Soreide Law Group is investigating potential investor claims against securities broker Matt Neas [CRD#: 2863660, Boca Raton, Florida]. Notably, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck reports that no less than 11 clients contested the sales practices of the securities broker, who associated with Newbridge Securities Corporation from 2011 to 2017. Mainly, clients of Newbridge suggest that Neas negligently recommended or sold investments. They also suggest that the securities broker breached a fiduciary duty. The following contains a summary of some alarming disclosures concerning Neas:
Newbridge Investor Indicates That Matt Neas Was Negligent
Evidently, on June 3, 2019, a Newbridge client filed FINRA Arbitration #: 19-01510 concerning Matt Neas. Mainly, the client contended that Neas imprudently and unreasonably recommended or sold securities. Supposedly, the securities broker also breached his fiduciary responsibility. As a result, the client experienced losses on exchange traded funds. Therefore, the client asked for $100,000 in compensation from Newbridge or Neas. Supposedly, this arbitration is pending a resolution.
Neas Allegedly Sells Bad Investments To Newbridge Client
It appears that a client of Newbridge contested Matt Neas’ actions by bringing FINRA Arbitration #: 18-02000 on June 7, 2018. Allegedly, Neas made trades that did not fit with the client’s goals, risk tolerance or other criteria relating to suitability. Apparently, the securities broker charged an unreasonably high number of commissions. It seems that the exchange traded funds which Neas possibly recommended or sold had caused the client to sustain losses. For this reason, Newbridge agreed to settle the client’s dispute on May 16, 2019 through paying the client $925,000.
Newbridge Investor Suggests That Matt Neas Breached Fiduciary Duty
Apparently, on February 21, 2018, a Newbridge client filed FINRA Arbitration #: 18-00542 about Matt Neas. Notably, the client alleged that Neas breached a fiduciary duty that he owed to the client. Supposedly, he placed his interests ahead of the client’s interests and acted negligently. Also, Neas allegedly effected unsuitable trades, placing the client in overly risky investments. Apparently, on March 8, 2019, Newbridge settled this matter by paying the client $77,500.
FINRA Sanctions Neas
Evidently, on January 8, 2018, Financial Industry Regulatory Authority (“FINRA”) barred Neas from maintaining an association with any FINRA member. Supposedly, Neas failed to respond to a Request for Information.
Did Newbridge Securities Broker Matt Neas Sell You Bad Investments?
Have you experienced losses by investing with Matt Neas? 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 Neas and brokerage firms.