The US Department of Justice recently announced fraud charges against former Queens investment advisor Roshan Perera (CRD# 4716321). According to...Read More
Guilford Nergard: 6-Figure Complaints Against Sanctioned Ex-Newbridge Rep
Guilford Nergard (CRD# 2360614), a Phoenix-area investment professional, is involved in customer disputes and was recently sanctioned by securities regulators. According to Financial Industry Regulatory Authority records, Nergard is not currently registered as a broker, though he was previously registered with Newbridge Securities in Mesa, Arizona. He is currently registered as an investment adviser with SB Advisory in Phoenix.
Guilford Nergard’s BrokerCheck report, a public record operated by FINRA, describes three customer complaints that reached settlements with the customer, and one that is still pending. It also describes a March 2021 sanction by the Arizona Corporation Commission over allegations he made “discretionary trades for his clients without proper authorization.” According to the ACC’s website, the sanction related to the Commission’s findings that his former member firm “revoked his discretionary trading authority and subsequently terminated his employment for failure to obtain permission from his clients before exercising a trade.revoked his discretionary trading authority and subsequently terminated his employment for failure to obtain permission from his clients before exercising a trade.” It states that Nergard admitted to the findings, agreeing to a three-month suspension of his securities salesman registration in the state, plus a penalty of $2,500.
A May 2021 complaint against Guilford Nergard alleges that while employed at Raymond James & Associates, he mismanaged accounts. The complaint reached a settlement of $175,000.
A pending complaint filed in October 2020 alleges that while he was employed at Raymond James & Associates, Guilford Nergard engaged in unauthorized trading and excessive trading. The pending complaint alleges damages of $158,433.90. The disclosure includes a “Broker Statement” that states the complaint “is without merit and resulted from a misunderstanding.”
A 2008 complaint against Guilford Nergard relates to the sale of an auction rate security before the widespread illiquidity in that market. It reached a settlement of $50,116.50.
A 2004 complaint alleged that while he was at Citigroup Global Markets, Nergard violated suitability obligations, engaged in unauthorized trading, breached his fiduciary duty, and misrepresented an investment. The complaint reached a settlement of $9,999.99.
According to the Financial Industry Regulatory Authority, Guilford Nergard holds 28 years of securities industry experience. He is not currently registered as a broker; he is registered as an investment adviser with SB Advisory in Phoenix, Arizona. His broker registration history includes San Blas Securities (Atlanta, Georgia), Newbridge Securities Corporation (Mesa, Arizona), Raymond James & Associates (Tempe, Arizona), Morgan Stanley (Tempe, Arizona), Citigroup Global Markets (Tempe, Arizona), and Lehman Brothers (New York, New York). He has passed the Uniform Investment Adviser Law Examination (Series 65), the Uniform Securities Agent State Law Examination (Series 63), the Securities Industry Essentials Examination (SIE), the National Commodity Futures Examination (Series 3), and the General Securities Representative Examination (Series 7). (Information current as of November 15, 2021).
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. 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.