Sterne, Agee & Leach, Inc.
The Trust Company of Sterne Agee, Inc., Sterne Agee Asset Management, Inc., Sterne Agee Financial Services, Inc.
The Sterne Agee family of companies is headquartered in Birmingham, Alabama and includes (1) a full-service brokerage firm providing investment services to individuals, corporations, municipalities; (2) an investment management, estate planning, trust, and retirement plan services subsidiary; (3) professional fee-based discretionary asset management services; and (4) a broker-dealer that serves independent brokers. The company’s history dates back to 1901. Sterne Agee professes to place its clients’ interests ahead of Sterne Agee’s interests.
Sterne Agee Financial Services, Inc. Ordered to Pay Customer $175,000
An NASD arbitration panel ordered Sterne Agee Financial Services, Inc. to pay an investor $175,000 to compensate him for damages that he suffered as a result of Sterne Agee’s and its broker’s improper conduct. The investor accused Sterne Agee and its broker of, among other things, unsuitability; omissions; negligence; gross negligence; respondeat superior; control person liability; negligent supervision; breach of fiduciary duty pursuant to Florida Statutes; and, fraud. The causes of action relate to the purchase of shares of Madison Hedge Group, LLC
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