Securities Lawyers Blog
The securities lawyers of Gana Weinstein LLP are currently investigating customer complaints against broker John Boatright (Boatright), formerly associated with Newbridge Securities Corporation (Newbridge Securities) out of Duluth, Georgia. According to a BrokerCheck report, Boatright has been subject to at least three customer disputes and one large tax lien during his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), Boatright’s recent customer complaints concern allegations of unsuitable investment recommendations.
In May 2018 a customer alleged that Boatright made unsuitable recommendations and provided negligent investment advice. The customer requested $46,000 in damages. This dispute is still pending.
In May 2018 Boatright disclosed a $22,813 tax lien against him. Large tax liens on a broker’s CRD can be a red flag that the broker may be influenced to engage in high commission activity in order to satisfy personal debts. FINRA discloses information concerning a broker’s financial condition because a broker’s inability to handle their own personal finances has also been found to be material information in helping investors determine if they should allow the broker to handle their finances.