Gerard Crean Allegedly Breaches His Fiduciary Duty

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

Gerard Crean is a New York-based securities broker. He has worked in the securities industry for twenty-nine years. He has spent his entire career registered with just two different securities firms.

His Registrations

• First Choice Securities Corp. (1991)


• David Lerner Associates (1991-Present)

• In February 2004, a customer alleged that Gerard Crean made material misrepresentations relating to purchase of a variable annuity and mutual funds. This case was settled for $45,000 in damages.


• In March 2018, a customer alleged that Gerard Crean recommended unsuitable investments, made material misrepresentations, breached his fiduciary duty, managed their account negligently, and committed fraud. This case was settled for $42,500 in damages.

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 Gerard Crean, 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.