Broker Cubby Bice Supposedly Recommended Bad Private Placements

Investor Alert! FINRA reports that investors have disputed the sales practices of Sagepoint Financial’s Christopher “Cubby” R. Bice (CRD#: 3222439, Greensboro, North Carolina). Apparently, Bice – who has been with Sagepoint as a securities broker and financial advisor since 2005 – might have sold unsuitable securities to investors. Let’s take a look at some of these disclosures and what you could do if you invested in bad private placements because of him.

Client Indicates Cubby Bice’s Private Placement Sale Was Not Suitable

Evidently, a Sagepoint client brought a dispute about Cubby Bice in July 2020. Mainly, the client contended that Bice sold an unsuitable private placement. It appears that the client invested in a real estate security that might not have fit with the client’s goals or risk tolerance. For this reason, the client demanded $300,000 in damages in this ongoing matter.

Bice Supposedly Recommends Unsuitable Private Placement

In a second dispute reported on Cubby Bice’s FINRA BrokerCheck report, a client took aim at Bice about private placements. Like the first client, this client alleged that Bice recommended bad private placements. It seems that the client might have lost money by investing in the real estate security. However, this matter was denied.

Client Alleges That Bice Made Misrepresentations

Evidently, a client of Sagepoint Financial took issue with Cubby Bice’s recommendations of a variable annuity too. Specifically, in a November 2018 FINRA Arbitration Claim, the client contended that Bice unreasonably concentrated the client’s assets. Also, the client claimed that Bice misrepresented information in connection with the purchase of an annuity or other investments. Finally, Sagepoint supposedly failed to supervise Bice’s actions. For this reason, the client asked for $1,000,000 in compensation. Evidently, this matter is awaiting a resolution.

Cubby Bice Supposedly Overconcentrates Client’s Account

Notably, a fourth dispute on Bice’s BrokerCheck report contains allegations of unsuitability. In addition, the client alleged misrepresentations on Cubby Bice’s part and the failure to supervise on Sagepoint Financial’s part. For this reason, the client asked for $750,000 in compensation in this pending matter.

Losses Because Of Investing Through Bice?Lars Soreide AVVO 2020 Top Lawyer

Have you experienced losses by investing with Cubby Bice? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have lost money because of bad actions by financial advisors and securities brokers. Reportedly, Bice denies allegations of his sales practice violations.