John Saunders, a financial advisor with UBS Financial Services Inc., is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm, for alleged misconduct involving unauthorized stock sales and failure to follow client instructions. The firm, with offices in Florida, New York, North Carolina, Arizona, and Texas, is offering free consultations to clients who may have suffered losses due to Saunders’ actions.
Allegations Against John Saunders
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According to a recent customer dispute filed with the Financial Industry Regulatory Authority (FINRA), John Saunders allegedly conducted unauthorized stock sales and failed to follow the instructions of a co-trustee client between January 3rd, 2023, and December 29th, 2023. The co-trustee claims that Saunders did not request her authorization for certain stock sales and did not adhere to her wishes regarding the management of the trust account.
FINRA Rules and Regulations
FINRA, the self-regulatory organization overseeing broker-dealers in the United States, has strict rules in place to protect investors from unauthorized transactions and ensure that financial advisors act in their clients’ best interests. FINRA Rule 2010 requires brokers to observe high standards of commercial honor and just and equitable principles of trade, while FINRA Rule 2150 prohibits brokers from making unauthorized transactions in a customer’s account.
By allegedly conducting unauthorized stock sales and disregarding client instructions, John Saunders may have violated these FINRA rules, putting his clients’ investments at risk and breaching the trust placed in him as a financial advisor. According to a study by Forbes, Americans lose billions of dollars each year due to investment fraud and bad advice from financial advisors.
The Impact on Investors
Unauthorized transactions and failure to follow client instructions can have severe consequences for investors, potentially leading to significant financial losses. When a financial advisor acts without proper authorization or disregards a client’s wishes, it undermines the client’s control over their investments and exposes them to undue risk.
Investors who have entrusted their assets to John Saunders or UBS Financial Services Inc. may have suffered losses due to his alleged misconduct. It is crucial for affected investors to seek legal guidance to protect their rights and explore options for recovering their losses.
Red Flags and Recovering Losses
Investors should be vigilant for red flags that may indicate financial advisor malpractice, such as:
- Unauthorized transactions in their accounts
- Failure to follow explicit instructions
- Lack of communication or transparency from the advisor
- Unexplained or inconsistent account performance
If investors suspect that they have been victims of misconduct by John Saunders or any other financial advisor, they should contact a qualified investment fraud attorney to discuss their legal options. Haselkorn & Thibaut, with over 50 years of combined experience and a 98% success rate, has helped numerous investors recover their losses through FINRA arbitration.
Seeking Justice Through FINRA Arbitration
FINRA arbitration provides a forum for investors to seek justice and recover losses caused by financial advisor misconduct. By filing a claim with FINRA, investors can have their case heard by a panel of impartial arbitrators who have the authority to award damages if wrongdoing is found.
Haselkorn & Thibaut is dedicated to helping investors navigate the FINRA arbitration process and fight for the compensation they deserve. The firm operates on a contingency basis, meaning they charge no fees unless they successfully recover losses for their clients.
Investors who have suffered losses due to the alleged misconduct of John Saunders or any other financial advisor at UBS Financial Services Inc. are encouraged to contact Haselkorn & Thibaut for a free consultation by calling their toll-free number at 1-888-885-7162 .
