Sammons Securities Company, LLC is a privately-owned, independent, full-service broker-dealer. Based in Ann Arbor, MI, Sammons Securities offers financial brokerage services that include: asset management accounts, services for retired investors, money management, IRA and Roth IRA, estate preservation, portfolio analysis, etc. Established in 2002, Sammons Securities operates as a subsidiary of the Sammons Financial Group.
Licensed by the Financial Industry Regulatory Authority (FINRA), Sammons Securities Company, LLC has a legal duty to supervise its brokers. By ensuring that brokers are acting ethically in the interests of their clients, Sammons Securities can protect investors from duplicitous practices. However, if Sammons is lax in its standards and a broker causes a client to incur losses through negligence, FINRA may hold Sammons legally liable to repay the damages.
Surprising History of FINRA Activity
Despite only 13 years of operation, Sammons has been involved with 6 FINRA investigations and arbitrations, which is roughly more than one action per inspection. In 2014, FINRA fined Sammons Securities $100,000 for unsuitable supervisory measures, mostly involving BD OPS. This particular company has only 35 supervisory employees, but were expected to inspect hundreds of brokers in dozens of locations nationwide, for multiple firms. Obviously, this was not feasible. For this and other instances of poor supervision, the young firm was given a six-figure fine.
Have a Claim Against Sammons Securities Company, LLC?
Our investment fraud lawyers practice solely in the field of investment law, so we have the resources to go head-to-head with large brokerage firms on your behalf. Meyer Wilson’s sole aim is to help victims of fraud win back their losses and uphold their rights as investors. Our attorneys have reclaimed millions for our clients - $350 million. Let our firm fight for you. We practice nationwide in state and federal courts, as well as in arbitration with FINRA and the American Arbitration Association.
If you lost your investment due to the negligence of a broker at Sammons Securities Company, Meyer Wilson is ready to step in. Contact our firm for a free case consultation.