The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Virginia-based brokerage firm Cary Street Partners (CRD# 128089).
Former in Virginia in 2002, Cary Street Partners is headquartered in Richmond, Virginia and registered with 52 US states and territories. Walter Bayne is Managing Director and Chief Operations Officer; Joseph Brower is Managing Director and Chief Operations Officer; Polly Cordle is Chief Compliance Officer; Mark Gambill is Managing Director; Timothy Coates is Chief Financial Officer and Financial Operations Principal.
Cary Street Partners is not the subject of any disclosures listed on the firm’s BrokerCheck report. However, several of its current and former employees have been the subject of customer complaints.
Broker/adviser Brian Smith (CRD# 2287309), who has been registered with Cary Street Partners since 2013, is the subject of two customer complaints:
In 2009 a customer alleged Brian Smith, while employed at Riverstone Wealth Management, misrepresented material facts or provided misleading information, and recommended an unsuitable investment in a variable annuity. The complaint settled in 2011 for $150,000.
In 2008 a customer alleged Brian Smith, while employed as Chief Compliance Officer of Riverstone Wealth Management, committed theft. The customer sought $18,300 in damages in the complaint, which was withdrawn.
Cary Street Partners Managing Director Mark Gambill was sanctioned by the National Association of Securities Dealers (NASD) in 2002. The NASD’s complaint alleged Mr. Gambill, while employed at Wheat First Securities, failed to take adequate steps to ensure his firm accurately recorded payments and amounts owed to a defunct firm. He was issued a $25,000 fine and a 15-day suspension from associating with any NASD firm in a supervisory capacity.
In 2015 a customer alleged Douglas Stewart (CRD# 1478381), while employed at Cary Street Partners, inaccurately compared a recommended investment to existing holdings, consequently “creating a false expectation of positive returns.” The customer is seeking unspecified damages in the pending complaint.
If you have lost money investing with Cary Street Partners, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency, which means we only get paid if and when you collect money. You may have a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.