Sagepoint Financial, Inc. Broker Christopher Bice Has $1 Million-Plus Customer Complaint for Unsuitable Investment Recommendations
Posted on Wednesday, October 16th, 2019 at 10:07 am
Sagepoint Financial, Inc. broker Christopher Bice (CRD# 3222439) is accused of unsuitable investment recommendations. Bice has been registered with Sagepoint Financial, Inc. in Greensboro, Mooresville, and Salisbury, North Carolina since 2005.
Bice was registered with three prior firms between 1999 and 2005 and he was terminated from employment at one brokerage firm. Bice was registered with Sunamerica Securities, Inc. in Phoenix, Arizona from 2003 to 2005, and with A. G. Edwards & Sons, Inc. St. Louis, Missouri from 2002 to 2003. Prior to that time, Bice was registered with UBS Painewebber Inc. in Weehawken, New Jersey from 1999 to 2002, when he was terminated regarding, “I directed an employee to sign clients’ names to a new account form.”
Bice has been the subject of four customer complaints between 2014 and 2018, one of which was closed without action, according to his CRD report:
November 2018. “Unsuitable investment recommendations, investment overconcentration, misrepresentation, and failure to supervise.” The customer is seeking $1 million in damages and the case is currently pending. This case is regarding a variable annuity.
February 2018. “Unsuitable investment recommendations, investment over-concentration, misrepresentative, and failure to supervise.” The customer is seeking $750,000 in damages and the case is currently pending. This case is regarding a variable annuity and real estate securities.
August 2016. “Allegation of unsuitable investment.” The customer sought $57,000 in damages and the case was settled for $10,000. This case was regarding real estate securities.
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 Bice’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.