Cubby Bice, Broker with Sagepoint Financial, Facing Multiple Customer Disputes Alleging Unsuitable Recommendations

Bice has three customer disputes currently pending against him.

Christopher “Cubby” Bice (CRD#: 3222439) is registered as a broker and financial advisor with Sagepoint Financial, where he has been employed since 2005. Previously, Bice was registered as a broker with SunAmerica Securities from 2003 until 2005.

Bice has five disclosures on his BrokerCheck report.

July 2020 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges that a private placement was unsuitable.
• Damage Amount Requested: $300,000.00

February 2020 Customer Dispute

• Status: Final
• Allegations: Claimants allege Mr. Bice recommended the purchase of private placements that were unsuitable.
• Damage Amount Requested: $350,000.00
• Broker Comment: The advisor denies liability. The investment was suitable for claimant’s risk tolerance and investment objectives. The settlement was agreed to by the broker-dealer solely to avoid the needless expense and distraction of litigation. The advisor did not contribute or any way participate in the settlement.

November 2018 Customer Dispute

• Status: Pending
• Allegations: Unsuitable investment recommendations, investment overconcentration, misrepresentation, and failure to supervise.
• Damage Amount Requested: $1,000,000.00
• Broker Comment: The claims are without merit and are denied in their entirety. All of the investments recommended by Mr. Bice appropriately matched Claimants’ risk profiles and investment strategies. There was no investment overconcentration as Claimant’s portfolio was appropriately diversified. Moreover, all fees and commissions were accurately disclosed to Claimant and she received and signed written disclosures acknowledging the fees. Last, Claimant suffered no overall out-of-pocket net losses with respect to her investments. Quite the contrary, she only achieved net gains as well as significant guarantees for future income streams.

February 2018 Customer Dispute

• Status: Pending
• Allegations: Unsuitable investment recommendations, investment over-concentration, misrepresentation, and failure to supervise.
• Damage Amount Requested: $750,000.00
• Broker Comment: The claims are without merit and are denied in their entirety. All of the investments recommended by Mr. Bice appropriately matched Claimants’ risk profiles and investment strategies. There was no investment overconcentration as Claimant’s portfolio was appropriately diversified. Moreover, all fees and commissions were accurately disclosed to Claimants and they received and signed written disclosures acknowledging the fees. Last, Claimants suffered no overall out-of-pocket net losses with respect to her investments. Quite the contrary, they only achieved net gains as well as significant guarantees for future income streams.

April 2002 Employment Separation After Allegations

• Firm Name: UBS Paine Webber
• Termination Type: Discharged
• Allegations: I directed an employee to sign clients’ names to a new account form.
• Broker Comment: I was out of town when a client’s assets transferred in. The majority of the assets were restricted stock. These assets transferred into an existing account that was a managed discretionary account. I needed to move the restricted stock out to ensure that it would not be sold. A colleague could not find the new account form and I asked him to open a new one to protect the client’s account.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Cubby Bice. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.