Gregory Tucker Allegedly Over-Concentrates Customer Accounts

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

Gregory Tucker is an Iowa-based securities broker who has worked in the securities industry for forty-one years. During his career, he has been registered with three different securities firms.

His Registrations 

• F. Stepp Investments (1976-1982)


• Ruan Securities Corporation (1985-2009)


• A. Davidson (2009-Present)

The Allegations 

• In February 2016, Gregory Tucker was a subject of a customer’s complaint against his member firm, D.A. Davidson, that alleged misrepresentation, negligence, and a breach of the firm’s fiduciary duty. This case went to arbitration where the customer was awarded $950,751 in damages.


• In November 2016, a customer alleged that Tucker had mishandled her account, including investment recommendations that were unsuitable and overly concentrated, and that her account was excessively traded. This case was settled for $377,250 in damages.


• In November 2019, customers alleged that Tucker had breached his fiduciary duty by recommending unsuitable investments. This case was settled for $215,000 in damages.


• In April 2020, a customer alleged that Tucker recommended purchase of unsuitable bonds in unsuitable concentration. This case is currently pending, and the customer is seeking $1,000,000 in damages.


• In April 2020, a customer alleged that that Tucker recommended unsuitable bonds. This case is currently pending, and the customer is seeking $500,000 in damages.

What Does This Mean?

Securities brokers have an obligation to their customers to always look out for their best financial interests—this obligation is their duty as a fiduciary. One important aspect of this duty is making sure that their customers’ portfolios are properly diversified in a manner suitable to their investment objectives. For example, investors with more conservative investment objectives should not have their accounts concentrated solely in risky securities. This would be contrary to their objectives and risk tolerance. Brokers must also make sure they are diversifying a customer’s portfolio in different investments regardless of the customer’s objectives or risk tolerance. Even if a customer is seeking to have their account traded more aggressively, then the broker must still make sure they place the customer in different stocks. That means that the success of the individual’s account is not entirely determined by the success or failure of one security.

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 due to this fraud or negligence 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 Gregory Tucker, 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.