Allegations of Unsuitable Recommendations Filed Against Broker Christopher Bice

Christopher R. (“Cubby”) Bice is a registered broker and investment advisor currently employed with Sagepoint Financial, Inc. (CRD#: 133763) of Greensboro, NC. His previous employers include A. G. Edwards & Sons, Inc. (CRD#:4) of St. Louis, MO and UBS Painewebber Inc. (CRD#:8174) of Weehawken, NJ.  He has been in the industry since 1999.

Bice is the subject of three customer disputes, with two listed as “pending.”  The first dispute was filed on 2/9/2018, and the second on 11/12/2018, and have identical allegations of “unsuitable investment recommendations, investment overconcentration, misrepresentation, and failure to supervise.”  The total requested damages for these two disputes is $1,750,000.

A previous customer dispute filed on 8/8/2016 alleging an unsuitable investment. The customer requested damages of $57,000, and Sagepoint settled for $10,000 to avoid the costs of arbitration. Bice denies the allegations.

Bice was discharged from UBS Paine Webber on 4/12/2002 after he directed another employee to sign client names to a new account form as a quick convenience and to prevent restricted stock from being sold.

SagePoint Financial has recently been the subject of multiple arbitration claims relating to the sale of illiquid investments including, but not limited to, GPB Automotive and other REITS. These products are frequently very confusing to investors, but are popular on Wall Street because of the high commissions and other factors. Investors have alleged that firms that sold these products failed to do reasonable due diligence or overconcentrated the investors portfolio, amongst other allegations.

Did You Invest Money With Christopher Bice?

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