Public records published by the Financial Industry Regulatory Authority (FINRA) on April 18, 2017 indicate that former New York-based Independent Financial Group broker Bernard McGee has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. McGee (CRD# 1203327).
Bernard McGee has spent 32 years in the securities industry and was most recently registered with Independent Financial Group in Cazenovia, New York (2012-2016). Previous registrations include Cadaret Grant & Company in Cazenovia, New York; New England Securities in East Syracuse, New York; and Royal Alliance Associates in New York, New York. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received two customer complaints and one regulatory sanction which is currently on appeal.
In 2016 FINRA sanctioned him following allegations he made misrepresentations and omissions to induce a customer to surrender variable annuities and invest the proceeds in a charitable gift annuity, incurring approximately $36,500 in surrender charges for her and $59,000 in fees paid to him. The sanction, which is on appeal, resulted in a bar from acting as a broker or otherwise associating with firms that sell securities to the public.
In 2012 he was “permitted to resign” from his position at Cadaret Grant & Company following allegations he failed to disclose an outside business activity in violation of firm policy.
In 2012 a customer alleged Bernard McGee, while employed at Cadaret Grant & Company, supervised a liquidation of annuities that resulted in losses. The complaint settled for more than $269,300.
In 2003 a customer alleged Bernard McGee, while employed at Royal Alliance Associates, made an unsuitable investment recommendation. The complaint settled for $7,500.
If you or someone you know has complaints regarding Bernard McGee, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.