National investment loss lawyers KlaymanToskes reports investment advisor Douglas Bauerband (CRD# 2850269) has been terminated by Gradient Securities for alleged firm policy violations involving unapproved outside business activities. Bauerband is also facing a pending customer complaint which alleges an undisclosed withdrawal penalty associated with a variable annuity investment.
Investors that suffered losses with Douglas J. Bauerband may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman for a free consultation at (888) 997-9956 or lawrence@klaymantoskes.com to discuss your recovery options. We do not collect attorney’s fees unless we obtain a financial recovery for you.
According to the SEC’s AdviserInfo, Douglas J. Bauerband was terminated from Gradient Securities on July 17, 2023 due to allegations that he violated the firm’s policies and procedures relating to undisclosed outside business activities.
Douglas Bauerband is currently registered with G. Douglas Wealth Management in Toms River, NJ and has previously been registered as an investment advisor with the following firms:
Bauerband is also currently facing a customer complaint which alleges $16,000 in damages. The customer alleges that an early withdrawal penalty associated with their variable annuity contract was never discussed or disclosed.
In accordance with FINRA Rule 3270, all financial professionals are required to report and receive approval from their brokerage firm before engaging in any business activity outside of his/her relationship with the firm.
Brokers/financial advisors and their firms have a fiduciary duty to recommend suitable investments that are in their customers’ best interests. Brokers/advisors must consider an investment’s risk, ensure that they do not misrepresent material facts, and/or overconcentrate the customer’s portfolio in unsuitable investments.
Investors that suffered losses with Douglas Bauerband at G. Douglas Wealth, Gradient Securities, and/or TFS Advisory Services, may have recovery options. Contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or lawrence@klaymantoskes.com for a free consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com