Bernard G. McGee (CRD# 1203327) formerly of Independent Financial Group’s Cazenovia, New York office, was permanently barred from the securities industry on December 22, 2014 for failing to disclose material information to a customer, and making unsuitable investment recommendations to a customer. The panel’s decision also ordered Bernard G. McGee disgorge his commissions and pay $236,202 as restitution to the affected customer.
According to the Complaint, filed by the FINRA Department of Enforcement on November 11, 2013, in March 2011, Bernard G. McGee recommended that one of his customers at Cadaret, Grant & Co. surrender four variable annuities, which were valued at approximately $494,000 and purchase a “charitable gift annuity”. (The $494,000 represented half of the customer’s net worth.) Mr. McGee falsely told the customer that she was facing a large tax liability and that the new investment would offset that liability. The customer paid Bernard G. McGee over $59,000 in fees as a result of the new investment.
Bernard G. McGee is appealing the panel’s decision which barred him from associating with any FINRA member firm in any capacity. For a full list of his customer complaints, see his BrokerCheck Report, made free to investor’s here.
Bernard G. McGee has worked for Independent Financial Group in Cazenovia, New York since October 2012. Before that Bernard G. McGee worked for Cadaret, Grant & Co. in Cazenovia, New York from 2007 to 2012. From 1996 to 2007 Mr. McGee worked for New England Securities in East Syracuse, New York. From 1989 to 2001 Bernard McGee worked for Royal Alliance in New York, New York.
If you have lost money investing with Bernard G. McGee through Independent Financial Group, Cadaret, Grant & Co., New England Securities, or any other broker-dealer firm, you may be entitled to recover your losses. Call the attorneys at Fitapelli Kurta now to further discuss the merits of your case. Our consultations are always free and all cases are taken on a contingency fee, which means we do not get paid, unless and until you recover your money.
Time is of the essence, so do not delay.
Call 877-238-4175 now.