Options for Clients of Former McDermott Investment Services, LLC Broker Gregory Hill
Posted on Wednesday, June 2nd, 2021 at 12:05 am
Were you the victim of former McDermott Investment Services, LLC broker Gregory Hill (CRD# 850818)? Hill has been registered with Emerson Equity LLC in San Mateo, California since 2019. Previously, Hill was registered with Colorado Financial Service Corporation in Centennial, Colorado from 2018 to 2019 and with McDermott Investment Services, LLC in Pittsburgh, Pennsylvania from 2014 to 2017.
Hill has been the subject of two customer complaints between 2019 and 2021, according to his CRD report:
January 2021. “Breach of fiduciary duty; negligence; negligent misrepresentation; misrepresentative/omission/ negligent supervision, hiring and retention; breach of contract; violation of the Wisconsin Securities Litigation Uniform Standards Act of 1998; violation of the New Hampshire uniform securities act.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint took place while Hill was registered with McDermott Investment Services, LLC and was regarding 1031 exchange.
March 2019. “Customers allege that firm and financial advisors failed to perform adequate due diligence in connection with a 1031 exchange recommendation into a Delaware statutory trust in 2015 that customers subsequently invested in.” The customer is seeking $209,306 in damages and the case is currently pending. The complaint took place while Hill was registered with McDermott Investment Services, LLC and was regarding DE Statutory Trust.
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, McDermott Investment Services, LLC may be liable for investment or other losses suffered by Hill’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.