Phillip Oxford Sherrill of Cornelius, North Carolina, a stockbroker registered with Cambridge Investment Research Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $595,000.00 in damages based upon allegations that Sherrill made unsuitable investment recommendations of oil and gas investments and direct investments when Sherrill was associated with Cambridge Investment Research Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00954 (May 18, 2023).
FINRA Public Disclosure shows that Sherrill was referenced in three other customer initiated investment related disputes concerning Sherrill’s conduct while associated with securities broker dealers. On February 8, 2012, a customer initiated investment related FINRA securities arbitration claim involving Sherrill’s conduct was settled for $10,000.00 in damages based upon allegations that Sherrill made misrepresentations of material fact and made unsuitable recommendations of an equity indexed annuity and variable annuities during the time that Sherrill was associated with ING Financial Partners Inc. FINRA Arbitration No. 11-03101.
On February 20, 2013, a customer initiated investment related FINRA securities arbitration claim involving Sherrill’s conduct was settled for $407,000.00 in damages based upon allegations that Sherrill made unsuitable recommendation and omissions of material fact about risks, and that Sagepoint Financial Inc. failed to perform due diligence in connection with the sale of mutual funds. FINRA Arbitration No. 11-01115.
Sherrill was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $295,000.00 in damages based upon allegations that Sherrill made recommendations for fees and commissions, and prevented the customer from achieving appropriate returns through diversification when Sherrill was associated with Cambridge Investment Research Inc. FINRA Arbitration No. 22-00974 (May 18, 2023).
Sherrill has been associated with Cambridge Investment Research Inc. as a stockbroker and registered with Cambridge Investment Research Advisors Inc. as an investment advisor representative since July 7, 2011.
