Last Updated: October 2023 (Gig Harbor, WA)
Gary Imel Investigation Summary
Here’s what you need to know about Gig Harbor, WA, stockbroker Gary Imel:
- Name: Mr. Gary Lee Imel
- Current Employer: Not Currently Registered with FINRA dba South Sound Tax Services, Integrated Financial Services
- Previous Firms: Ameriprise Financial Services, Kalos Capital, Madison Avenue Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: None
- Primary Location: Gig Harbor, WA
- CRD 254765
- Can Gary Imel be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement : $152,923
- Pending Customer Dispute Seeks Damages of $98,500
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Gary Imel As Your Stockbroker?
Gary Imel discloses 11 prior customer complaints that were settled and one currently pending customer complaint.
Two customers of Madison Avenue Securities brought cases alleging that Gary Imel recommended unsuitable illiquid alternative investments and were settled for a cumulative total of $11,000.
Nine customers of Kalos Capital brought claims alleging that Gary Imel recommended unsuitable, illiquid alternative investments. A total of more than $300,000 was paid to resolve those cases.
Currently pending is a FINRA arbitration by a customer of Kalos Capital who alleges that Gary Imel recommended unsuitable alternative investments and is seeking damages of $98,500.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Allegations of Broker Misconduct Against Gary Imel
Customers of Gary Imel have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to purchase illiquid alternative investments including business development corporations, GPB Automotive, Cottonwood Residential, Cion, Carter Validus Mission Critical REIT II, GPB Waste Management
- Misrepresentation and omissions
- Breach of Fiduciary Duty
- Overly aggressive portfolio with a focus on private placements, specifically GPB Automotive
- Illiquid and High Risk Investments
- Overconcentration of alternative investments
- Fraud
- Portfolio lacked proper asset allocation
- Highly speculative investments
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Gary Imel, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
