Cadaret Grant

The law offices of Gana Weinstein LLP are currently investigating claims that advisor Gerald Dewes (Dewes), working out of East Amherst, New York, has been barred by a financial regulator concerning allegations that he engaged in the sales of private securities among other allegations. Dewes was barred by The Financial Industry Regulatory Authority (FINRA) concerning his private securities sales conduct. According to BrokerCheck records, Dewes was formerly registered with FINRA member firm Cadaret, Grant & Co., Inc. (Cadaret Grant). If you have been a victim of Dewes’ alleged misconduct our firm may be able to assist you in recovering funds.

In March 2020 FINRA found that Dewes consented to the sanctions and a bar from them industry as well as to the entry of findings that he refused to appear for testimony before FINRA during the course of an investigation into his potential participation in undisclosed private securities transactions and outside business activities. In addition, Cadaret Grant terminated Dewes alleging that he sold away from the firm by soliciting client investments into an undisclosed outside business activity called Elite Roasters, Inc. (Elite Roasters) for which he was an officer and director.

According to Dewes’ publicly disclosed records his outside business activities include Sunbridge Management.

In February 2017, broker Lee Rosenberg (Rosenberg) was subject to a customer complaint alleging $250,000 in damages concerning mutual funds and variable annuities. The complaint is currently pending. Rosenberg is currently associated with Cadaret, Grant & Co., Inc. (Cadaret Grant). The law offices of Gana Weinstein LLP are currently investigating customer complaints concerning this broker. According BrokerCheck the Rosenberg has a total of four customer complaint disclosures including allegations of unsuitable investments and unauthorized trading among other claims.

Variable annuities are complex financial and insurance products. In fact, recently the Securities and Exchange Commission (SEC) released a publication entitled: Variable Annuities: What You Should Know encouraging investors to ask questions about the variable annuity before investing. Essentially, a variable annuity is a contract with an insurance company under which the insurer agrees to make periodic payments to you. The investor chooses the investments made in the annuity and value of your variable annuity will vary depending on the performance of the investment options chosen. The primary benefits of variable annuities are the death benefit and tax deferment of investment gains.

However, the benefits of variable annuities are often outweighed by the terms of the contract that include exorbitant expenses such as surrender charges, mortality and expense charges, management fees, market-related risks, and rider costs.

Articles Tagged with Cadaret Grant

Advisor Gerald Dewes Accused of Selling Private Securities – Investor Recovery

Lee Rosenberg Subject to Variable Annuity Complaint