GUY MAGARELLI Allegedly Made Unsuitable Trades

Newbridge Clients Take Aim At Guy Magarelli For Allegedly Making Unsuitable Trades

Soreide Law Group is investigating potential investor actions to recover losses caused by securities broker Gaetano “Guy” Magarelli [CRD#: 2227996, Boca Raton, Florida]. Notably, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck reports that no less than 6 clients contested the securities recommendations or sales of the securities broker, who worked for Newbridge Securities Corporation from March 23, 2010 to March 6, 2018. Apparently, clients of Newbridge Securities Corporation suggest that Magarelli breached his fiduciary responsibilities and initiated unsuitable trades. It seems like the broker caused clients' losses. The following contains a summary of some alarming disclosures concerning Magarelli:

Newbridge Securities Corporation Client Indicates That Guy Magarelli Made Unsuitable Trades

First of all, a client of Newbridge Securities Corporation took aim at Guy Magarelli by filing FINRA Arbitration #: 17-02215 on August 22, 2017. Mainly, Magarelli made inappropriate trades in this client's account from December 2010 to February 2017. It appears that the broker failed to consider the client's goals, risk tolerance or other suitability factor. Supposedly, Magarelli's inappropriate trading caused the client to sustain losses. For this reason, Newbridge Securities Corporation agreed to settle the client’s dispute on September 7, 2018 through paying the client $109,000.

Guy Magarelli Allegedly Caused Newbridge Securities Corporation Client’s Losses On Stock Trades

Secondly, on February 2, 2018, a Newbridge Securities Corporation client filed a complaint about Guy Magarelli. Namely, the client alleged that over 2 years, Magarelli sold bad stocks which caused the client substantial losses. Therefore, the client asked for $84,000 in restitution from Newbridge Securities Corporation or Magarelli. Apparently, this complaint is pending a resolution.

Newbridge Securities Corporation Client Indicates That Guy Magarelli Made Unsuitable Trades

Thirdly, a client of Newbridge Securities Corporation disputed the actions of Guy Magarelli by bringing FINRA Arbitration #: 15-03482 on January 5, 2016. Allegedly, Magarelli made unsuitable stock trades in the client’s SEP IRA account. It appears that Magarelli's trades were not consistent with the client’s investment profile. Moreover, the client indicated that Magarelli traded without consulting the client first. Seemingly, Magarelli’s penny stocks and equities trades caused the client to sustain losses. Because of this, Newbridge Securities Corporation opted to settle the client’s claim on March 18, 2016 through making a $27,500 payment to the client.

Ameriprise Financial Client Brings Dispute About Unauthorized Trading

Finally, a client of Ameriprise Financial Services Inc. filed a dispute about Guy Magarelli's actions in or around 2008. It seems that the broker traded in the client’s brokerage account without permission. Evidently, Ameriprise Financial Services paid the client to settle the matter.

Did Broker Guy Magarelli Make Bad Trades In Your Account?

Have you experienced losses by investing with securities broker Guy Magarelli? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Magarelli and his employing brokerage firms.