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Time Frame: December 1, 2016 to May 30, 2017
The client's husband who has authority alleges the investments did not meet his wife's risk tolerance profile, understanding the investment and that she comes from a minimal investment experience. The client's husband further alleges that the Financial Advisors did not discuss a particular investment with her. The client's husband finally alleges unauthorized trading.
Damage Amount Requested
$139,000.00
Settlement Amount
$45,000.00
Broker Comment
I strenuously deny the claims asserted. The client's investments were suitable at all times and were authorized by one or both account owners. The client's own market opinion directly influenced the asset allocation of their portfolio.
10/22/2012
Customer Dispute
Settled
Allegations
CLAIMANTS ALLEGE LOSSES DUE TO UNSUITABILITY OF A VARIABLE ANNUITY PURCHASED THROUGH UBS. TIME FRAME: 2008
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.