Securities Lawyers Blog
The investment lawyers at Gana Weinstein LLP have experience helping investors determine whether their portfolio losses at investment firms, such as Smith, Brown & Groover, Inc., were caused by broker misconduct. There are many different ways that your broker can impermissibly drain your accounts. Our attorneys can help you understand the cause of your investment losses, uncover misconduct, and apply the law to hold accountable those responsible.
Smith, Brown and Groover, doing business as SBG Wealth Management, is an investment advisory and brokerage firm that provides discretionary portfolio management and handles transactions in mutual funds, exchange-listed securities, annuities, and insurance products. Incorporated in Georgia in 1967 and based on Vineville Avenue in Macon, the firm serves individuals, high-net-worth clients, trusts, estates, charitable organizations, and corporations.
Smith, Brown & Groover, Inc. – By the Numbers:
- CRD #: 1329
- Regulatory Events: 17
- Broker Employees: 7
Smith, Brown & Groover, Inc. – Investment Advisors:
- SEC #: 117531
- Assets Under Management: $284,162,648
- ADV Form Employee: 7
Smith, Brown & Groover, Inc. – In the News:
FINRA v. Smith, Brown & Groover, Inc. (Case #2019063352401) – From July 2014 to February 2018, Respondents recommended a trading strategy, developed by Smith, to their customers without fully understanding the features and risks of the strategy or the exchange-traded note (ETN) that the strategy primarily invested in. Therefore, Respondents did not have a reasonable basis to recommend the strategy to any customer, in violation of FINRA Rules 2111 and 2010. Respondents also failed to reasonably supervise the suitability of the trading strategy by failing, among other things, to establish procedures for, or evaluate, the reasonable-basis suitability of products like the ETN or over-concentration in such products that would create a risk of loss inconsistent with customers’ investment profiles. Therefore, Respondents violated FINRA Rules 3110 and 2010 and NASD Rule 3010.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.