The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Christopher Bice. According to his publicly available FINRA BrokerCheck report, Christopher Bice has been the subject of multiple customer disputes over the course of his career.

Christopher Bice is a North Carolina based securities broker. He has worked in the securities industry for twenty years. During his career, he has been registered with four different securities firms.

His Registrations

  • UBS Painewebber (1999-2002)
  • A.G. Edwards & Sons (2002-2003)
  • Sun America (2003-2005)
  • Sagepoint Financial (2005-Present)

The Allegations

  • In August 2016, a customer alleged that Christopher Bice recommended unsuitable investments. This case was settled for $10,000 in damages.
  • In February 2018, a customer alleged that Christopher Bice made unsuitable investment recommendations, over-concentrated their account, and made material misrepresentations. This case is currently pending. The customer is seeking $750,000 in damages.
  • In November 2018, another customer alleged that Christopher Bice recommended unsuitable investments, over-concentrated their account in said investments, and misrepresented material facts. This case is currently pending. The customer is seeking $1 million in damages.

What Does This Mean?

Most investors lack the ability to invest suitably on their own behalf without help from a financial advisor. This is the reason that most investors hire securities brokers. So that the broker can recommend what securities are suitable for them. Brokers can determine this by analyzing factors like the customer’s financial situation, age, risk tolerance, investment objectives, and liquidity needs. One of the most important aspects of a broker’s job is conducting the necessary due diligence that is required to determine suitability based on these factors. Because of this, securities brokers are unable to excuse themselves when things go badly by claiming they were unaware of an investment’s unsuitability.

Securities brokers are also required to adequately diversify their customers’ accounts. When an investor’s account is over-concentrated in a singular investment, their financial success is entirely predicated on the success of that singular investment. In order for investors to be financially successful, their portfolio needs to be diversified by their broker to the point that their success or failure is not determined by one, or a few, products.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Christopher Bice, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.