R. Gregory Fisher: FINRA Suspends Ex-SagePoint Advisor

Travis City, Michigan financial advisor R. Gregory Fisher (CRD# 3230753) was recently sanctioned and suspended in connection with allegations he violated his member firm’s policies and procedures. Financial Industry Regulatory Authority records show that he is currently registered as a broker with McNally Financial Services Corporation, having previously been registered with SagePoint Financial.

Mr. Fisher’s BrokerCheck report discloses the recent FINRA sanction against him. Filed in November 2023, it states that he broke his former member firm’s rules “when he acted in fiduciary capacities on behalf of, and accepted being named a beneficiary by a firm customer to whom he was not related.”According to FINRA’s findings, the customer in question gave him power of attorney “and named him the first successor trustee” on a revocable living trust. Mr. Fisher was also named as a 10% beneficiary trust, according to FINRA’s findings, as a result of which he “stood to inherit over $100,000.”

When the customer died, Mr. Fisher “became the primary trustee of the trust and the executor of the customer’s estate.” Despite these developments, he allegedly attested on firm questionnaires “that he understood the firm’s policies and had complied and would continue to comply with them.” In connection with these findings, FINRA fined him $5,000 and suspended him from registering with any member firm for two months. In a statement included with the sanction’s disclosure, Mr. Fisher contextualized the allegations against him. “The client was a close family friend for over 30 years made prior to me entering the securities industry,” he wrote. “My actions were done to assist him.”

A second disclosure on Mr. Fisher’s BrokerCheck report concerns his termination from SagePoint Financial. According to the disclosure, the firm fired him in connection with allegations that he acted as a trustee and beneficiary on a client account without notifying the firm or receiving its approval. “The owner of the trust is a long time family friend,” Mr. Fisher wrote in a comment included with the disclosure, “and he was asked to be the trustee long before he was a customer.”

According to the Financial Industry Regulatory Authority, R. Gregory Fisher holds 24 years of securities industry experience. Based in Travis City, Michigan, he has been a broker with McNally Financial Services Corporation since April 2021. His past registrations include SagePoint Financial (Travis City, Michigan; 2008-2021), American General Securities Incorporated (Travis City, Michigan; 2002-2008), and Franklin Financial Services Corporation (Houston, Texas; 1999-2002). His credentials include the passage of three securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Florida, Kentucky, Michigan, Minnesota, New Mexico, Ohio, South Carolina, and Texas. (Information current as of January 18, 2024.)

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