Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 16, 2016 indicate that Pennsylvania-based Sagepoint Financial broker/adviser Jay Adams has received a customer complaint and a regulatory sanction. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Adams (CRD# 2799510).
Jay Adams has spent 19 years in the securities industry and has been registered with Sagepoint Financial in Oakmont, Pennsylvania since 2005. He was previously registered with SunAmerica Securities in Phoenix, Arizona (1996-2005). He is a registered broker and investment adviser with 17 US states and territories: Arizona, California, Colorado, Florida, Georgia, Kentucky, Maryland, Michigan, Minnesota, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Virginia, West Virginia, and Wisconsin.
According to his BrokerCheck report, Jay Adams has received one customer complaint, one regulatory sanction, and three denied customer complaints.
In 2013, a customer alleged Jay Adams, while employed at Sagepoint Financial, misrepresented material facts related to an investment. The customer sought $50,000 in damages in the complaint, which was denied.
In 2012, a customer alleged Jay Adams, while employed at SunAmerica Securities, recommended an unsuitable investment in a Viatical life insurance contract. The complaint settled in 2014 for $32,000.
In 2006, a customer alleged Jay Adams, while employed at SunAmerica Securities, recommended an investment that did not perform as promised. The customer sought $50,000 in damages in the complaint, which was denied.
In 2005, the State of Pennsylvania sanctioned Jay Adams following allegations he offered and sold interests to Pennsylvania residents in violation of the registration provisions of the Pennsylvania Securities Act of 1972. He was issued a fine of $11,500.
If you or someone you know has lost money investing with Jay Adams, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.