SAGEPOINT FINANCIAL, INC.

Voluntary Resignation

Without admitting or denying the findings, Bowman consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of early rollovers of unit investment trusts (UITs). The findings stated that, on certain occasions, Bowman recommended that his customers roll over a UIT before its maturity date to purchase a subsequent series of the same UIT that generally had the same or similar investment objectives and strategies as the prior series. The allegations state that Bowman's recommendations caused his customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions. The allegations state that Bowman's customers received reimbursement of these excess sales charges from his member firm in connection with FINRA's separate settlement with the firm.

FINRA

Without admitting or denying the findings, Bowman consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of early rollovers of unit investment trusts (UITs). The findings stated that, on certain occasions, Bowman recommended that his customers roll over a UIT before its maturity date to purchase a subsequent series of the same UIT that generally had the same or similar investment objectives and strategies as the prior series. Bowman's recommendations caused his customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions. Bowman's customers received reimbursement of these excess sales charges from his member firm in connection with FINRA's separate settlement with the firm.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$10,000.00

Suspension

All Capacities

Three Months

8/2/2021

11/1/2021