Cary Joel Cowan Sr., of Saint Augustine, Florida, a stockbroker registered with Next Financial Group Inc., is the subject of a customer initiated investment related complaint filed on October 30, 2023. The customer requested compensatory damages based on allegations that Cowan did not identify excess annual withdrawals, leading to an unexpected reduction of guaranteed benefit payments through variable annuities during the time that Cowan was associated with Next Financial Group Inc.
This is not the first time that Cowan has been referenced in a customer initiated investment related dispute concerning Cowan’s conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Cowan was also referenced in a customer initiated investment related complaint filed on October 19, 2005. In this complaint, the customer requested $63,000.00 in damages based on allegations that Cowan misrepresented material facts in connection with the sale of variable annuities when Cowan was associated with Next Financial Group Inc. The complaint was closed with no further action taken by the customer.
Cowan has been associated with Cadaret Grant Co. Inc. in St. Augustine, Florida since April 21, 2023, as a stockbroker, and since April 24, 2023, as an investment advisor representative. He is also registered with Arch Global Advisors LLC in St. Augustine, Florida as of June 29, 2023. Cowan was associated with Next Financial Group Inc. in St. Augustine, Florida from May 5, 2003, to April 21, 2023.
