018-The Woodlands, Texas

According to FINRA records, Charles Geraci a former VSR FInancial Services broker who is not currently registered with any brokerage firm, discloses two pending customer disputes and 7 prior customer disputes that have been resolved .

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 currently pending FINRA Case #16-1180, a customer of VSR Financial Services alleges damages of $930,216 for negligent misrepresentation, breach of contract and unsuitable investments in equipment leasing, real estate securities, limited partnerships and other direct investments that were purchased from 11/2006-8/2009.

In currently pending FINRA case 16-2097,  a customer of VSR Financial Services alleges damages of $500,000 for unsuitable investments in private placements, limited partnerships and alternative investments including:

  • Behringer Harvard REIT I
  • Cole Credit Property Trust II
  • United Development Funding III
  • Cypress Income Fund VII
  • FS Investment Corporation
  • Odyssey Diversified Notes IX
  • Grubb & Ellis Healthcare
  • Canadian UIT

FINRA records indicate that Geraci was employed by VSR Financial Services 6/2008-1/2013 and then again 1/2014-7/2016. From 1/2013-12/2013 he was employed by Sagepoint Financial.

Geraci discloses business affiliations with C. Geraci & Company Wealth and Investment Advisor.

VSR Financial Services Problems with Alternative Investments

In July 2013, FINRA fined VSR Financial $550,000 for over concentrating   customer accounts with various  alternative investments. See this for more information.

During the past three years we have represented quite a few people seeking damages from VSR Financial Services  for losses suffered on investments made  in REITs, oil and gas partnerships, equipment leasing and other alternative investments. Follow this link for more information on our investigation into the sales practices of VSR Financial Services.

Many of these investments were purchased years ago and persons suffering damages from these investments should be aware that there are statutes of limitations and regulatory rules that may make it impossible to collect damages if claims are not brought in a timely manner. Victims who wish to pursue their claims should act now without further delay or risk losing valuable legal rights.

If you have questions about an account handled  by Charles Geraci or if you have losses in an account at VSR Financial Services, call for a no charge consultation.

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

Robert S. Graham-Former Capital Investment Group Broker-Subject of Customer Arbitration-Scottsdale, AZ

March 2019-Scottsdale, AZ

The FINRA records of  Robert S. Graham ,  a  stockbroker who is currently unregistered and who last was employed by  First Allied Securities, disclose a  regulatory event and a currently pending customer dispute.

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 8/2018 Massachusetts Securities regulators permanently barred Graham from the securities industry to resolve allegations that he engaged in unapproved outside business activities which caused harm to a Massachusetts investor.

In FINRA case #16-01743 a customer of Capital Investment Group alleges damages of $650,000 for breach of fiduciary duty, fraud and misrepresentation in connection with membership units in certain investments promoted by Graham.

Graham was registered with First Allied Securities from 6/2014-1/2015. His prior employment includes Capital Investment Group and Sagepoint Financial. Graham discloses a business affiliation with RG Capital Investment Advisory Services.

If you have questions about an account handled by Robert S. Graham, call to learn about your options.

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

Sagepoint Financial Ordered to Pay $700,000 Restitution-Failure to Supervise Guy Weber

In December 2013, Missouri securities regulators censured Sagepoint Financial and ordered the company to pay disgorgement and restitution of $700,000 to resolve claims that Sagepoint failed to reasonably supervise Guy F. Weber, a Missouri-registered agent who engaged in dishonest or unethical practices in violation of Missouri law.
FINRA records indicate that a customer filed an arbitration against Weber seeking damages of $274,477 for fraud, misrepresentation and breach of fiduciary duty. In August 2013, the matter was settled for the full amount of the requested damages.
Brokers have a duty to make suitable recommendations to investors. If you have suffered losses in your brokerage account due to the negligence of fraud of a stockbroker you may be able to recover damages through FINRA arbitration.

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