The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Garry Nelson Savage Jr. According to his publicly available FINRA BrokerCheck report, Gary Nelson Savage Jr. has been the subject of a customer dispute.

Garry Nelson Savage Jr. was an Ohio based securities broker. He worked in the securities industry for twenty-three years. During his career, he was registered with three different securities firms. He is not currently working as a registered securities broker in any fashion.

His Registrations

  • Royal Alliance Associates (1993-1995)
  • Securities America (1995)
  • Wall Street Strategies (1995-2017)

The Allegations

In June 2016, a customer alleged that Garry Nelson Savage Jr. handled their account negligently, violated the Ohio Securities Act, violated the Florida Securities and Investors Protection Act, engaged in common law fraud, made negligent misrepresentations, breached his fiduciary duty, breached contract, failed to conduct adequate due diligence, and recommended unsuitable securities. This case went to arbitration where the customer was awarded an undisclosed amount in damages. Savage did not comply financially with this award and was thus indefinitely suspended from acting as a securities broker in any fashion.

What Does This Mean?

Investors would not be able to leave their money with another party without the ability to trust that it would be taken care of. This trust only exists because investors know that brokers are bound by a duty to always act in the best financial interests of their customers. This duty is also referred to as their fiduciary duty. When less than scrupulous or incompetent securities brokers breach this duty, they are working toward the erosion of this trust. This in turn contributes to a possible downfall of the broker/investor relationship.

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 Garry Nelson Savage Jr., 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.