Sigma Financial Corporation
Our Investment Law Attorneys Fight for Client Rights
Sigma Financial Corporation was founded in 1983. The firm offers comprehensive
investment planning services, including estate planning and tax reduction
strategy services. Located in Ann Arbor, MI, Sigma Financial is an independent
firm and continues to reject acquisition offers in efforts to remain autonomous
and self-directed. Sigma Financial has 500+ representatives.
Because Sigma Financial is licensed with the Financial Industry Regulatory
Authority (FINRA), they are subject to certain laws and regulations to
protect investors. Chief among these laws is the obligation for Sigma
Financial to oversee their brokers, ensuring that they obey FINRA rules
in all business transactions. If an unsupervised broker causes severe
losses to a client through misconduct, deceit, or unethical trading,
Sigma Financial can be held legally responsible to repay the losses to
the investor. Meyer Wilson can help clients file successful claims.
Repeated Failure to Supervise
Sigma Financial Corporation has an unfortunate history of poor supervision
that has resulted in several fines levied against the firm and its individual
representatives. In late 2014 FINRA fined Sigma $185,000 for repeated
instances of lack of supervision, including not being notified when representatives
changed their websites, designing systems that only monitored about 10%
of their emails, and not scheduling FINRA inspections often enough. In
addition, they sold securities that were not sufficiently investigated,
putting investors at risk.
The result of such lax supervision is a culture that breeds underhanded
tactics. For example, Sigma Financial broker Joral Schmalle paid nearly
$2 million in settlements with customers from 2011 to 2013 alone for
misrepresentation and fraud selling tenancy-in-common securities. One case alone was a $1.2
million settlement. In his history, Schmalle has paid out $3 million to
Sigma clients alleging fraudulent behavior, and he still has over a dozen
cases in arbitration currently. What’s worse, Joral Schmalle is
far from alone. More Sigma brokers are currently facing customer accusations,
and many of them are being settled in six-figures or more.
Do You Have an Investor Claim? Call Today!
If you’ve been cheated by a deceitful or negligent Sigma Financial
broker, Meyer Wilson is prepared to step in on your behalf. We have the
resources to stand against large investment firms like Sigma Corp, and
our experienced investment fraud attorneys know how to best reclaim your losses.
We recovered over $350 million for our clients, and we’re not slowing down. Because our sole focus is on helping
victims of fraud, each of our lawyers is deeply knowledgeable, with sharp
insight. We conduct claims against firms in state and federal courts nationwide,
as well as in arbitration with FINRA and the American Arbitration Association.
Let us fight for you so you can reclaim what belongs to you. Contact our
Meyer Wilson today for a
free case evaluation.