Bruce A. Slater, of Northville, Michigan, a stockbroker with Sagepoint Financial, Inc. was named in a customer initiated investment related arbitration claim on February 8, 2016, in which the customers requested $500,000.00 in damages based upon allegations that Slater misrepresented the nature, fees, and risks associated with investment products that were recommended to the customers. The customers also alleged that Slater’s investment recommendations were unsuitable.
FINRA Public Disclosure reveals that Slater has been previously named in three additional customer initiated investment related arbitration claims. Particularly, on January 12, 2004, Slater was named in a customer initiated investment related arbitration claim in which the customer requested $32,500.00 in damages based upon allegations that Slater made an unsuitable investment recommendation of a variable annuity investment.
On November 24, 2014, Slater settled a customer initiated investment related arbitration claim for $60,000.00 in damages based upon allegations that Slater made an investment recommendation in Ridgeway Energy Fund which was not suitable based upon the customer’s investment objectives. On December 9, 2015, another customer lodged an investment related arbitration claim against Slater, in which the customer alleged that Slater invested the customer’s funds in speculative investment products which were not suitable for the customer.
Guiliano Law Group
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