Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Justin Y. Gerow (CRD: 4435995, Punta Gorda, Florida). Gerow was previously registered as a broker and investment adviser. His most recent employment was with LPL Financial LLC from January 2023 to May 2023, following a 21-year tenure at PFS Investments Inc. from 2001 to 2023.
Recent disclosures reveal concerns about Gerow’s conduct, including allegations of unsuitable investment recommendations and regulatory violations.
On September 10, 2024, FINRA initiated a regulatory action against Gerow (Case No. 2023078871001), alleging that he manually signed client names on forms without their prior permission. These forms were related to securities products, including mutual funds and variable annuities, and were used to transition clients from his previous firm to his new employer. As a result, FINRA determined that Gerow caused his firm to maintain inaccurate books and records. Affected clients included one who specifically reported not consenting to the broker-dealer change.
Without admitting or denying the findings, Gerow consented to FINRA’s sanctions, which included a three-month suspension from acting in any registered capacity, effective from September 16, 2024, to December 15, 2024. He was also ordered to pay a $5,000 fine.
On November 27, 2024, a client of PFS Investments Inc. alleged that annuities purchased in September 2021 were unsuitable based on Gerow’s recommendations. The client seeks damages of $36,000. This matter is currently pending resolution.
A separate complaint filed on the same day, November 27, 2024, by an LPL Financial LLC client alleged that Gerow made an unsuitable recommendation of a variable annuity on September 19, 2021. The client requested $36,000 in damages. However, LPL Financial denied the claim, stating that the allegations were unsubstantiated.
On May 8, 2023, LPL Financial discharged Gerow, citing that he submitted broker-of-record change forms containing non-genuine signatures to a mutual fund company. This termination followed the FINRA findings regarding unauthorized client signatures.
Looking for more information about Justin Gerow? If so, reach out to Soreide Law Group online or at (888) 760-6552 to consult with a securities attorney. Soreide Law Group works on a contingency basis, advances all costs, and helps investors across the United States with recovering losses from sales practice misconduct. Gerow and the firms he worked for deny accusations of sales practice violations.
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