Dean Thomas Nicholson of Summerfield Florida a stockbroker formerly registered with SagePoint Financial Inc. is referenced in a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages founded on allegations that (1) SagePoint Financial failed to supervise the transactions placed in the customer’s account (2) the customer’s investment related contract had been breached (3) fiduciary duties were violated (4) the customer’s account had been negligently serviced (5) misrepresentations were made concerning investments and (6) the customer was placed in ETF and real estate security products that failed to be suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02760 (June 11, 2018).

FINRA Public Disclosure confirms that Nicholson has been identified in four customer initiated investment related disputes containing accusations of his misconduct while employed with SagePoint Financial. In particular, on March 1, 2016, a customer filed an investment related written complaint concerning Nicholson’s activities in which the customer requested $35,000.00 in damages based upon allegations that omissions had been made to the customer concerning the terms of a variable annuity investment; the customer’s investment account had been traded on an excessive basis; and misrepresentations had been made concerning the risks of real estate security, mutual fund and equity products held in the customer’s brokerage account.

On July 19, 2016, another customer filed an investment related written complaint regarding Nicholson’s conduct where the customer sought damages estimated to exceed $5,000.00 founded on allegations that the customer’s investments were liquidated without the customer’s permission. Thereafter, a customer initiated investment related arbitration claim was settled for $18,000.00 in damages supported by accusations that the real estate security, mutual fund, equity and annuity products sold to the customer failed to conform to the customer’s objectives for investing or tolerance for risk. FINRA Arbitration No. 16-01771 (Aug. 31, 2016).

Nicholson has also been sanctioned by a securities regulator for his misconduct. In particular, Nicholson was subject of a Cease and Desist Order and fined $18,000.00 by Florida Office of Financial Regulation based upon accusations that Nicholson engaged in prohibited and restricted business activities in violation of Florida Statutes during the time that he was associated with Ameriprise Financial Services Inc. Case No. 0618-S-7/12 (July 25, 2012).

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website