Did former Sagepoint Financial, Inc. broker David Adams (CRD# 1575083) recommended unsuitable investments, including GPB Capital Holdings’ private placements? David Adams has been registered with Ameriprise Financial Services, LLC in Jacksonville, Florida since 2018. Previously, David Adams was registered with Sagepoint Financial, Inc. in Ponte Vedra Beach, Florida from 2008 to 2018.
David Adams Customer Complaints
David Adams has been the subject of three customer complaints between 2006 and 2021, one of which was closed without action, according to his CRD report:
- November 2021. “Claimant alleges that the financial professional recommended an investment that was unsuitable.” The customer is seeking $250,000 in damages and the case is currently pending. The complaint was regarding private placements and took place while David Adams was registered with Sagepoint Financial, Inc.
- April 2020. “Claimant alleges that an investment in GPB Holdings is unsuitable.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint was regarding real estate securities and took place while David Adams was registered with Sagepoint Financial, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Sagepoint Financial, Inc. may be liable for investment or other losses suffered by David Adams’ customers.
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