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Customer Alleges Gale Brodie Left His Principal Unsecured

Gale Brodie

Public records published by the Financial Industry Regulatory Authority (FINRA) on May 16, 2018 indicate that California-based Founders Financial Securities Services broker/adviser Gale Brodie has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. Brodie (CRD# 1318619).

Gale Brodie has spent 33 years in the securities industry and has been registered with Founders Financial Securities in Elk Grove, California since October 2017. Previous registrations include Waddell & Reed in Sacramento, California (2013-2017); MetLife Securities in Sacramento, California (2010-2013); LPL Financial Corporation in Galt, California (2009-2010); Associated Securities Corporation in Galt, California (2008-2009); FSC Securities Corporation in Galt, California (2003-2008); Morgan Stanley DW in Purchase, New York (1998-2002); Merrill Lynch in New York, New York (1995-1998); and Dean Witter Reynolds (1984-1995). She has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which she obtained on March 17, 1993; Series 63 (Uniform Securities Agent State Law Examination), which she obtained on January 8, 1985; Series 31 (Futures Managed Funds Examination), which she obtained on December 3, 1993; and Series 7 (General Securities Representative Examination), which she obtained on December 15, 1984. She is a registered broker and investment adviser with four US states: California, Nevada, Texas, and Washington.

According to her BrokerCheck report, she has received one pending customer complaint and one denied customer complaint.

In April 2018 a customer filed a complaint against Gale Brodie, while she was employed at Waddell & Reed, alleging he believed he was investing in municipal bonds which would return his principal at maturity, but in fact his funds were invested in municipal bond funds that leave his principal unsecured and will incur losses at maturity. The customer is seeking $57,000 in damages in the pending complaint.

In 2014 a customer alleged Gale Brodie, while employed at MetLife Securities, misrepresented material facts related to variable annuity purchases and made unsuitable trades. The customer sought unspecified damages in the complaint, which was denied.

If you have lost money investing with Gale Brodie, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. 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.