Newbridge Securities Corporation Scam Broker Review Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Please. Peter Goffin has been in the securities industry since 1987 and previously worked at Wachovia Securities Financial Network, JW Charles Securities and Commvest Securities. July 2017 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. 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. Years in Business: 16. Business Started: 8/31/2006. NEWBRIDGE SECURITIES CORPORATION: Street Address: 1200 NORTH FEDERAL HIGHWAY: City: BOCA RATON: State: FL: Area Code: 33432: Raton, Florida. If you are considering becoming a client of Newbridge Securities or you are currently a client its important that you know about the customer complaints and regulatory actions against the firm. 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. Newbridge Securities Corp. Fraud and/or Investment Loss - Wolper 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. Orion Wealth's Antoine Shamlee Lands $224K Investor Complaint Entering text into the input field will update the search result below. The Securities Litigation & Consulting Group (SLCG) has done what regulators have repeatedly declined to do published the worst ranked brokerage firms in the securities industry. Newbridge Securities Corp. Complaints Rise Due to GWG L Bonds In all, over thirty regulatory cases have been filed against the firm. Michael Greenfield of Newbridge Securities Corporation The higher the concentration in illiquid securities, the more likely the firms clients have suffered from breach of fiduciary duty, misrepresentation or fraud. trial lawyer who has handled hundreds of securities cases during his career Total. Some brokers may offer a wide selection of trading products, whereas others may focus on one area . banks and brokerage firms in the world in securities matters. This copy is for your personal, non-commercial use only. A number of investors who bought GWG L Bonds through the brokerage Newbridge Securities are represented by . Newbridge Securities Corporation Broker Misconduct. While the industry itself may concur with the secrecy, consumer groups and some securities experts do not. 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. November 2016 Former Newbridge Securities broker Gerald Cocuzzo pleaded guilty to securities fraud for his role in an alleged $131 million market manipulation scheme. No filing fees. Newbridge Securities Corporation Hires Peter Czarnomski to Head Customer Service Group *by appointment only. The worst of these firms are truly extraordinary, McCann said. What are the Most Common Forms of Stockbroker Fraud? Have You Suffered Losses Due to Investments with Newbridge Securities Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary That being said, if we are showing up at a firm asking for information on a particular registered person and coming on site to interview that person, thats a clue theyre on a high-risk broker list.. Santander Securities LLC said the firm works hard to resolve complaints and has enhanced its compliance, risk management, legal and control functions over the past several years. 10-12-2019 - Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. July 2017 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. 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. Should I file a FINRA complaint against brokers like GABRIEL MARTIN ANTUNA? 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. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Securities Corporation, Celebrate Their 20th Anniversary Newbridge Securities Corporation celebrates its Chief Market Strategist Don Selkin Newbridge Securities Corporation Announces New Global Headquarters, Newbridge Securities Corporation Features on its Platform Don Selkin, the Creator of Fair Value numbers included in the U.S. Futures Report on CNBC for Over 35 Years, as its Chief Market Strategist, 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, Newbridge Securities Corporation Enters into 5-Year Clearing Agreement with Axos Clearing LLC. There have been several cases of registered representatives employed by Newbridge who were involved in broker misconduct and fraudulent activities. 0. The firm was ordered to pay a fine of $499,000. 0. 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. 76 percent of the customer complaints still pending against Newbridge Securities LLC came from equities, SLCG found. In December of 2014, FINRA fined Newbridge Securities $138,000 and ordered the brokerage to pay affected customers full restitution. The result of this practice was that the stock price was temporarily pumped up, allowing certain parties to manipulate the market for financial gain. Northstar Financial Services (Bermuda), Ltd. https://brokercheck.finra.org/firm/summary/104065#disclosuresSection, https://brokercheck.finra.org/individual/summary/1223556, 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, Financial Adviser Duane Pellman was Permitted to Resign from Excel Wealth Management, Financial Advisor Miche Jean Disclosed Two Month Suspension by FINRA. $20,000 after it consented to findings that it negligently permitted its One of John Demeo's 3 customers' complaints was settled in favor of investor. The firm was ordered to pay a fine of $499,000. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose. We can be reached at 800.931.8452 or by email The firm has 31 regulatory events and 4 arbitrations on its record, according to, Broker Misconduct and Customer Complaints. 0. Gerald Cocuzzo formerly with Newbridge Securities - Law Offices of They manage to continue in the industry by jumping ship from one firm to another, often leaving a trail of arbitration claims to be faced by the old firm. Bedminster Financial Group, Limited, Midtown Partners & Co., LLC, VFinance NFSG Promotes Jennifer Dorfman as CCO of its RIA Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others. *by appointment only. The firm was censured and fined $17,500. They must ensure the necessary procedures and systems to detect misconduct. If Newbridge Securities Corporation shows any . Geral Cocuzzo, who pleaded guilty to his involvement in a securities fraud in 2016 around a $131 million Ponzi scheme. His demeanor was professional and pleasant and I would not hesitate to use him in future matters. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (AAA), JAMS, and in state and federal court. 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. Brokers Background He entered the securities industry in 2015 and previously worked for Morgan Stanley. Their employing brokerage firm has a legal and regulatory Newbridge Securities Corporation (CRD #: 104065) is a brokerage and advisory firm with headquarters in Boca Raton, Florida. Newbridge Securities Corporation Review - Is it Legit? Scam Check If Finra unshackled BrokerCheck, researchers would come up with innovative ways to reach and inform unsophisticated investors about high-risk brokers and brokerage rms, McCann said in the firms white paper. Brokerage Firm Regulated by FINRA (Florida district office) MAIN ADDRESS. 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. The bonds are intended to assist in financing the purchase of the policies, but they come with a high level of risk for the investors. His past registrations include Janney Montgomery Scott (Boca Raton . When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through. Thomas John Avery has previously been reprimanded and has disclosures and/or client dispute(s) listed at FINRA BrokerCheck. The firm currently holds 52 licenses for U.S. States and Territories with over 80 office locations doing $17.5 million in revenue. BBB File Opened: 11/6/2000. 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. 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. The worst firms in the industry have concentrated their customers accounts in a tiny sliver of available investments. The issue pertained to the sale of structured products. 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 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. 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. contingency fee basis. December 2014 FINRA sanctioned the firm after allegations that it engaged in corporate bond transactions in which it failed to buy or sell the bonds at a fair price taking into consideration all applicable circumstances. Location of This Business. , and unauthorized trading, among many others. Newbridge Financial, Inc. And Wholly Owned Subsidiary, Newbridge Financial Services Group, Inc. Shows 214% Growth in Assets Under Management. Wednesday January 13, 2021 11:00 AM EST. 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. Newbridge Securities provides complete client services including Investment Banking, Wealth Management and Insurance & Account Protection. Most recently, on July 18th, 2017, Newbridge Securities was hit with a $499,000 fine by the Pennsylvania Department of Banking and Securities. At the time of filing Labine reportedly had six regulatory events, two judgement liens, one employment separation, and 23 customer complaints on his broker report.

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