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Written by 5:37 pm Blog, Broker Investigations

Gary Bowman of Sagepoint Sanctioned for Unsuitable UITs 

Gary Bowman of Sagepoint Sanctioned for Unsuitable UITs, featured by top securities fraud attorneys, the White Law Group

CFP Board Revocation, FINRA Suspends Gary Bowman, Sagepoint Financial 

According to a press release on March 1, 2022, the Certified Financial Planner Board of Standards, Inc. (CFP Board) announced public sanctions against financial advisor Gary Bowman. The board reportedly issued an administrative order permanently revoking Bowman’s right to use the CFP® certification marks after he allegedly failed to file an Answer to CFP Board’s Complaint within the required timeframe.  

The CFP Board’s Complaint was in connection to allegations by the Financial Industry Regulatory Authority (FINRA), in which Bowman was suspended from association with any FINRA member in any capacity for three months and issued a $10,000 fine for violating FINRA Rules 2111 and 2010.  

Bowman allegedly engaged in an unsuitable pattern of short-term trading of Unit Investment Trusts (UITs) in customer accounts, and purportedly made recommendations that caused his customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions, according to FINRA.  

According to the announcement, Bowman did not report FINRA’s findings to the CFP Board as required. After he reportedly failed to file an Answer to the Complaint he has been deemed in default, and CFP Board issued an Administrative Order of Revocation.  

According to his broker report, Bowman was affiliated with the following firms during his career in the securities industry. 

02/15/2013 – 08/06/2021, SAGEPOINT FINANCIAL, INC. (CRD#:133763), CORONA, CA,
12/03/2008 – 02/28/2013, ARQUE CAPITAL, LTD. (CRD#:121192), ORANGE, CA 

How to Recover Investment Losses    

When brokers violate securities laws, such as making unauthorized transactions or unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

If you have suffered losses investing with Gary Bowman, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.     

The foregoing information, which is all publicly available, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. For more information, please visit our website, www.whitesecuritieslaw.com.  





Tags: , , , , Last modified: July 20, 2023