John Lord and Dempsey Lord Smith, LLC are currently under investigation by Haselkorn & Thibaut, P.A., a national investment fraud law firm, for alleged misconduct related to the sale of direct investments in DPP & LP interests. The pending customer dispute, filed on March 28, 2024, alleges rescission, breach of written contract pursuant to the customer agreements, breach of fiduciary duty, negligence, misrepresentations, and omissions.
The seriousness of these allegations cannot be overstated, as they have the potential to significantly impact investors who have entrusted their financial well-being to John Lord and Dempsey Lord Smith, LLC. As an investor, it is crucial to stay informed about any developments in this case and to understand your rights should you find yourself affected by the alleged misconduct.
According to a Forbes article, investment fraud and bad advice from financial advisors are unfortunately common occurrences. In fact, the Federal Trade Commission (FTC) reported that Americans lost over $3.3 billion to fraud in 2020 alone, with investment fraud being one of the most prevalent forms of financial deception.
Understanding the allegations and their implications
Table of Contents
The allegations against John Lord and Dempsey Lord Smith, LLC are wide-ranging and include some of the most serious offenses in the financial industry. Rescission, for example, refers to the unwinding of a transaction due to material misrepresentation or omission. In simpler terms, this means that investors may have been misled or not provided with all the necessary information when making their investment decisions.
Breach of written contract and breach of fiduciary duty are equally concerning, as they suggest that John Lord and Dempsey Lord Smith, LLC may have failed to uphold their contractual and ethical obligations to their clients. Negligence, misrepresentations, and omissions further underscore the potential for investors to have been harmed by the actions of their trusted financial professionals.
FINRA rules and investor protection
The Financial Industry Regulatory Authority (FINRA) is responsible for overseeing the conduct of financial advisors and firms. FINRA Rule 2111, known as the “Suitability Rule,” requires that financial advisors recommend investments that are suitable for their clients based on factors such as age, financial situation, and risk tolerance. Violations of this rule can result in disciplinary action and provide grounds for investors to seek recovery of their losses.
Investors can check the background and disciplinary history of their financial advisors by accessing their FINRA BrokerCheck report. John Lord‘s CRD number is 1352023, which can be used to review his professional history and any past disclosures or regulatory actions.
The importance of investor vigilance
The ongoing investigation into John Lord and Dempsey Lord Smith, LLC serves as a stark reminder of the importance of investor vigilance. It is essential for investors to thoroughly research their financial advisors, understand the products they are investing in, and regularly monitor their investments for any red flags or inconsistencies.
If you have invested with John Lord or Dempsey Lord Smith, LLC and have concerns about your investments or the conduct of your financial advisor, it is crucial to seek the guidance of experienced legal professionals who can help you understand your rights and options for recovery.
Protecting your investments: red flags and seeking help
Investors should be aware of potential red flags that may indicate financial advisor misconduct, such as:
- Unexplained or inconsistent investment performance
- Lack of transparency or communication from your advisor
- Unauthorized trades or excessive trading activity in your account
- Pressure to invest in unsuitable or high-risk products
If you suspect that you have been a victim of investment fraud or misconduct, it is essential to act quickly to protect your rights and explore your options for recovery. Haselkorn & Thibaut, P.A. is a national investment fraud law firm with over 50 years of combined experience and a 98% success rate in helping investors recover their losses through FINRA arbitration.
With offices in Florida, New York, North Carolina, Arizona, and Texas, Haselkorn & Thibaut, P.A. offers free consultations to investors who may have been affected by the alleged misconduct of John Lord and Dempsey Lord Smith, LLC. Their experienced attorneys work on a contingency basis, meaning that there are no fees unless they successfully recover your losses.
To schedule your free consultation and discuss your legal options, call Haselkorn & Thibaut, P.A. toll-free at 1-888-885-7162 .
As the investigation into John Lord and Dempsey Lord Smith, LLC unfolds, it is crucial for investors to remain informed, vigilant, and proactive in protecting their financial well-being. By understanding the seriousness of the allegations, recognizing potential red flags, and seeking the guidance of experienced legal professionals, investors can take steps to safeguard their investments and recover any losses stemming from financial advisor misconduct.
