The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Gary Meier. According to his publicly available FINRA BrokerCheck report, Gary Meier has been the subject of multiple customer disputes.
Gary Meier was a Washington based securities broker. He worked in the securities industry for twenty-seven years. During his career, he was registered with six different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- AAL Capital Management (1987-1999)
- Veravest Investments (1999-2003)
- Securities Service Network (2003-2008)
- Pacific West Securities (2008-2012)
- Symetra Investment Services (2012)
- Cambridge Investment Research (2013-2015)
The Allegations
- In June 2017, a customer alleged that Gary Meier made material misrepresentations of investments, managed their account negligently, and breached his fiduciary duty. This case was settled for $93,500 in damages.
- In March 2018, customers alleged that Gary Meier recommended unsuitable products. This case was settled for $68,750 in damages.
- In May 2018, a customer alleged that Gary Meier recommended unsuitable investments, breached his fiduciary duty, and managed their account negligently. This case was settled for $37,500 in damages.
- In January 2019, a customer alleged that Gary Meier recommended unsuitable stocks. This case was settled for $10,000 in damages.
- In January 2019, a customer alleged that Gary Meier made material misrepresentations. This case was settled for $19,000 in damages.
- In March 2019, a customer alleged that Gary Meier misrepresented low priced securities. This case was settled for $15,000 in damages.
- Also in March 2019, a customer alleged that Gary Meier recommended highly unsuitable low-priced securities. This case is currently pending. The customer is seeking $188,000 in damages.
What Does This Mean?
Securities brokers have a duty to their customers to always look out for their best financial interests. Specifically, making sure that their customers are financially suited for the investments they are recommending to them. An investor’s suitability can be determined by factors specific to every customer that include the customer’s age, investment objectives, financial situation, risk tolerance, and liquidity needs. Brokers who recommend investments to their customers contrary to these factors have exposed the investor to significant risks. Determining suitability is one of the most important parts of a securities brokers job. Brokers unable to do this effectively do not posses the skills necessary for their required duties.
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 Gary Meier, 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.
