When it comes to safeguarding your hard-earned money, understanding the seriousness of investment allegations is crucial. In this article, we delve deep into a recent case involving a trustee and an advisor group, highlighting the red flags of investment fraud. As a seasoned investment fraud attorney with years of experience under my belt, I bring a unique perspective to this topic. By reading this article, you’ll gain a better understanding of how to protect your investments and what steps to take if you suspect fraud.
Unpacking the Allegation
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The trustee, represented legally, alleges unsuitability against the advisor group, Michael W Thompson and UBS FINANCIAL SERVICES INC. The main bone of contention is that the advisor group failed to act in the trustee’s best interest when managing her portfolio. The trustee further claims that the advisors did not implement an investment strategy that aligned with her goals. The allegation covers a time frame from March 1st, 2021 to March 28th, 2022, and the disputed amount is a staggering $1,000,000.00.
Spotting Investment Fraud Red Flags
Investment fraud can often be difficult to spot, but there are certain red flags to look out for. Here are a few:
- Unsuitability: This occurs when an advisor recommends investments that do not align with the client’s financial goals, risk tolerance, or financial situation. In this case, the trustee alleges that the advisors did not consider her best interest when managing her portfolio.
- Lack of a consistent investment strategy: A clear, defined investment strategy is crucial for successful investing. The trustee alleges that the advisors did not execute an investment strategy consistent with her goals.
- Customer disputes: Frequent customer disputes can be a sign of potential problems. In this case, the dispute is still pending.
Haselkorn & Thibaut: Your Ally in Investment Recovery
If you’re grappling with investment fraud allegations, you’re not alone. Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is committed to helping investors recover losses. With over 50 years of experience, a 98% success rate, and a “No Recovery, No Fee” policy, Haselkorn & Thibaut is currently investigating the advisor and company involved in this case.
Investors who have suffered losses can take advantage of their free consultation offer by calling 1-800-856-3352. It’s worth noting that FINRA Arbitration can also assist investors in recovering losses.
In conclusion, understanding the seriousness of investment fraud allegations and knowing how to spot the red flags can go a long way in protecting your investments. And if you ever find yourself on the receiving end of investment fraud, firms like Haselkorn & Thibaut are there to help you recover your losses.
