Gregory O’Brien: Complaint Against Hauppage Advisor Settled for $125K

PHX Investments advisor Gregory O’Brien (CRD# 3154314) has received multiple investor complaints alleging he made unsuitable investment recommendations. Financial Industry Regulatory Authority records show that he is a broker based in Hauppage, New York, having previously been registered with Aegis Capital in New York City.

Mr. O’Brien’s BrokerCheck report discloses several investor complaints. The most recent, filed in April 2022, alleged that as a representative of PHX Financial, he recommended unsuitable investments that performed poorly. The complaint reached a settlement of $25,000.

A second investor complaint, filed in 2020, alleged that while he was a representative of Aegis Capital, he unsuitably used margin. In 2021 the complaint reached a settlement of $125,000.

A third complaint, filed in 2019, alleged he breached his fiduciary duty, engaged in fraud, and was negligent while a representative of Aegis Capital Corporation. In 2020 the complaint reached a settlement of $59,000.

A fourth complaint, filed in 2018, alleged he breached contract, breached his fiduciary duty, and made unsuitable investment recommendations. The complaint reached a settlement of $147,500.

A fifth complaint, filed in 2012, alleged he recommended unsuitable investments while at America’s Choice Equities. In 2013 the complaint reached a settlement of $25,000.

According to the Financial Industry Regulatory Authority, Gregory O’Brien holds 22 years of securities industry experience. Based in Hauppage, New York, he has been a broker with PHX Investments since 2018. His past registrations include Aegis Capital (New York, New York; 2013-2018), America’s Choice Equities (Palm Beach Gardens, Florida; 2005-2013), Gunnallen Financial (Tampa, Florida; 2002-2005), Milestone Financial Services (Bohemia, New York; 2001-2002), Gilford Securities (New York, New York; 2001-), and Seaboard Securities (Florham Park, New Jersey; 2000-2001). His credentials include the passage of four securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds 29 state licenses. (Information current as of July 8, 2022.)

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