Clarence McGill Barred By FINRA After Investigation Is Launched Into His Sales Practices

The Wolper Law Firm, P.A. is currently investigating claims against Clarence McGill, a former Financial Advisor at GWN Securities in Palm Beach Gardens, Florida.  Clarence McGill first entered the securities industry in the 1980s and previously worked for Fox Financial Management Corp. and Fox & Company Investments.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on July 16, 2018, FINRA sanctioned Clarence McGill for failing or refusing to produce documents requested by FINRA in connection with an investigation.  FINRA was investigating Clarence McGill for his alleged “recommendation and sale of unsuitable investment products to customers.”  Instead of producing the requested documents, Clarence McGill agreed to sanctions.

http://www.finra.org/sites/default/files/fda_documents/2018057843501%20Clarence%20L.%20McGill%20CRD%201838243%20AWC%20va%20.pdf

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives.  Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

GWN Securities Broker, Clarence McGill Barred By FINRA For Alleged Participation And Sale In Recommending Unsuitable Investments

The Wolper Law Firm, P.A. is currently investigating claims against Clarence McGill, a former Financial Advisor at GWN Securities in Palm Beach Gardens, Florida.  Clarence McGill has been in the securities industry since the 1980s and previously worked for Fox Financial Management Corp.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on July 16, 2018, Clarence McGill was indefinitely barred by FINRA from associating with any brokerage firm.  According to FINRA, Clarence McGill “refused to produce information as requested by FINRA in connection with its investigation of his possible participation in the recommendation and sale of unsuitable investment products to customers.”

https://brokercheck.finra.org/individual/summary/1838243#disclosuresSection

Clarence McGill’s employment with GWN Securities ended in March 2018, which coincides with FINRA’s investigation.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives.  Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

If you or someone you know was a customer of Clarence McGill and you experienced investment losses, please contact the Wolper Law Firm, P.A. at 800.931.8452 or by email at mwolper@wolperlawfirm.com to discuss your specific situation and the legal options available.  The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.