South Florida Broker Brian Michael Berger Permanently Barred by FINRA

Allegations include elder fraud, misappropriation and failure to provide requested information

Following a fifteen-year career in the securities industry, Boca Raton-based financial adviser Brian M. Berger has been permanently barred from the industry due to allegations of funds misappropriation as well as failing to respond to FINRA requests for information.

According to official documents filed with FINRA in July, Berger was the subject of an investigation by FINRA for misappropriating funds from elderly customers while registered with Wells Fargo, LLC and MetLife Securities, Inc. When FINRA requested documentation and information from Berger, along with on-the-record testimony, Berger reportedly refused, resulting in his exile from the industry.

During his time at Wells Fargo Advisors LLC, several allegations were made against Berger. One claim included allegations that Berger charged a client’s account for payments made to Discover card accounts owned by Berger. Damages were granted on the claimant’s behalf for over $184,000.

During his time at CGMI, Berger was accused of unsuitable representation and the client was granted $13,500 in damages. Berger was discharged from Metlife Securities in April 2015 for not following company policies in respect to customer signatures on account documents.

If you’re an investor who was wronged by Berger, or if you feel your broker has acted inappropriately, it’s important for you to understand your rights as an investor. A knowledgeable securities attorney may be able to help you recover financial losses incurred due to churning and other stockbroker misconduct. The key is to select an experienced securities attorney well versed in securities arbitration, and one with a strong track record in successfully recovering client losses.

The attorneys at Silver Law Group represent investors nationwide and are committed to helping investors recover investment losses caused by stockbroker misconduct. Our consultations are free, and the firm operates on a contingent-fee basis, in which the firm is compensated only when we are successful in recovery. Contact us today to schedule your complimentary consultation and to discuss your rights as an investor in greater detail.