GERALD FRANK WEIGEL is currently employed as a Broker and/or Investment Adviser at NEWBRIDGE SECURITIES CORPORATION located at 3310 WOODVILLE ROAD, SUITE C, NORTHWOOD, OH, 43619.
GERALD FRANK WEIGEL has worked at NEWBRIDGE SECURITIES CORPORATION since September 23, 2008
GERALD FRANK WEIGEL has 2 Disclosure Event(s).
Date: June 20, 2016 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE REP NEVER CARED ABOUT HIS INVESTMENT BEING SUITABLE FOR HIS NEEDS, THAT HE MISREPRESENTED THE INVESTMENTS TO HIM AND THEN CHURNED HIS ACCOUNT. Damage Amount Requested: $11,792.10 Broker Comment: The allegations made by the client are without merit and I intend to vigorously defend against them.
Date: April 11, 2006 Category: Customer Dispute Allegations: MISREPRESENTATION, SUITABILITY & BREACH OF FIDUCIARY DUTY Damage Amount Requested: $272,475.78 Settlement Amount: $75,000.00 Broker Comment: LESSON LEARNED-ALWAYS HAVE A CLIENT SIGN AN EXTRA PAPAER THAT EXPLAINS THAT HIS WISHER ARE NOT WHAT IS BEING ADVISED AT THE TIME. [CUSTOMER] WAS INVESTED 100% IN GROWTH FUNDS IN HIS 401 K BEFORE HE TRANSFERRED IT TO THIS IRA. I FOLLOWED THE DIRECTIONS OF [CUSTOMER] AND INVESTED HIS MONEY IN A GROWTH PORTFOLIO OF SMALL, MED, LARGE AND INTERNATIONAL FUNDS. I ALSO WENT ALONG WITH [CUSTOMER'S] WISHED TO WITHDRAW THE MAX ALLOWED BY THE IRS CODE OF 72T. THE INVESTMENT STARTED IN MARCH 2000. THE STOCK MARKET DROPED THE NEXT 3 YEARS AND WITH THE WITHDRAWALS THE ACCOUNT DECREASED RAPIDLY IN VALUE. [CUSTOMER] CALLED ING AND MADE SEVERAL CHANGES WITHOUT MY KNOWLEDGE AFTER HE AGREED TO ACCEPT A SMALLER MONTHLY INCOME TO CONFORM WITH THE 72T REQUIREMENTS. THIS AFFECTED HIS ACCOUNT. [CUSTOMER] WAS THE ONLY PERSON THAT COULD MAKE CHANGES TO HIS ACCOUNT. I DID MAKE A STATEMENT TO [CUSTOMER] THAT HIS ACCOUNT SHOULD BE OK IF THE MARKET CONTINUES. HE FORGOT THE WORDS "IF THE MARKET CONTINUES". THE ONLY GUARANTEE THE PROGRAM HAD WAS THE DEATH BENEFIT. COULD [CUSTOMER] HAVE MIXED THIS UP WITH HIS CLAIMS OR WAS THIS A WAY TO HAVE SOME OF HIS MARKET LOSS RETURNED TO HIS ACCOUNT? [CUSTOMER] RECEIVED MONTHLY STATEMENTS AND INCOME.
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