National investment loss lawyers KlaymanToskes is investigating Gary Anderson (CRD# 5922928) of Anderson Advisors following the filing of two customer complaints alleging $700k in collective damages, due to allegations including unauthorized trading, negligence, and misrepresentations. One customer complaint relates to investments in fixed annuities, while the other regards and OTC stocks.
According to the SEC’s AdviserInfo, John Gary Anderson is currently registered with Anderson Advisors, Inc. and has previously been registered as an investment advisor with the following firms, located in Gainesville, GA:
Investors that suffered losses with Gary Anderson 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, John Gary Anderson has two pending customer complaints disclosed. Anderson’s most recent complaint alleges violation of the Georgia Securities Act, negligence, and misrepresentation regarding the risks and benefits of the fixed annuity investments purchased. The customer alleges $600,000 in damages at AE Wealth Management and Global Financial Private Capital.
A second customer complaint filed against Anderson alleges unauthorized trading by engaging in the sale of 4000 shares of OTC (“over the counter”) stock. The customer alleges $100,000 in damages at Global Financial Private Capital.
Unauthorized trading occurs when a broker or financial advisor makes trades (buying or selling) in their client’s investment account without permission, authorization, or their client’s knowledge. KlaymanToskes can help you determine whether an investment loss is the result of unauthorized trading in your brokerage account.
Brokerage firms and their registered financial professionals have a duty to recommend suitable investments to their customers. The failure to consider an investor’s age, net worth, investment objectives, risk tolerance, and other important factors when making a recommendation is a basis for liability in a FINRA arbitration claim.
According to the Securities and Exchange Commission’s Regulation Best Interest Compliance Guide, the SEC created its Regulation Best Interest (“Reg BI”) standard of conduct in 2019, for broker-dealers and their registered representatives, when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer.
Reg BI requires that financial professionals act in the best interest of their customers when making investment recommendations and requires that they place their customers’ interests ahead of their own.
In order to satisfy the general requirement of Reg BI, broker-dealers and their registered financial professionals must exercise reasonable diligence, care, and skill in making an investment recommendation to a customer. Registered representatives must also establish, maintain, and enforce written policies and procedures reasonably designed to address conflicts of interest, in compliance with Regulation Best Interest.
KlaymanToskes can help you determine if your investment losses are the result of your broker/investment advisor’s failure to comply with the SEC’s Regulation Best Interest, and/or other federal and state securities laws.
Contact attorney Lawrence L. Klayman for a free consultation at (888) 997-9956 or lawrence@klaymantoskes.com to discuss your legal options at no cost. We do not collect attorney’s fees unless we 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