Gates was discharged from his previous firm, Joseph Gunnar & Co., in January 2020.
Matthew Gates (CRD#: 4727945) is registered as a broker with Primary Capital Management, where he has been employed since September 2021. Previously, Gates was registered as a broker with Joseph Gunnar & Co. from 2016 until 2020.
Gates has five disclosures on his BrokerCheck report. One customer dispute filed against Gates was denied.
July 2021 Customer Dispute
- Status: Pending
- Allegations: Approximately six years after the fact, customers allege an investment was unsuitable.
- Damage Amount Requested: $166,000.00
January 2020 Employment Separation After Allegations
- Firm Name: Joseph Gunnar & Co., LLC
- Termination Type: Discharged
- Allegations: Rep removed confidential client information in violation of company policy and SEC regulations.
- Broker Comment: Mr. Gates adamantly denies the allegations brought forth from Joseph Gunnar and Co. Counterclaims for specious litigation are being explored and Mr. Gate intends to seek to expunge this from his CRD record. Mr. Gates will also be seeking litigation against Joseph Gunnar and Co. for damages regarding these claims. Mr. Gates is confident he will be able to prove these allegations were nothing more than a viciously calculated attempt from Joseph Gunnar to retain his clients at the firm, by use of these false accusations to deter clients from following him to his new Firm.
August 2019 Customer Dispute
- Status: Settled
- Allegations: Alleged misrepresentation by the broker regarding the liquidity of a private placement. August 2014 to August 2019
- Damage Amount Requested: $100,000.00
- Settlement Amount: $30,000.00
- Broker Comment: Mr. Gates denies all allegations and intends to vigorously defend all claims. A client had emailed the firm about potential liquidity options for a private investment he participated in. The client was made aware of the risks of private placements, and signed documents attesting to this. Upon receipt of the email, the situation was passed to Stephen Stein from Joseph Gunnar. As President of the Private Equity Fund, Stephen Stein waited until the last hour window of reporting the complaint to address the situation which the result was a mark on Mr. Gates U4. Mr. Gates was given no chance to defend himself in the matter and is currently in the process of attempting to have this removed from his U4. Furthermore as an advisor of Joseph Gunnar, Mr. Gates went to compliance every time the client had a question and continued to be told that Stephen Stein was handling it. Then in the final hour, they as a firm decided to mark Mr. Gates U4 on something that was completely out of his control. Why were there no other reps named on the complaint that participated in the commissions, why were Stephen Stein and Joseph Alagna, chairman and co-chairman, not named on this when they were the ones supposedly handling the situation will be explored. In summary the client was offered a lateral sale out of the private position by Stephen Stein and the client said he was going to think it over. Mr. Gates questions the merits of the complaint and why he was the only one marked on his U4.
April 2013 Customer Dispute
- Status: Settled
- Allegations: Allegation period 4/12/2010 through 10/27/2011; Breach of fiduciary duty, negligence, negligent supervision and negligent misrepresentation.
- Damage Amount Requested: $268,890.32
- Settlement Amount: $40,000.00
- Broker Comment: This matter was settled to avoid further costs of litigation including legal costs, air travel, hotel arrangements and time spent out of the office.
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The Sonn Law Group is currently investigating allegations surrounding Matthew Gates. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.