Investors are urged to take note of a serious allegation against Andrew Pesner, currently a broker with VCS Venture Securities, LLC. The allegation involves a customer dispute that is currently pending, with the claimant alleging suitability, negligence, and lost opportunity. The claimant is seeking damages of $295,531.50. The claim was filed on 9/5/2023 and is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas.
Allegation’s Seriousness and Case Information
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Andrew Pesner has been associated with VCS Venture Securities (CRD 127921) since 09/10/2021. Prior to that, he was associated with Joseph Stone Capital, LLC. The current allegation against him is serious and pertains to a customer dispute filed on 9/5/2023. The claimant alleges suitability, negligence, and lost opportunity, seeking damages of $295,531.50.
This case, identified by the FINRA case number 23-02337N10NN, is currently pending and under investigation. Investors can verify this information through the BrokerCheck service provided by FINRA.
Explanation in Simple Terms and the FINRA Rule
Suitability refers to the obligation of brokers to recommend investments that are appropriate for their clients, taking into account factors such as the client’s financial situation, investment objectives, and risk tolerance. Negligence, in this context, refers to the failure of the broker to exercise the appropriate level of care in managing the client’s investments. Lost opportunity refers to the potential gains that the client could have made if the broker had not acted negligently or unsuitably.
These allegations are serious and, if proven, could be violations of FINRA Rule 2111 (Suitability) and Rule 2010 (Standards of Commercial Honor and Principles of Trade). These rules require brokers to act in the best interest of their clients and to uphold high standards of commercial honor and just and equitable principles of trade.
Why It Matters for Investors
Investors entrust their hard-earned money to brokers and investment advisors with the expectation that these professionals will act in their best interest. When a broker fails to meet these standards, investors can suffer significant financial losses. These allegations, if proven, could indicate a pattern of behavior that is detrimental to investors.
It is crucial for investors to be aware of such allegations and to take action if they believe they have been a victim of such practices. Investors can potentially recover their losses through FINRA arbitration, a dispute resolution process that is faster and less formal than court litigation. Haselkorn & Thibaut, with over 50 years of experience and a 98% success rate, specializes in helping investors recover losses through FINRA arbitration.
Red Flags for Financial Advisor Malpractice and How Investors Can Recover Losses
Investors should be aware of the red flags that may indicate financial advisor malpractice. These can include frequent and unnecessary trades, investments that do not align with the investor’s goals or risk tolerance, and a lack of communication or transparency from the advisor.
If investors suspect malpractice, they should consider seeking legal advice. Haselkorn & Thibaut offer free consultations to clients and operate on a “No Recovery, No Fee” policy. Investors can reach them at their toll-free consultation number, 1-800-856-3352.
Through FINRA arbitration, investors can potentially recover their losses. This process involves presenting the case to a panel of arbitrators who will make a binding decision. Haselkorn & Thibaut have a strong track record in FINRA arbitration, with a success rate of 98%.
Investors should be proactive in protecting their investments and should not hesitate to seek legal advice if they suspect malpractice. Remember, the first consultation with Haselkorn & Thibaut is free, and they operate on a “No Recovery, No Fee” policy.
