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Customer Seeks 200k from Broker, Russell Jones

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Michigan-based Sagepoint broker/adviser Russell Jones (CRD# 1383542).

Russell Jones has spent thirty years in the securities industry and has been registered with Sagepoint Financial in Troy, Michigan since 2010. Previous registrations include Summit Brokerage Services in Troy, Michigan (2009-2010); Mutual Service Corporation in Troy, Michigan (2002-2009); Vestax Securities Corporation in Hudson, Ohio (1995-2002); Equico Securities in New York, New York (1985-1995); and the Equitable Life Assurance Society of the United States (1985-1995). He is a registered broker and investment adviser in 22 US states.

shutterstock_123948847According to his BrokerCheck report, Russell Jones is the subject of nine customer complaints, one pending customer complaint, and three customer complaints that were closed or denied.

In 2015 a customer alleged Russell Jones, while employed at Sagepoint Financial, breached his fiduciary duty, breached contract, acted negligently, and made unsuitable investment recommendations. The customer is seeking $200,000 in the pending complaint.

In 2012 a customer alleged Russell Jones, while employed at Sagepoint Financial, breached contract, breached his fiduciary duty, and committed fraud. The complaint settled in 2013 for $32,000.

In 2012 a customer alleged Russell Jones, while employed at Sagepoint Financial, executed unsuitable and excessive trades, violated the Michigan Uniform Securities Act, violated the Securities Exchange Act of 1934, breached his fiduciary duty, churned the account, and misrepresented material facts. The complaint settled in 2013 for $350,975.

In 2012 a customer alleged Russell Jones, while employed at Sagepoint Financial, breached his fiduciary duty, recommended unsuitable investments, committed fraud, misrepresented material facts, and violated the Securities Exchange Act. The complaint settled in 2013 for $80,000.

In 2004 a customer alleged Russell Jones, while employed at Sagepoint Financial, breached his fiduciary duty, acted negligently, breached contract, and violated the Ohio Securities Act. The complaint settled in 2014 for $60,000.

In 2003 a customer alleged Russell Jones, while employed at Vestax Securities, recommended unsuitable transactions and exercised unauthorized discretion. The complaint settled in 2004 for $46,000.

If you have complaints regarding Russell Jones, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses.  All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.