Cadaret, Grant & Co., Inc. was founded in 1985 and is one of the largest privately owned independent broker/dealers in the country, servicing almost 900 financial advisors in branch offices nationwide. Cadaret, Grant is owned and managed by four senior officers located in Syracuse, New York, and Mount Arlington, New Jersey. Cadaret, Grant claims that it does not pressure its brokers to sell certain products, do business a specific way, or treat some clients differently than others. It does not offer its brokers bigger commission payouts, payouts for working with larger clients, selling particular products, or doing business with strategic partners. The company believes that it is able to operate in this fashion because it is privately owned and has no shareholders to answer to and no parent companies looking over its shoulder. Cadaret, Grant believes that its independence fosters an environment in which brokers will build investment portfolios based on clients’ objectives, not on the brokerage firms’.
Cadaret, Grant Ordered to Pay Customers $86,000
A FINRA arbitration panel ordered Berthel Fisher to pay an investor $86,000 to compensate them for damages that she suffered as a result of Cadaret’s and its broker’s improper conduct. The investors accused Cadaret and its broker of, among other things, unauthorized withdrawals, fraud, breach of fiduciary duty, negligence, and failure to supervise.
Cadaret, Grant Ordered to Pay Customers $464,000
A FINRA arbitration panel ordered Berthel Fisher to pay two investors $464,000 to compensate them for damages that they suffered as a result of Cadaret’s and its broker’s improper conduct. The investors accused Cadaret and its broker of violations of Florida’s investor protection statute, negligence, negligent supervision related to the purchase and sale of shares of a variety of stocks including, Parametric Technology, Analog Devices, BMC Software, Cadence Design Systems, Maxim Integrated Products, and Vitesse Semiconductor.
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