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Newbridge Advisor Kyle Corgan: Negligence Complaint
Recent investor complaints against Syosset, New York financial advisor Kyle Corgan (CRD# 4417800) allege that he was negligent in his duties. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Newbridge Securities Corporation.
Mr. Corgan’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in June 2022, alleges that as a representative of Newbridge Securities Corporation, he was negligent and breached his fiduciary duty in relation to investments in alternative products. The pending complaint alleges damages of $100,000. In a statement on the disclosure, Mr. Corgan comments that he denies “all allegations made in the claim.”
A second investor complaint, filed in 2014, alleged that as a representative of David Lerner Associates, Mr. Corgan engaged in negligence and made misrepresentations regarding investments in corporate bonds and real estate securities. The complaint reached a settlement of $4,000.
A third complaint, filed in 2003, alleged that while at David Lerner Associates, Mr. Corgan made unsuitable recommendations and breached his fiduciary duty in connection to real estate investment trust (REIT) products. The complaint reached a settlement of $30,000.
A fourth complaint, filed in 2017, alleged that while at Fidelity Brokerage Services, Mr. Corgan “failed to clarify the tax implications” of a switch to a managed account. The customer sought $35,000 in the complaint, which Fidelity Brokerage Services denied.
According to the Financial Industry Regulatory Authority, Kyle Corgan holds 20 years of securities industry experience. Based in Syosset, New York, he has been a broker and investment advisor with Newbridge Securities Corporation since 2018. His past registrations include Fidelity Brokerage Services (Lake Grove, New York; 2011-2018) and David Lerner Associates (Syosset, New York; 2001-2011). His credentials include the passage of five securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Florida, Minnesota, Nevada, New York, and North Carolina. (Information current as of July 7, 2022.)
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.