Sigma Financial Corporation

Sigma Financial Corporation established in 1983. The following year, Sigma Planning Corporation (SPC) was formed to function as an SEC-registered investment advisor. Originally intended as a means of providing Sigma representatives with fee-based planning opportunities, the firm currently offers numerous money management services, allowing brokers to compete in the rapidly growing fee-based money management business. Sigman remains one of the few remaining truly independent firms within an industry characterized by mergers, acquisitions and mega-corporations. Over the years, Sigma has steadfastly rejected acquisition offers, preferring to remain autonomous and self-directed. In 2001, the firm entered into a joint venture with Midland National Life Insurance to form a captive broker-dealer (Sammons Securities) that would service Midland National Life agents. Sigma currently has approximately 500 brokers.

Sigma Financial Ordered to Pay Customer $92,000

An NASD arbitration panel ordered Sigma Financial to pay two investors $92,000 to compensate them for damages that they suffered as a result of Sigma’s misconduct. Claimants asserted the following causes of action: unsuitability, misrepresentation, negligence, breach of fiduciary duty, churning, and failure to supervise.

Sigma Financial Settles Claim for $140,000

Sigma Financial agreed to pay an investor $140,000 to settle claims brought by a client. Claimant asserted the following causes of action: 1) violations of federal securities laws,
particularly Section 17a of the Securities Act of 1933, 15 U.S.C. Section 77(q), Section
10(b) of the Securities Exchange Act of 1934, 15 U.S.C. Section 78(j)(b) and Rule 10(b)-5
of the Securities and Exchange Commission; 2) violations of Chapter 517, Florida Statutes;
3) violations of rules and regulations of the NASD; 4) negligence; 5) breach of fiduciary
duty; 6) breach of contract; and 7) fraud.

If you suffered investment losses, please contact us or communicate with a Dimond Kaplan & Rothstein, P.A. attorney at 888-578-6255 or jkaplan@dkrpa.com for a free case evaluation.