InvestmentFraudLawyers.com has started an official investigation into Jeff Dixon at Madison Avenue Securities concerning the selling of GPB Capital to clients. Madison Avenue Securities, LLC (“Madison Avenue”) according to its website is a boutique broker-dealer that purports to put the client first. Founded in 2005 as a full-service independent broker-dealer and RIA. Madison Avenue touts a strong ethical code, a commitment to investor protection, suitability of investment and full disclosure. Based on other public records, Madison Avenue appears to be based out of San Diego, CA, and is believed to have approximately 115 employees in 50 states and nearly 11,000 clients with $485 million in assets under management.
Madson Avenue Complaints and FINRA Issues
According to a review of FINRA arbitration awards, there is a January 2018 Award in favor of former Madison Avenue customers based on alleged unauthorized and excessive trading. See FINRA Arbitration Case No. 16-01450.
Based on FINRA Brokercheck, Madison Avenue discloses an Acceptance, Waiver and Consent (AWC) from December 2016 where Madison Avenue did not admit or deny the allegations by the regulators and the matter resulted in a fine and censure based on Madison Avenue’s alleged failure to have written procedures or a supervisory system in place pertaining to creation and dissemination of consolidated reports sent to customers. Madison Avenue’s procedures were allegedly not consistently enforced and were allegedly inadequate. Also based on FINRA Brokercheck, Madison Avenue discloses an Acceptance, Waiver and Consent (AWC) from June 2013 where Madison Avenue did not admit or deny the allegations by the regulators and the matter resulted in a fine and censure based on Madison Avenue’s alleged violation of regulations related to a financial advisor’s sales of private placement investments.
For retail investors, private placement investments can be very risky and raise some major concerns. The alternative investments in the private placement market offered to retail investors typically include not just market risk, but also risks related to potential financial fraud, illiquidity, sales practice abuses, deficient supervision, deficient due diligence, and various inaccuracies. Retail investors who have suffered damages and investment losses based on private placement investments can sometimes bring forth claims in FINRA arbitration through the office of dispute resolution against broker-dealer and financial advisors registered with FINRA.
Jeffrey R. Dixson (FINRA CRD #4166311). Also known as Jeff Dixson.
It is believed that Mr. Jeff Dixson sold GPB Capital investments to a number of his retail investor clients over the past several years. Mr. Dixon’s advertisements refer to him as the “retirement coach” where he notes that a wrong call at the wrong time can end in financial disaster. Mr. Dixson has hosted a radio show and supposedly has experience as a financial advisor assisting retail investor clients in planning for retirement.
According to FINRA Brokercheck, there is a November 2007 disclosure related to the State of Washington that resulted in a fine based on sales of a variable annuity to residents that was not approved and falsely represented that the annuity application was signed in Oregon. Another disclosure from February 2010 (that was closed without action) alleges that there were variable annuity recommendations that were supposedly misrepresented.
Also disclosed in Mr. Dixson’s FINRA Brokercheck is a September 2015 (matter that was settled) where a customer alleged a poor recommendation related to a variable annuity, failure to inform about specific product features such as access to funds and impact of withdrawals on account value. In April 2018 (in a matter that was closed) a customer alleged performance issues related to Gemini Fund V. In July 2018 (in a matter still pending) another customer alleged poor performance and supposed unsuitable investments.