ATTENTION INVESTORS: Customer Claim Against Boca Raton, FL Broker BRETT ELLIS

Brett David Ellis (CRD#: 5293493, Boca Raton, Florida) is a GMS Group, LLC financial advisor or broker. The Financial Industry Regulatory Authority (“FINRA”) shows that Ellis joined The GMS Group’s Boca Raton, Florida offices on May 2, 2007. Investors should take caution if dealing with Brett Ellis because there have been two instances where customers complained about his sales practices. Specifically, take a look at the following disputes concerning allegations of Ellis’ misrepresentation of investments, among other things:

Arbitration Involving Brett Ellis, Breach Of Fiduciary Duty And Bad Recommendations

 

Apparently, a customer of The GMS Group filed FINRA Arbitration #18-02748 on August 13, 2018, naming Ellis as a respondent. Primarily, the customer claimed that Ellis misrepresented municipal debt investments the customer purchased. Secondly, Ellis allegedly violated his fiduciary responsibility to the customer through his involvement in the customer’s transactions. Thirdly, the customer claimed that Ellis made bad or unsuitable investment recommendations. Finally, Ellis or the firm allegedly acted negligently throughout the entire time that the customer’s accounts were with The GMS Group, LLC. Because of this, the customer alleged $1,000,000 in damages. The customer’s claims involving Ellis or the firm’s misrepresentation, breach of fiduciary duty, unsuitable investment recommendations and negligence may be true. However, Ellis reportedly denies involvement with the customer’s account transactions in this pending matter.

 

GMS Group Customer Claim Concerning Brett Ellis, Misrepresentation Of Municipal Debt Investments

Evidently, another GMS Group customer filed a dispute suggesting Ellis misrepresented investments. Namely, FINRA BrokerCheck shows that on April 20, 2009, a customer filed FINRA Case No. 09-02009. Apparently, the customer bought a municipal debt security through Ellis when he was the customer’s account executive. However, the customer claimed that Ellis misrepresented the investment, causing the customer to purchase it and later experience losses. As a result, The GMS Group, LLC made arrangements to pay the customer $7,900 to resolve the matter. Accordingly, the customer’s misrepresentation claim was settled May 22, 2012.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Experienced losses from The GMS Group broker Brett Ellis or another registered representative who misrepresented investments or sold you unsuitable securities? If so, contact Soreide Law Group at (888) 760-6552 and speak with our qualified counsel about a possible recovery of your losses. Soreide Law Group represents clients nationwide and only charges a fee upon recovery of losses.