Roman Sazonov, a financial advisor associated with Raymond James & Associates, Inc., is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm, following allegations of misconduct and mismanagement of client funds. 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 Sazonov’s actions.
According to a recent customer dispute filed on January 30, 2024, a client alleged that the funds purchased by Sazonov were not in accordance with their stated investment objectives. The complaint, which was denied by Raymond James & Associates, Inc., involved managed/wrap accounts (55%) and closed-end funds (45%). The client had requested damages amounting to $###,###, but the claim was ultimately settled for an undisclosed amount. Investors can view Sazonov’s CRD to learn more about his professional background and any previous disputes or disciplinary actions.
Haselkorn & Thibaut, with over 50 years of combined experience and a 98% success rate, is dedicated to helping investors recover losses through FINRA arbitration. The firm operates on a “No Recovery, No Fee” policy, ensuring that clients can seek justice without financial burden. Investors who believe they may have been victims of misconduct by Roman Sazonov or Raymond James & Associates, Inc. are encouraged to contact Haselkorn & Thibaut at their toll-free number, 1-888-885-7162 , for a free consultation.
Investment fraud and bad advice from financial advisors can have devastating consequences for investors. According to a Forbes article, the emotional and financial toll of investment fraud can be significant, with victims often experiencing feelings of shame, guilt, and betrayal. It is crucial for investors to be vigilant and to thoroughly research their financial advisors and the investments they recommend.
Understanding FINRA Rule 2111: Suitability
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The allegations against Roman Sazonov center around the violation of FINRA Rule 2111, known as the “Suitability” rule. This rule requires financial advisors to have a reasonable basis to believe that their investment recommendations are suitable for their clients, based on factors such as the client’s investment profile, risk tolerance, and financial goals.
In simple terms, advisors must ensure that the investments they recommend align with their clients’ stated objectives and risk tolerance. Failure to do so can result in significant losses for investors and constitutes a breach of the advisor’s fiduciary duty.
The Importance of Suitability for Investors
The suitability rule is a critical protection for investors, as it helps to ensure that their hard-earned money is invested in a manner that is appropriate for their unique financial situation. When advisors disregard this rule, investors can find themselves exposed to unnecessary risk and potentially devastating losses.
Investors who have suffered losses due to unsuitable investment recommendations may be able to recover their losses through FINRA arbitration. This process allows investors to seek compensation for damages caused by the misconduct of their financial advisors or brokerage firms.
Red Flags and Recovering Losses
Investors should be aware of several red flags that may indicate financial advisor malpractice, including:
- Investments that do not align with the client’s stated goals and risk tolerance
- Excessive trading or churning of client accounts to generate commissions
- Lack of diversification in the client’s portfolio
- Failure to disclose material risks associated with recommended investments
If you suspect that you have been a victim of financial advisor misconduct, it is crucial to act quickly to protect your rights and recover your losses. Contacting an experienced investment fraud law firm, such as Haselkorn & Thibaut, can help you navigate the complex process of FINRA arbitration and seek the compensation you deserve.
With their extensive experience, successful track record, and commitment to client service, Haselkorn & Thibaut is well-positioned to assist investors in holding financial advisors and brokerage firms accountable for their actions. By offering free consultations and working on a contingency basis, the firm aims to make the process of recovering losses as straightforward and stress-free as possible for their clients.
