Newbridge Securities Corporation claims to offer financial services tailored to its clients’ goals. The company also claims to provide investment strategies and guidance to a wide range of clients. Over the years, Newbridge Securities fraud allegations have been reported, and concerns about investment misconduct have been raised.Â
If you believe you are the victim of Newbridge Securities investment misconduct, request legal help. A lawyer who specializes in brokerage firm investment loss claims can evaluate your investment fraud case and determine if you have grounds for legal action.
What is Newbridge Securities Corporation?
Newbridge Securities Corporation is a brokerage firm with headquarters in Boca Raton, Florida and more than 80 locations across the United States.
It is a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). Newbridge Securities offers many financial services, including:
- Insurance and account protection
- Retirement and legacy planning
- Tax harvesting
- Wealth management
Newbridge Securities has paid millions of dollars in arbitration awards, fines, and settlements in several regulatory cases. You can seek compensation as part of a Newbridge Securities lawsuit by partnering with an attorney.
A financial advisor negligence lawyer can help you build a case against Newbridge Securities and secure compensation for your losses.
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Newbridge Securities Corporation Fraud Complaints and Violations
Ultimately, business and investment fraud is a serious problem that has impacted both Newbridge Securities and its clients. To date, many Newbridge Securities complaints have been submitted, and the company has received multiple violations. These complaints and violations include:
September 2024 FINRA Censure and Fine
FINRA censured Newbridge Securities and fined the company $125,000. It did so because Newbridge Securities did not implement proper anti-money laundering protocols and inadequately supervised the sale of variable rate structured products (VRSPs). FINRA also ordered Newbridge Securities to pay $43,000 in restitution to affected customers.
February 2024 Complaint Due to a Breach of Contract and Other Issues
On February 23, 2024, a complaint was filed against Michael Whitaker, a Newbridge Securities Corporation investment advisor and broker. In the complaint, a client claimed breach of contract, breach of fiduciary duty, and negligent supervision.
With this type of complaint, it can be beneficial to work with a financial advisor breach of fiduciary duty lawyer to hold a liable party accountable.Â
Multiple 2023 Complaints Against One Financial Advisor
In 2023, Newbridge Securities financial advisor Austin Dutton received complaints from clients who claimed he did not warn them about investment risks.
The complaints indicate that Dutton recommended unsuitable illiquid alternative investments, falsified records, and did not respond to FINRA’s investigation requests. FINRA barred Dutton from serving as a broker.
July 2023 Fraud Complaint FINRA Arbitration Claim Settlement
Newbridge Securities reached a $65,000 FINRA arbitration claim settlement in July 2023. The claim related to the actions of Newbridge Securities stockbroker Philip Andrew Gibson.
In a complaint, a customer alleged that Gibson violated securities laws and their fiduciary duties, was negligent, and breached a contract involving the sale of alternative investments.Â
March 2023 FINRA Sanctions for Supervisory Failures and Selling a Risky Alternative Mutual Fund
According to FINRA, Newbridge Securities Corporation did not reasonably supervise its representatives’ recommendations of an alternative mutual fund. The company sold the fund on its platform without conducting proper due diligence. As such, FINRA issued sanctions against Newbridge Securities.Â
Newbridge Securities fraud must be addressed. If you know what to look for in an investment fraud lawyer, you can find an attorney to represent you in your case against this financial services firm. From here, your attorney can guide you through the legal process.
How a Newbridge Securities Corporation Lawsuit Works
In spite of your best efforts, protecting against investment fraud can be difficult. An investment fraud attorney can help you pursue compensation from Newbridge Securities as part of a lawsuit.
To get started, they will help you submit a civil lawsuit or a FINRA arbitration claim and file a complaint with the Securities and Exchange Commission (SEC).Â
You are responsible for proving you are the victim of investment fraud and must show that you incurred losses and want to recover compensation for them. This will require you to prepare a body of evidence. Your proof can make it clear that Newbridge Securities caused you to lose money on your investments.
Throughout your litigation, your lawyer protects your legal rights. If you have concerns or questions as you move forward with your case, your attorney will address them. Your lawyer will help you make informed decisions at each stage of the legal process.Â
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$350 Million for Our Clients Nationwide.
Our Investment Fraud Lawyers will Allocate Plenty of Time and Resources Toward Your Newbridge Securities Corporation Case
You have legal options if you have lost more than $100,000 due to Newbridge Securities fraud, misrepresentation, or other investment misconduct. An investment fraud lawyer will give your case the attention it deserves.
If a lawsuit or FINRA arbitration claim is warranted, your attorney can provide the legal guidance and support you need to achieve your desired case result.Â
Meyer Wilson has helped our investment fraud case clients receive over $350 million in compensation. Trust our legal team to help you with your case against Newbridge Securities Corporation. Contact us today for more information.Â
Recovering Losses Caused by Investment Misconduct.