Santa Ana, California financial advisor Blake Rose (CRD# 1836176) is involved in an investor complaint alleging his advice resulted in...Read More
Stewart Ginn: $300K Complaint Against Crosby Investment Group Advisor
San Diego financial advisor Stewart Ginn (CRD# 4503197) recently received an investor complaint alleging that his investment advice resulted in six-figure damages. Records provided by the Financial Industry Regulatory Authority indicate that he is a broker with Navian Capital Securities and Independent Financial Group, doing business as Crosby Investment Group. He is registered with IFG’s offices in Denver, Colorado and Santa Maria and Encinitas, California, as well as Navian’s office in Delray Beach, Florida.
Mr. Ginn’s BrokerCheck report discloses two investor complaints. The most recent, filed in December 2022, alleges that as a representative of Independent Financial Group, he recommended unsuitable investments, charged excessive commissions, and generated sales in the customer’s account that “resulted in significant profit which, in turn, created capital gains and a tax liability.” The pending complaint alleges damages of $300,000.
In a “Broker Statement” included with the pending complaint’s disclosure, Mr. Ginn pushes back against the allegations. “Initial investigation does not reveal information to support claim,” he writes, stating further: “Portfolio was profitable overall; therefore, because there is not a viable claim for losses, the claim focuses on commissions and tax consequences (as a result of the significant profit in the account). Firm intends to defend the case as without merit.”
A second investor complaint, filed in 2007, alleged that as a representative of Chicago Investment Group, he mis-managed a customer’s daughter’s college account. The complaint alleged damages of $8,800 and was closed with no action taken.
According to the Financial Industry Regulatory Authority, Stewart Ginn holds 20 years of securities industry experience. He has been registered as a broker with Navian Capital Securities in Delray Beach, Florida since 2021 and with Independent Financial Group in Encinitas, California; Santa Maria, California; and Denver, Colorado since 2015. He does business as Crosby Investment Group, whose website states that he is based in San Diego. His registration history includes Newbridge Securities Corporation (New York, New York; 2009-2015), Chicago Investment Group (Chicago, Illinois; 2005-2009), Ladenburg Thalmann & Company (New York, New York; 2002-2005), and Ladenburg Capital Management (Bethpage, New York; 2002). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He currently holds 39 state licenses. (Information current as of January 14, 2023.)
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.