Anthony Mesquit, a broker with Fidelity Brokerage Services LLC, is facing a serious allegation from a customer who claims to have received incorrect information before agreeing to a managed account solution. The pending customer dispute, filed on March 14, 2024, has the potential to significantly impact investors who have entrusted their assets to Mesquit and Fidelity Brokerage Services LLC.
As an investor, it is crucial to understand the gravity of this allegation and the potential consequences it may have on your investments. Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Anthony Mesquit and Fidelity Brokerage Services LLC to determine the extent of the alleged misconduct and its impact on investors.
Investment fraud and bad advice from financial advisors are unfortunately common occurrences. According to a Forbes article, the U.S. Securities and Exchange Commission (SEC) estimates that fraudulent investment schemes cost investors billions of dollars each year.
Understanding the Allegation and FINRA Rules
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The customer dispute against Anthony Mesquit revolves around the claim that the customer received incorrect information before agreeing to a managed account solution. In simple terms, this means that the customer believes they were misled or misinformed about the nature, risks, or performance of the managed account prior to investing.
FINRA, the Financial Industry Regulatory Authority, has specific rules in place to protect investors from such misconduct. FINRA Rule 2111 requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s investment profile. This profile includes factors such as the customer’s age, financial situation, investment experience, and risk tolerance.
The Importance for Investors
The allegation against Anthony Mesquit and Fidelity Brokerage Services LLC is significant for investors because it raises questions about the integrity and reliability of the information provided by the broker and the firm. If the allegation is proven true, it means that investors may have made investment decisions based on incorrect or misleading information, potentially leading to financial losses.
Moreover, this case highlights the importance of thoroughly researching and vetting financial advisors and firms before entrusting them with your hard-earned money. It is essential to review an advisor’s background, disciplinary history, and qualifications to ensure they have a track record of providing accurate and suitable investment advice.
Red Flags and Recovering Losses
Investors should be aware of red flags that may indicate financial advisor malpractice, such as:
- Providing incorrect or misleading information about investments
- Recommending unsuitable investments based on the investor’s profile
- Failing to disclose material risks associated with an investment
- Engaging in unauthorized trading or excessive trading to generate commissions
If you suspect that you have been a victim of financial advisor malpractice, it is crucial to seek legal guidance from experienced investment fraud attorneys. Haselkorn & Thibaut offers free consultations to help investors assess their case and explore options for recovering losses through FINRA arbitration.
With over 50 years of combined experience and an impressive 98% success rate, Haselkorn & Thibaut has a proven track record of securing successful financial recoveries for investors. Their “No Recovery, No Fee” policy ensures that clients can seek justice without upfront costs.
To schedule a free consultation with Haselkorn & Thibaut, call their toll-free number at 1-888-885-7162 .
As the investigation into Anthony Mesquit and Fidelity Brokerage Services LLC unfolds, it serves as a reminder for investors to remain vigilant, thoroughly research their financial advisors, and promptly seek legal assistance if they suspect misconduct. By staying informed and taking action, investors can protect their financial future and hold wrongdoers accountable.
