Before Joining Cadaret, Grant (CRD# 10641) in 2014, Dewes was registered with Lincoln Financial Securities Corporation (CRD# 3870), Northeast Securities, Inc. (CRD# 25996), Cambridge Investment Research, Inc. (CRD# 39543), Signator Investors, Inc. (CRD# 468), John Hancock Mutual Life Insurance Company (CRD# ), Securities America, Inc. (CRD# 10205), and Thomas James Associates, Inc. (CRD# 15609). He had been in the industry since 1994.
Gerald Dewes Disclosures
Gerald Dewes (Gerald Roger Dewes) has 9 disclosures on his publicly-available FINRA BrokerCheck report (CRD# 2465538), including 5 customer disputes, 1 regulatory, 1 employment separation after allegations, and 2 judgment/liens:
May, 2020: A customer dispute alleged “unsuitable investment recommendations, common law fraud, breach of contract, negligent supervision, and breach of fiduciary duty in connection with their alleged investments in two unapproved private investments and two equity-OTC securities that were recommended by the individual through his independent registered investment adviser and effected through accounts held at a third-party broker-dealer.” $1,710,000 in damages were requested. The claim is pending as of this writing.
March, 2020: A regulatory disclosure initiated by FINRA states that Dewes “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation into his potential participation in undisclosed private securities transactions and outside business activities.”
March, 2020: A customer dispute alleges that a client “was not aware of a REIT investment recommended by advisor Dewes. Client also alleges unsuitability and high interest charges related to the investment.” The dispute is pending as of this writing.
November, 2019: A disclosure states that Cadaret, Grant & Co., Inc discharged Dewes, alleging “Advisor sold away from the firm by soliciting client investments in an unapproved, undisclosed outside business activity for which he was an officer and director.”
November, 2019: Alleges that “he heard nothing from advisor Dewes despite repeat promises of 10% returns three years earlier.” The claim was withdrawn.
January, 2018: A tax judgment/lien was disclosed in the amount of $76,672.
February, 2014: A tax judgment/lien in the amount of $6,300 was disclosed.
September, 2002: A customer dispute alleged that Dewes “traded client in a manner inconsistent with the stated investment objectives, and was not adequately supervised by broker dealer”. $91,000 in damages were requested and the case settled for $25,000.
December, 1999: A customer dispute alleged that “representative marketed pre-IPO series B preferred shares on behalf of a third party”. $654,652 in damages were requested. The claim was withdrawn without a settlement.
Allegation Of Selling Away
Gerald Dewes was discharged from his last employer, Cadaret, Grant & Co. for allegedly selling away. Selling away is when a broker or financial adviser sells a client an investment that was not approved by the firm they are registered with. Selling away is prohibited, but brokers have been known to do it to earn high commissions. Selling away can be dangerous for clients because the unapproved investments may contain high risks.
Gerald Dewes’ FINRA BrokerCheck report states in the “Other Business Activities” section that he is an owner and investment adviser at Sunbridge Management in East Amherst, New York. According to the report, he provides investment recommendations and sells term, ULS, whole life insurance, and fixed annuity products “with various companies.”
Contact Silver Law Group If You Have Investment Losses With Gerald Dewes, Former Cadaret, Grant
Silver Law Group has experience helping investors recover losses in cases of stockbroker misconduct, including selling away and other causes. Our firm has filed FINRA arbitration claims against Cadaret, Grant & Co., and represents investors nationwide and securities and investment fraud. Contact Scott Silver, Silver Law Group’s managing partner, toll free at (800) 975-4345 or at ssilver@silverlaw.com for a no-cost consultation.