Investment Losses with Financial Advisor Gary Meier

Since March 2018, the Former Cambridge Investment Research advisor has been hit with six customer disputes demanding over $1.4 million in damages

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Gary Meier (CRD# 1591561) is a previously registered broker and investment advisor. From 2013 to 2015, Mr. Meier was a registered representative with Cambridge Investment Research based in Vancouver, Washington.

Since March 2018, Mr. Meier has had six customer disputes filed against him, including four in this year alone. The disputes, which are currently pending, are requesting an aggregate amount of over $1.4 million in damage.

According to the disclosures in Mr. Meier’s BrokerCheck report, the allegations are as follows:

March 22, 2019: “SOC alleges suitability of low priced securities.” Customer is requesting $188,000 in damages.

March 1, 2019: “Client alleges misrepresentation of low priced securities.” Customer is requesting $225,000 in damages.

January 28, 2019: “Client alleges misrepresentation of low priced securities.” Customer is requesting $450,000 in damages.

January 11, 2019: “Client alleged sale of unsuitable stocks.” Customer is requesting $65,000 in damages.

May 29, 2018: “Alleges suitability, breach of fiduciary duty, negligence.” Customer is requesting $252,000 in damages.

March 30, 2018: “Clients allege RR sold them unsuitable products.” Customer is requesting $278,500 in damages.

Mr. Meier’s BrokerCheck report also contains four other disclosures: two regulatory actions and two customer disputes.

The most recent regulatory action was initiated by the Washington State Department of Financial Institutions and alleged that Mr. Meier had violated the Securities Act of Washington. This action was resolved by Mr. Meier’s consent to cease and desist the violative conduct. The other regulatory action is currently pending.

Of the two customer disputes, one was settled and the other was closed with no action taken. The one that was settled alleged misrepresentation of investments, suitability, negligence, and breach of fiduciary duty as causes of action. Although it requested $310,000 in damages, it was settled for only $93,500.