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Greg McLeod: Newbridge Advisor Faces $50K-$100K Complaint
Records filed with a US bankruptcy court indicate that at least one current or former customer of Newbridge Securities Corporation representative Greg McLeod (CRD# 2741097) is listed as a creditor for investments in GWG Holdings L bonds. The records, filed in Texas, describe investments of more than $500,000. Records maintained by the Financial Industry Regulatory Authority show that Mr. McLeod is currently based in Fort Lauderdale, Florida.
Mr. McLeod’s BrokerCheck report discloses two investor complaints. The most recent, filed in October 2022, alleges that as a representative of Newbridge Securities Corporation, he breached his fiduciary duty and acted negligently in connection with alternative investments. The pending complaint alleges damages between $50,000 and $100,000.
An earlier investor complaint, filed in July 2022, similarly alleges that as a Newbridge Securities Corporation representative, he breached his fiduciary duty, failed in his supervisory duties, breached contract, committed fraud, and violated FINRA Rule 2210 in connection with alternative investment recommendations. The pending complaint alleges damages of $85,000.
Investors should be aware that FINRA Rule 2210 states that all communications distributed by FINRA members be based on principles of fair dealing and good faith, must be fair and balanced, and must provide a sound basis for evaluating the facts in regard to any particular security or type of security, industry, or service.” The rule prohibits representatives like Mr. McLeod from omitting material facts that might result in the distribution misleading communications, and from making “any false, exaggerated, unwarranted, promissory or misleading statement or claim in any communication.” Representatives who violate this rule may be held liable for damages.
According to the Financial Industry Regulatory Authority, Greg McLeod holds 26 years of securities industry experience. Based in Fort Lauderdale, Florida, he has been a broker with Newbridge Securities Corporation since 2002 and an investment advisor with Newbridge Financial Services Group since 2006. His registration history includes Preferred Securities Group (Boca Raton, Florida; 1996-2002) and Southern Financial Group (Columbia, South Carolina; 1996-1997). His credentials include the passage of five securities industry qualifying exams: the Registered Options Principal Examination, or Series 4; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He currently holds 22 state licenses. (Information current as of May 30, 2023.)
Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.