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Investor Seeks Six Figures in Dispute with Gary Benson

Jan 17, 2023 Unsuitable Investments

Gary Benson (CRD #: 1182211), a broker registered with Independent Financial Group, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on January 10, 2023. Investors may have also worked with him through Pash & Benson International. If you have questions about his alleged conduct as a broker, keep reading.

Investor Disputes

On October 13, 2022, an investor alleged that Gary Benson recommended an unsuitable investment product. The client seeks $200,000 in this pending dispute.

In a dispute filed on April 13, 2022, an investor alleged that Gary Benson provided them with inaccurate minimum income figures for one of their annuities. The client sought $5,500 in damages and received a settlement of $142,500.

Three other disputes, filed from 2012-2014, made claims relating to unsuitable investment recommendations, conversion, and other allegations of misconduct.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which contains information about their tax status, risk tolerance, and age.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deception, manipulation, or other unethical tactics to influence the purchase or sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2150

FINRA Rule 2150 prohibits the misappropriation or otherwise improper use of clients’ funds.

Background Information

Gary Benson has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Gary Benson is a registered broker in 27 states and a registered investment adviser in California.

He has also worked for the following firms:

  • NPB Financial Group (CRD#:137743)
  • National Planning Corporation (CRD#:29604)
  • Associated Securities Corporation (CRD#:12969)
  • Mutual Benefit Financial Service Company (CRD#:4882)

Kurta Law Can Help

If you worked with Gary Benson and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.