James MacKellar Barred, Involved In SagePoint Investor Dispute

Financial Industry Regulatory Authority (FINRA) barred securities broker James Harry MacKellar [CRD: 803007, Newbury Park, California], according to disclosures on BrokerCheck. Not only that, but an investor complained about his sales practices. Evidently, James MacKellar worked for SagePoint Financial Inc. from October 31, 2008, to June 7, 2023. Keep reading to learn more about James MacKellar’s disclosures.

FINRA Barred MacKellar For Refusing To Cooperate In Investigation

Specifically, on May 1, 2024, FINRA issued Case: 2023078203401 sanctioning James MacKellar. Specifically, MacKellar was barred by FINRA in all capacities. Notably, the regulator alleged that MacKellar refused to provide information or documents during an investigation of a complaint. He violated FINRA Rules 8210 and 2010.

FINRA’s investigation originated from a complaint submitted to FINRA on March 16, 2023, concerning MacKellar’s alleged outside business activities involving a client’s estate and his beneficial interest in that client’s accounts. On June 2, 2023, MacKellar was permitted to resign from SagePoint. On June 7, 2023, SagePoint filed a Form U5 stating that MacKellar engaged in outside business activities.

On April 10, 2024, in connection with FINRA’s investigation of the aforementioned complaint, FINRA sent a request to MacKellar for the production of information or documents. MacKellar acknowledged that he received FINRA’s request. However, he stated that he would not produce the information or documents.

SagePoint Financial Inc. Investor Accused James MacKellar Of Unsuitable Advice

Particularly, on August 22, 2022, a SagePoint Financial Inc. client filed a complaint about James MacKellar. Mainly, the client alleged that Mackellar gave improper advice. Supposedly, a spouse was improperly the executor and a beneficiary of the client’s trust and estate. For this reason, the client requested compensation from SagePoint Financial Inc. or Mackellar.

Did You Sustain Losses Because Of MacKellar?

Suffer losses because of James MacKellar? You could reach out to Soreide Law Group online or at (888) 760-6552 and speak to a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group has obtained recoveries for many investors throughout the United States, works on a contingency fee basis, and advances all costs. Mackellar and brokerage firms Mackellar worked for deny accusations of sales practice violations.