Losses Caused by SagePoint Financial, Inc. Misconduct
| November 19, 2019
Did you invest with SagePoint or its registered brokers?
SagePoint Financial, Inc. is one of the largest networks of independent broker dealers in the nation. It has been in operation for more than 40 years. SagePoint has about 1,720 advisors throughout the United States, 600 of them of which are stationed at SagePoint’s home office in Phoenix, Arizona.
The company offers a wide range of investments in the following categories:
- Mutual Funds
- Variable Annuities
- Alternative Investments
Because of the open structure at SagePoint, advisors have the freedom to work from home. SagePoint clears through firms such as Pershing, LLC and National Financial Services. Although SagePoint advisors are more independently structured than other stockbrokers and investment advisors, they are still held to the same standards.
If you entrusted your money to a SagePoint broker/advisor and you lost a substantial amount of money, you may have a claim. Call Meyer Wilson today.
SagePoint Advisor Misconduct
SagePoint has a checkered history – 20 disciplinary actions are listed on FINRA’s website from the years 2010-2014. The most recent disciplinary action was filed on August 26, 2014. Craig Shiver Smith was associated with SagePoint financial from 11/2009 until 8/2013 when he was fired. FINRA filed actions against Smith stating that he engaged in unauthorized trading in violation of FINRA Rule 2010.
Another recent example is from June 9, 2014 when FINRA’s enforcement department filed a notice to Steven Allan Snapp. Snapp had been a registered broker since 1983 and was registered with SagePoint as well as two other firms. FINRA accused Snapp of borrowing from a customer, misrepresentation, and failure to report, all violations of securities regulations.
Recover Your Losses With a Securities Litigation Attorney
Did you invest your money with SagePoint Financial Inc. or one of its registered advisors? If you did and you lost a substantial amount of money, contact an investment loss lawyer at Meyer Wilson. We handle cases throughout the nation for investors who have lost money through stockbroker fraud and misconduct. We can handle litigated cases as well as arbitrated cases. Contact us today to discuss your case.