Deborah Jackman, a broker and investment advisor associated with UBS Financial Services Inc., is currently facing serious allegations of financial exploitation, undue influence, and embezzlement. The case, brought forth by the stepson and successor personal representative of his stepmother’s estate, has significant implications for investors who have entrusted their assets to Jackman and UBS Financial Services Inc.
According to the complaint, Jackman allegedly exerted undue influence over the decedent, embezzled and alienated the decedent’s property, and financially exploited the decedent. These allegations, if proven true, represent a grave breach of trust and fiduciary duty on the part of Jackman and raise concerns about the oversight and management practices at UBS Financial Services Inc.
Investors who have worked with Deborah Jackman or UBS Financial Services Inc. may be at risk of financial losses due to potential misconduct. It is crucial for these investors to closely monitor their accounts, review their investment portfolios, and seek legal counsel if they suspect any irregularities or unauthorized activities. Investment fraud and bad advice from financial advisors can have devastating consequences for investors, as highlighted by cases like this one.
Understanding the Allegations and FINRA Rules
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The allegations against Deborah Jackman involve several serious violations of industry standards and regulations. Undue influence occurs when an advisor uses their position of trust and authority to pressure or coerce a client into making financial decisions that benefit the advisor rather than the client. Embezzlement involves the theft or misappropriation of client funds for personal gain. Financial exploitation, particularly of elderly or vulnerable clients, is a growing concern in the financial industry.
The Financial Industry Regulatory Authority (FINRA) has established rules and guidelines to protect investors from misconduct and ensure that financial advisors act in their clients’ best interests. FINRA Rule 2150 prohibits the improper use of client funds or securities, while FINRA Rule 3240 addresses the issue of borrowing money from or lending money to clients. Additionally, FINRA Rule 2165 provides a framework for protecting senior and vulnerable adult investors from financial exploitation.
The Importance of Investor Awareness and Protection
Cases like the one involving Deborah Jackman underscore the importance of investor awareness and protection. Investors must remain vigilant and proactive in monitoring their investments and the activities of their financial advisors. Some key steps investors can take include:
- Regularly reviewing account statements and transaction records
- Questioning any suspicious or unauthorized transactions
- Maintaining open communication with their financial advisor and seeking clarification on investment strategies and decisions
- Diversifying their investment portfolio to minimize risk
- Staying informed about industry regulations and best practices
By staying engaged and informed, investors can better protect themselves from potential misconduct and financial losses.
Red Flags and Recovering Losses through FINRA Arbitration
Investors should be aware of red flags that may indicate financial advisor malpractice or misconduct. These warning signs include:
- Unauthorized or excessive trading in client accounts
- Lack of transparency or reluctance to provide clear explanations for investment decisions
- Pressure to make quick or unsolicited investment decisions
- Promises of guaranteed returns or unrealistic investment outcomes
- Inconsistencies between verbal communications and written documentation
If investors suspect that they have been the victim of financial advisor misconduct, they may be able to recover their losses through FINRA arbitration. FINRA arbitration is a dispute resolution process that allows investors to seek compensation for losses caused by the improper conduct of financial advisors and brokerage firms.
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Deborah Jackman and UBS Financial Services Inc. The firm has over 50 years of experience and a 98% success rate in helping investors recover losses through FINRA arbitration. They offer free consultations and work on a contingency basis, meaning there are no fees unless a recovery is secured.
Investors who have suffered losses due to the alleged misconduct of Deborah Jackman or UBS Financial Services Inc. are encouraged to contact Haselkorn & Thibaut at 1-888-885-7162 for a free consultation and to explore their legal options.
