Advisor Alert: Our Attorneys Are Investigating Troy Robert Baily For Investment Fraud
Did You Lose Money Because of Troy Baily?
Filed: October 27, 2023
Troy Baily has been the subject of one (1) regulatory event and two (2) 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 Troy Robert Baily.
Who Is Troy Robert Baily?
- Advisor Name: Troy Robert Baily
- Aliases: Troy R Baily
- CRD: 4458930
- Location: Omaha, Nebraska
- Current Employer: Currently Not Registered
- Previous Firms: Sagepoint Financial, Inc., and Axa Advisors, LLC
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 1
- Can Troy Baily Be Sued: Yes, in Private Arbitration
- Can Troy Baily’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $250,000
- Highest Settlement: $80,000
If you have suffered investment losses by Troy Baily, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker 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 Troy Baily For Broker Misconduct
As of this publication date, Troy Baily has been the subject of 1 regulatory event and 2 customer disputes. Let’s review them below.
In October 2020, FINRA initiated a regulatory action against or in reference to Troy Baily. Without admitting or denying the findings, Baily consented to the sanctions and to the entry of findings that he engaged in undisclosed and unapproved private securities transactions. The findings stated that Baily solicited investors to purchase securities in Future Income Payments, LLC (FIP). FIP represented itself as a structured cash flow investment, claiming to purchase pensions at a discount from pensioners and then selling a portion of those pensions as a pension stream to investors. FIP generally promised investors a 7% to 8% rate of return on their investment. Baily sold $210,000 in FIP purchase agreements to four investors, including three who were customers of his member firm. Baily received a total of $8,900 in commissions in connection with these transactions. Respondent did not provide written notice to his firm prior to participating in the transactions involving FIP, nor did he obtain written approval from the firm. FIP ceased business, owing nearly $300 million in unpaid investor payments. In an indictment, the United States charged FIP and its owner with conspiracy to engage in mail and wire fraud related to FIP’s operations.
In August 2019, a complaint was filed against or in reference to Troy Baily by a customer of Sagepoint Financial, Inc. alleging that Mr. Baily gave improper recommendations of structured cash flow products in 2017 and 2018. Per the customer, he/she lost over $135,000 because of Mr. Baily’s actions. On March 3, 2021, Mr. Baily settled the claim for $80,000, and some or all of this amount may have been paid by Mr. Baily’s employer and/or insurance carrier.
In May 2008, a complaint was filed against or in reference to Troy Baily by a customer of Next Financial Group, Inc. alleging that Mr. Baily made unsuitable recommendations of variable annuity, limited partnerships, and a fixed annuity. Per the customer, he/she lost over $250,000. because of Mr. Baily’s actions.
How To File A Claim Against Troy Baily (previously with Sagepoint Financial, Inc., and Axa Advisors, LLC) To Get Your Money Back.
If you have questions about Troy Baily, Sagepoint Financial, Inc., Axa Advisors, LLC, 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.