Gerard Bessette Allegedly Failed to Provide Full Disclosure to Client

Gerard Bessette (CRD #: 6275024), a broker registered with Fidelity Brokerage Services, was the subject of a recent dispute, according to his BrokerCheck record, accessed on February 7, 2023. Investors may have also worked with Gerard Bessette through Fidelity Personal and Workplace Advisors. Keep reading if you have questions about his alleged conduct as a broker.

Inverter Dispute

On October 5, 2022, an investor alleged that Gerard Bessette failed to provide appropriate disclosures when opening the client’s managed account. The client sought $350,000 in damages but this dispute was denied by the firm.

However, investors should know that firms don’t need to permit an outside review before denying a dispute. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Regulation Best Interest 

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor. Reg BI also features the “duty to disclose,” which is the requirement to disclose conflicts of interest. 

Background Information

Gerard Bessette has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Gerard Bessette is a registered broker in 25 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

• TD Ameritrade Investment Management (CRD#:111514)
• TD Ameritrade (CRD#:7870)
• Hornor, Townsend & Kent (CRD#:4031)
• CUSO Financial Services (CRD#:42132)
• AXA Advisors (CRD#:6627)

Kurta Law Can Help

If you worked with Gerard Bessette and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.