Grant Christopher Birkley of Barrington, Illinois, a stockbroker formerly registered with SagePoint Financial Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $625,000.00 in damages supported by accusations of an inappropriate private investment fund through Birkley during the time that he was associated with Sagepoint Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02863 (October 7, 2021).
This is not the first time that Birkley has been involved in an investment related dispute where the customer alleged sales practice violations. FINRA Public Disclosure additionally shows that a customer filed an investment related FINRA securities arbitration claim involving Birkley’s activities in which the customer sought $2,400,000.00 in damages based upon allegations of unsuitable recommendations concerning an outside investment fund when Birkley was employed by Sagepoint Financial. FINRA Arbitration No. 21-01760 (August 13, 2020).
Birkley has been barred from associating with any FINRA member in any capacity founded on findings that Birkley did not cooperate with a FINRA investigation concerning accusations of his customer referrals to an outside asset manager. Letter of Acceptance Waiver and Consent No. 2020067641401 (June 4, 2021).
FINRA’s investigation into Birkley began when he was discharged by SagePoint Financial. The securities broker dealer discharged the stockbroker, supported by allegations of Birkley admitting to referring individuals to an outside asset manager. Birkley did not have permission to make those referrals, according to Sagepoint.
On April 13, 2021, Birkley was asked by FINRA to provide documents and information concerning the allegations made by SagePoint. FINRA learned from Birkley’s lawyer that Birkley refused to provide any of the documents or information requested in the investigation. The stockbroker violated Rules 2010 and 8210 for this reason.
Birkley was registered with SagePoint Financial between November 17, 2017, and August 19, 2020.
