Recent allegations have surfaced against Christopher Sivley, a Registered Representative with Truist Investment Services, Inc., claiming that he provided poor market and investment advice, resulting in losses exceeding $200,000 for a client. The customer dispute, filed on January 9, 2024, is currently pending resolution and involves equity listed products, including common and preferred stock.
Christopher Sivley (CRD #3070468) has been associated with Truist Investment Services, Inc. (CRD #17499) in Florida since March 4, 2020, and is currently registered as both a broker and an investment advisor. Haselkorn & Thibaut, a national investment fraud law firm, is currently investigating the firm and the advisor in connection with these allegations.
Understanding the Allegations and FINRA Rules
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The client’s complaint revolves around the quality of market and investment advice provided by Christopher Sivley. As a registered representative, he has a duty to offer suitable recommendations and advice to his clients. FINRA Rule 2111, known as the “Suitability Rule,” requires brokers to have a reasonable basis to believe that their recommendations are appropriate for their clients’ financial situation, investment objectives, and risk tolerance. According to Investopedia, investment fraud can occur when a financial advisor provides misleading or false information to influence an investor’s decision.
If the allegations are proven true, Christopher Sivley and Truist Investment Services, Inc. could face consequences, including fines, sanctions, and potentially compensating the client for their losses.
The Importance for Investors
This case underscores the importance of working with trustworthy and competent financial advisors. Investors rely on their advisors’ expertise and advice to make informed decisions about their investments. When an advisor fails to provide suitable recommendations or offers poor advice, it can have devastating financial consequences for the investor.
Investors should regularly review their investment portfolios and discuss any concerns they have with their advisors. If they suspect that their advisor has provided inappropriate advice or acted in a way that has caused significant losses, they should consider seeking legal counsel to protect their rights and potentially recover their losses.
Red Flags and Recovering Losses
Some red flags that may indicate financial advisor malpractice include:
- Recommendations that consistently underperform the market
- Lack of diversification in the investment portfolio
- Excessive trading or churning of accounts to generate commissions
- Failure to disclose material information about investments
If investors suspect malpractice, they should document their interactions with their advisor, gather relevant account statements and communications, and consult with an experienced investment fraud attorney. FINRA arbitration is a common avenue for investors to recover losses caused by advisor misconduct.
Haselkorn & Thibaut, with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Christopher Sivley and Truist Investment Services, Inc. They offer free consultations to clients and work on a contingency basis, meaning they do not collect a fee unless they successfully recover funds for their clients. With over 50 years of combined experience and a 98% success rate, Haselkorn & Thibaut has a proven track record of helping investors recover losses caused by financial advisor malpractice. Investors can contact them toll-free at 1-888-628-5590.
