Advisor Alert: Our Attorneys Are Investigating Bruce Albert Slater For Investment Fraud
Did You Lose Money Because of Bruce Slater?
Filed: October 27, 2023
Bruce Slater has been the subject of seven (7) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Bruce Albert Slater.
Who Is Bruce Albert Slater of Osaic Wealth, Inc.?
- Advisor Name: Bruce Albert Slater
- Aliases: Bruce Slater
- CRD: 1547792
- Location: Northville, Michigan
- Current Employer: Osaic Wealth, Inc.
- Previous Firms: Sagepoint Financial, Inc., and Transamerica Financial Advisors, Inc.
- Number of Known Customer Complaints: 7
- Can Bruce Slater Be Sued: Yes, in Private Arbitration
- Can Bruce Slater’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $2,500,000
- Highest Settlement: $905,000
If you have suffered investment losses by Bruce Slater, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Bruce Slater For Broker Misconduct
As of this publication date, Bruce Slater has been the subject of 7 customer disputes. Let’s review them below.
In November 2019, a FINRA arbitration was filed against or in reference to Bruce Slater by a customer of Transamerica Financial Advisors, Inc. alleging that Mr. Slater recommended that the client heavily concentrate her portfolio in speculative securities, which were unsuitable given her age, net worth and risk tolerance. Per the customer, she lost over $500,000 because of Mr. Slater’s actions. On October 1, 2020, Mr. Slater settled the claim for $330,000, and some or all of this amount may have been paid by Mr. Slater’s employer and/or insurance carrier.
In July 2017, a complaint was filed against or in reference to Bruce Slater by a customer of Sagepoint Financial Inc. alleging that Mr. Slater did not provide the client with copies of paperwork signed for a 2016 non qualified investment. Customer also alleges that representative mistakenly deposited nonqualified monies into customer’s IRA causing her to incur tax liabilities and penalties.
In October 2016, a FINRA arbitration was filed against or in reference to Bruce Slater by multiple customers of Transamerica Financial Advisors, Inc. alleging that Mr. Slater failed to properly advise them of the risks of the investments and recommended a speculative trading strategy that was unsuitable and that he failed to implement a protective strategy that would have protected them from losses. Per the customers, they lost over $2,500,000 because of Mr. Slater’s actions. On April 6, 2017, Mr. Slater settled the claim for $905,000, and some or all of this amount may have been paid by Mr. Slater’s employer and/or insurance carrier.
In June 2016, a FINRA arbitration was filed against or in reference to Bruce Slater by a customer of Transamerica Financial Advisors, Inc. alleging that the customer lost money when they sold at the bottom of market, on their own. Per the customer, he/she lost over $500,000 because of Mr. Slater’s actions. On November 30, 2016, Mr. Slater settled the claim for $133,000, and some or all of this amount may have been paid by Mr. Slater’s employer and/or insurance carrier.
In December 2015, a complaint was filed against or in reference to Bruce Slater by a customer of Transamerica Financial Advisors, Inc. alleging that Mr. Slater intentionally invested customer’s funds in unsuitable high-risk products, generating large front loaded fees inappropriate for their conservative to moderate portfolio position.
In November 2014, a FINRA arbitration was filed against or in reference to Bruce Slater by multiple customers of Intersecurities, Inc. (a.k.a. Transamerica Financial Advisors, Inc.) alleging that the clients invested in ridgewood energy fund in August 2008 which was not suitable and inconsistent with their objectives. Per the customers, they lost over $125,000 because of Mr. Slater’s actions. On December 30, 2015, Mr. Slater settled the claim for $60,000, and some or all of this amount may have been paid by Mr. Slater’s employer and/or insurance carrier.
In January 2004, a complaint was filed against or in reference to Bruce Slater by a customer of Intersecurities, Inc. alleging that an investment made in a variable annuity in August 2000 was unsuitable for his IRA fund. Per the customer, he lost over $32,500 because of Mr. Slater’s actions
How To File A Claim Against Bruce Slater of Osaic Wealth, Inc. (previously with Sagepoint Financial, Inc., and Transamerica Financial Advisors, Inc.) To Get Your Money Back.
If you have questions about Bruce Slater, Osaic Wealth, Inc., Sagepoint Financial, Inc., Transamerica Financial Advisors, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.