Haselkorn & Thibaut, P. A., is investigating potential sales practice and supervision issues related to a former financial advisor, Brian Engstrom who was previously with Oppenheimer & Co., Inc. (2002-2016) and with Stifel, Nicolaus & Company (2016-2020) in Tampa, FL.
The attorneys of Haselkorn & Thibaut have been investigating potential sales practice and supervision issues relating to Brian Engstrom as well as other current and former financial advisors with Oppenheimer & Co. in the Tampa, FL office as well as the Fort Lauderdale, FL office. The experienced team at Haselkorn & Thibaut, P.A. represents investors nationwide in pursuing private Financial Industry Regulatory Authority (FINRA) customer disputes and helping clients recover their investment losses.
FINRA Complaints Against Brian Engstrom
According to FINRA Brokercheck and a recent report in Advisorhub.com, Brian Engstrom (CRD #1838926) has recently agreed to a three-month suspension from the securities industry and a $5,000.00 fine related to allegations that he had encouraged clients to excessively trading unit investment trusts (UITs). Mr. Engstrom did not admit or deny the allegations. Mr. Engstrom was permitted to resign from Oppenheimer & Co. in October 2016.
UIT investments typically carry sales charges of around 4% (including initial and deferred charges, as well as a product development fee) and premature rollovers can add a 2.95% sales charge for each switch, which is why UITs are generally meant to be held for 24 months.
Financial advisors and the firms they work for that supervise the approval and sale of products such as UITs (including Oppenheimer & Co., Inc. and Stifel, Nicolaus & Company, Incorporated have a responsibility to treat investors fairly which includes making only suitable investment recommendations and properly supervising the financial advisor as well as the transaction and account activity taking place in its offices and on its books and records.
What to do if you have knowledge regarding Brian Engstrom?
Haselkorn & Thibaut, P.A. is investigating these issues and if you are a current or former client of Brian Engstrom, Oppenheimer & Co., Inc. or Stifel Nicolaus & Company with knowledge regarding any of the issues related to any sales practice or supervision issues involved in the handling of your investment accounts, please contact our offices.
Haselkorn & Thibaut, P.A. is an investment fraud law firm that specializes in representing investor clients in investment fraud matters and FINRA arbitration cases nationwide. The two name partners have over 45 years of combined legal experience representing investors (both individual and institutional investors) seeking to aggressively pursue their claims and maximizing client recoveries of investment losses for victims of negligence or investment fraud.
For investors faced with investment losses, a FINRA Dispute Resolution customer dispute may be the way to go if you want to recover your losses in a private, confidential, and efficient alternative (compared to state or federal court litigation). One of the best decisions you can make in this process is to consider having experienced securities arbitration attorneys by your side, to help you maximize your potential recovery of investment losses.
The securities arbitration attorneys at Haselkorn & Thibaut, P.A. (InvestmentFraudLawyers.com) can help you from start to finish in this process. This FINRA Dispute process is a private arbitration process between you and your brokerage firm. There are typically no depositions, and the process is intended to be a faster, more efficient and less expensive alternative to court litigation.
The sole purpose of this notice is to investigate the manner in which Brian Engstrom, Oppenheimer & Co., Inc. or Stifel Nicolaus & Company handled investment recommendations and transactions with investors as well as the supervision of the same. If you have any knowledge or experience with these matters, please contact Haselkorn & Thibaut, P. A. at www.investfraudlawyers.com or call 1-888-628-5590.