Joseph Smith Jr.: Newbridge Advisor Lands $100K-$500K Complaint

Boca Raton, Florida financial advisor Joseph Smith Jr. (CRD# 428137) recently received an investor complaint alleging damages as high as $500,000. Financial Industry Regulatory Authority records show that he is a broker with Newbridge Securities Corporation, having previously been registered with RM Stark & Company and The Strategic Financial Alliance.

Mr. Smith’s BrokerCheck report discloses one investor complaint. Filed in August 2023, it alleges that as a representative of Newbridge Securities Corporation, he breached contract, violated state securities statutes, breached his fiduciary duty, and committed common law fraud. The pending complaint alleges damages between $100,000 and $500,000.

The SEC’s fiduciary standard stipulates that financial advisors must place their clients’ interests above their own, fully disclose conflicts of interest, and act in good faith and with loyalty to the customer. The fiduciary duty is similar to but ultimately distinct from the suitability standard that applies to brokers, requiring them to recommend investments in line with a customer’s background and objectives, based on reasonable diligence into the customer’s profile. Representatives who breach their fiduciary duty may be found liable for damages.

According to the Financial Industry Regulatory Authority, Joseph Smith Jr. holds 54 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker with Newbridge Securities Corporation since 2017. His past registrations include RM Stark & Company (Lake Worth Beach, Florida; 2014-2017), The Strategic Financial Alliance (Citra, Florida; 2007-2014), Wachovia Securities (Reddick, Florida; 2002-2007 and Charlotte, North Carolina; 1994-2002), Smith Barney (New York, New York; 1989-1994), Interstate/Johnson Lane Corporation (1988-1989), Johnson Lane Space Smith & Company (1987-1988), EF Hutton & Company (1976-1987), Bache & Company (1974-1976), Kidder Peabody & Company (1974), Clarke Dodge & Company (1973-1974), Legg Mason Wood Walker (1972-1973), FS Mosely & Company (1969-1972). His credentials include the passage of six securities industry qualifying exams: the Registered Representative Examination, or Series 1; the AMEX Put and Call Exam, or PC; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Florida, Georgia, Indiana, Massachusetts, New Jersey, New York, and Washington. (Information current as of September 4, 2023.)

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