Articles Tagged with Sagepoint Financial

Iorio Altamirano LLP is investigating claims on behalf of defrauded investors who were victims in the GPB funds scheme. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, broker-dealer SagePoint Financial, Inc. likely received sales compensation for selling the GPB funds to retail investors.

SagePoint Financial, Inc. has faced numerous FINRA arbitration complaints from customers seeking to recover investment losses. The following SagePoint Financial, Inc. brokers may have recommended GPB Capital funds to clients:

  • Daniel Dillard; and

Iorio Altamirano LLP is investigating claims on behalf of SagePoint Financial customers who invested in Unit Investment Trusts (UITs). If you have lost money with SagePoint, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

SagePoint and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on June 10, 2020, over allegations that between January 2013 and December 2017, SagePoint violated FINRA rules. Specifically, that it:

  • Failed to establish and maintain a supervisory system, and failed to establish, maintain, and enforce written supervisory procedures (WSPs) that were reasonably designed to supervise the suitability of representatives’ recommendations to customers for early rollovers of Unit Investment Trusts (UITs).

FINRA has suspended stockbroker Troy R. Baily (CRD #4458930) for six months from the securities industry and ordered him to pay a $5,000 fine.  These sanctions arose from Mr. Baily’s solicitation of Future Income Payments, LLC.  This blog has previously written about Future Income Payments, LLC.

FINRA alleged that between February and May 2017, Troy Baily participated in private securities transactions totaling $210,000, without prior disclosure and approval from his employer at the time, Sagepoint Financial, Inc.  Specifically, FINRA alleged:

  • Between February and May 2017, Mr. Baily solicited investors to purchase $210,000 in securities of Future Income Payments, LLC.
Contact Information