Last Updated: January 2025 (West Jefferson, NC)
Jerry Hanifan Jr. Investigation Summary
Here’s what you need to know about West Jefferson, NC, stockbroker Jerry Hanifan Jr.:
- Name: Gerald Best Hanifan Jr.
- Current Employer: USA Financial Securities LLC
- DBA: Estate Planning Center & Omega Associates, both located in Morehead City, N.C.
- CRD Number: 2286666
- Function: Stockbroker / Financial Advisor
- Primary Location: West Jefferson, NC
- Aliases: Jerry Hanifan
- Can Gerald Hanifan be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $500,000
- Pending Customer Disputes Seeks Damages of: $240,000
If you’ve sustained damages from Mr. Hanifan, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Jerry Hanifan As Your Stockbroker?
Customers of USA Financial Securities LLC have filed multiple complaints against Mr. Hanifan alleging unsuitable investment recommendations, inadequate explanations of investment details, and breaches of fiduciary duty, including:
- A settled dispute in 2017 in which a customer alleged unsuitable recommendations in fixed annuities and variable universal life policies, resulting in a $500,000 settlement. Superior Court of New Jersey.
- Three currently pending FINRA disputes:
- A 2024 dispute alleging unsuitable investments in real estate securities, seeking $100,000 in damages (Case #24-00233).
- Another 2024 dispute seeking $90,000 alleging unsuitable investments in real estate securities (Case #24-01984).
- A 2025 dispute involving alleged damages of $50,000, alleging similar allegations as the other two pending cases. (Case #24-02603).
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 Gerald Hanifan
Customers of Gerald Hanifan have alleged the following misconduct in connection with the handling of their accounts:
- Unsuitable Investment Recommendations:
Multiple complaints accuse Mr. Hanifan of recommending inappropriate investments that did not align with the clients’ financial goals or risk tolerance. These actions may constitute a violation of FINRA Rule 2111 on suitability. - Failure to Adequately Explain Investment Terms:
Allegations indicate Mr. Hanifan failed to provide sufficient details regarding the risks and complexities of real estate securities and variable universal life policies, which contributed to client losses. - Excessive Trading and Policy Mismanagement:
Past dispute highlights alleged issues with overtrading and mishandling insurance products, including variable annuities.
FINRA requires brokers to disclose disputes, regulatory sanctions, and certain financial matters such as personal bankruptcies and liens.
See this for more information on REITs and Other Alternative Investments
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Jerry Hanifan Jr., contact us for a complimentary consultation with an experienced 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.