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Jack McBride Of B. Riley Wealth Management Has 7 Customer Complaints For Alleged Broker Misconduct

Who is Jack McBride of B. Riley Wealth Management?

Jack McBride (CRD #2517946) who is currently registered with B. Riley Wealth Management and located in Plymouth, Michigan is a subject of one of our many securities industry sales practice abuse investigations.

Jack McBride has also been the subject of a FINRA investigation for allegedly making a mistake in execution of transactions in an account and then settling directly with the customer, without his brokerage firm’s knowledge or consent and other alleged misconduct.  The investigation was settled without admitting or denying the allegations, and Jack McBride was sanctioned with a 40 day suspension and $12,500 fine.

Jack McBride Customer Complaints

Jack McBride has been the subject of 7 customer complaints that we know about, one of those complaints was filed in the last year to recover investment losses. Three of Jack McBride’s 7 customer complaints were settled in favor of investors. Three of Jack McBride’s customers’ complaints were denied and, to date, the customers have not taken any further action. There is currently one pending customer complaint filed against B. Riley Wealth Management for investment losses caused by Jack McBride’s alleged misconduct.

Allegations Against Jack McBride

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Claimant alleged that the entire management and supervision of his account were at issue in his claim, including the products (unspecified in the statement of claim) recommended and sold by respondents allegedly by Jack McBride.
  • Claimant alleged that he was recommended and sold unsuitable inverse-leveraged ETFs as well as precious metals and mining/natural resources ETFs and common stocks by Jack McBride.
  • Claimants alleged they suffered substantial economic damage as a result of the unauthorized and unsuitable transactions placed by Jack McBride, including transactions in exchange traded products like VXX.
  • Client alleged Jack McBride’s excessive fees, commissions and unsuitable recommendations. Client questioned changing account from fee based to commission.
  • Customers alleged Jack McBride’s unauthorized purchase of America Online, Inc.
  • The claimant alleged they were invested in ETFs and ETNs by Jack McBride that were prohibited under firm policy, unsuitable, not diversified and overly concentrated.

Jack McBride Red Flags & Your Rights As An Investor

Of course, Jack McBride did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Jack McBride at B. Riley Wealth Management on alert to review carefully the activity and performance of their accounts and question whether Jack McBride has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at B. Riley Wealth Management also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At B. Riley Wealth Management Due To Jack McBride

If you have questions about B. Riley Wealth Management and/or Jack McBride and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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