Joseph Smith Allegedly Violated His Contract

Joseph Smith (CRD #: 428137), a broker registered with Newbridge Securities Corporation in Boca Raton, Florida, is facing allegations that he violated his fiduciary duties, among other allegations. This disclosure appears in his BrokerCheck record, accessed on September 15, 2023. Keep reading if you have questions about his conduct. 

On August 4, 2023, an investor alleged that Joseph Smith violated state securities statutes and breached his contract. They further alleged he violated his fiduciary duty. 

What are State Securities Statutes? 

Blue sky laws are state securities regulations that provide investors with an extra layer of protection against fraud. They frequently also define what investments qualify as securities in the state.

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC, and RIAs are fiduciaries. Fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and RIAs, click here.) 

Background Information 

Joseph Smith has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• PC – AMEX Put and Call Exam 
• Series 1 Registered Representative Examination 

He is a registered investment adviser in eight states. 

Joseph Smith is registered with the following firms: 

• R.M. Stark & Co. (CRD #: 7612) 
• The Strategic Financial Alliance (CRD #: 126514) 
• Wachovia Securities (CRD #: 19616) 
• Wachovia Securities (CRD #: 431) 
• Smith Barney (CRD #: 7059) 
• Interstate/ Johnson Lane Corporation (CRD #: 431) 
• Johnson, Lane, Space, Smith & Co. (CRD #: 472) 
• E.F. Hutton & Company (CRD #: 235) 
• Bache & Co Incorporated (CRD #: 7058) 
• Kidder, Peabody & Co. Incorporated (CRD #: 488) 
• Clark, Dodge & Co. (CRD #: 161) 
• Legg Mason Wood Walker (CRD #: 6555) 
• F.S. Moseley & Co. (CRD #: 275) 

Kurta Law Can Help

If you worked with Joseph Smith and 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 that 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.