Gary Owens: $133K Complaint Against Owens Wealth Advisor

Boca Raton financial advisor Gary Owens (CRD# 1048781) is involved in an investor complaint alleging his advice resulted in six-figure damages. Financial Industry Regulatory Authority and other publicly available records indicate that he is a broker and an investment advisor with Merrill Lynch, where he is a member of the Owens Wealth Management Group.

Mr. Owens’ BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a representative of Merrill Lynch, he recommended unsuitable hedge fund investments. The pending complaint alleges damages of $133,084. In a statement included with the disclosure, Mr. Owens defended himself against the claim, writing: “I, Gary Owens, deny all the client allegations and I believe all the transactions were suitable.”

An earlier investor complaint, filed in 1991, alleged that as a representative of Shearson Lehman Hutton, he made misrepresentations regarding an earnings report, resulting in the claimant’s premature sale of puts and loss of an opportunity for profits. The complaint concluded with an award to the customer of $1,994.22.

According to Merrill Lynch’s website, Mr. Owens is a member of the Owens Wealth Management Group. The Boca Raton-based group states that it offers “bespoke strategies and solutions based upon the clients risk tolera[n]ce, time horizon, liquidity needs and overall investment goals.” Its page states further that it believes good client relationships “are built through teamwork and client involvement, delivered through our advisors, client associates and access to the global resources of Merrill,” stressing that its goal is to be its clients’ “primary source for financial advice and guidance.”

According to the Financial Industry Regulatory Authority, Gary Owens holds 40 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker and an investment advisor with Merrill Lynch since 2017. His past registrations include Morgan Stanley, UBS Financial Services, Lehman Brothers, and Blinder Robinson & Company. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is currently licensed in California, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, the Virgin Islands, Virginia, and Washington. (Information current as of January 14, 2023.)

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