Last Updated: December 2023 (Wildwood, FLorida)
John Gaffney Investigation Summary
Here’s what you need to know about Wildwood, Florida, stockbroker John Gaffney:
- Name: Mr. John Patrick Gaffney
- Current Employer: Not currently registered with FINRA
- DBA: CFG Capital Management
- Previous Firms: Cetera Advisors, B. Riley Wealth Management, National Securities Corp. , LPL Financial, Citigroup Global Markets
- Function: Stock Broker/ Financial Advisor
- Aliases: John Gaffney
- Primary Location: Wildwood, FL
- CRD 2827905
- Can John Gaffney be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Customers submitted claims that were “denied” by firm: Yes
- Highest Settlement or Award: $40,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With John Gaffney As Your Stockbroker?
Two customers of National Securities Corp. have settled claims alleging wrongdoing by John Gaffney. One customer was paid $20,000 to resolve claim that Gaffney recommended an unsuitable real estate investment. Another customer was paid $40,000 to settle a FINRA arbitration alleging that Gaffney recommended an unsuitable options trading strategy.
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.
Two other customers made claims that were “denied” by the company and apparently those customers did not seek legal assistance or otherwise persue their claims. See below for our advice if you have made a claim that was ‘denied’ by the firm.
Allegations of Broker Misconduct Against John Gaffney
Customers of John Gaffney have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to employ options strategy
- Unsuitable recommendation to purchase real estate investment
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
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.
Has Your Brokerage Firm “Denied” Your Claim for Damages Due to Stockbroker Malpractice?
It is quite common, as well as predictable, for brokerage firms to deny a customer’s complaint made directly to the company. Firms know that in many, if not most, instances telling the customer “we don’t think it’s our fault” will be an end to the problem. In other words, it’s generally a waste of your time to sit down with the office manager & the broker.
Firms seldom, if ever, offer any resolution when a customer deals directly with them, or if they do, will attempt to have you settle your case for a fraction of what it is actually worth.
We suggest that if you think there is a problem with the way your account has been handled, or if you have had your claim “denied”, talk to an experienced securities attorney.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by John Gaffney, 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.
