Former Sagepoint Financial, Inc. Broker Grant Birkley Investment Loss Options
Posted on Monday, August 16th, 2021 at 3:14 pm
Former Sagepoint Financial, Inc. broker Grant Birkley (CRD# 2933533) was barred by FINRA and faces two customer complaints. Birkley was registered with Sagepoint Financial, Inc. in Barrington, Illinois from 2017 to 2020, when he was terminated regarding, “Registrant admitted to making referrals to an outside asset manager without approval of the BD.”
Prior to that, Birkley was registered with Wells Fargo Clearing Services, LLC in Woodstock, Illinois from 2008 to 2017.
In June 2021, FINRA barred Birkley after he “consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA during the course of its investigation of a Form U5 filed by his member firm. The findings stated that the firm filed the Form U5 stating that it discharged Birkley after he admitted making referrals to an outside asset manager without the firm’s approval.”
Birkley has been the subject of two customer complaints in 2020, according to his CRD report:
August 2020. “Inappropriate involvement in sale of unapproved product is alleged.” The customer is seeking $1,430,000 in damages and the case is currently pending. The complaint took place while Birkley was registered with Sagepoint Financial, Inc. and it was regarding a private investment fund.
August 2020. “Recommendation of inappropriate fund (not BD approved).” The customer is seeking $900,000 in damages and the case is currently pending. The complaint was regarding an outside investment fund and took place while Birkley 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 Birkley’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.