Haselkorn & Thibaut, a national investment fraud law firm, has opened an investigation into UBS Financial Services Inc. broker Elizabeth Ann Fitzwater, who operates from the Cincinnati, Ohio branch. If you’ve experienced investment losses or have concerns about your accounts managed by Ms. Fitzwater, understanding her regulatory history and complaint record is crucial for protecting your financial interests.
Understanding Elizabeth Fitzwater’s Professional Background
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Elizabeth Ann Fitzwater has been a registered representative with UBS Financial Services Inc. since April 30, 2010, working from their Cincinnati branch located at 8044 Montgomery Rd., Suite 10. With over 14 years at the same firm, she has established a long-standing presence in the Cincinnati financial advisory community.
However, longevity in the industry doesn’t always equate to a clean regulatory record. Our investigation reveals concerning patterns in Ms. Fitzwater’s professional history that investors should carefully consider.
Critical Red Flags in Fitzwater’s Regulatory Record
A thorough review of Ms. Fitzwater’s BrokerCheck record reveals multiple customer complaints and regulatory actions that raise significant concerns:
Customer Complaint History
Ms. Fitzwater’s record shows three formal customer complaints, each involving substantial alleged damages:
| Date Filed | Alleged Damages | Status | Key Allegations |
|---|---|---|---|
| 03/28/2024 | $213,000 | Pending | Unsuitable investments, breach of fiduciary duty |
| 02/14/2023 | $100,000 | Pending | Unauthorized trading, misrepresentation |
| 12/03/2020 | $300,000 | Denied | Breach of fiduciary duty, failure to supervise |
The total alleged damages across these complaints exceed $600,000, representing potentially significant investor harm. While one complaint was denied, two remain pending, suggesting ongoing concerns about Ms. Fitzwater’s investment practices.
Regulatory Actions
Beyond customer complaints, Ms. Fitzwater’s record includes one regulatory action from FINRA (Financial Industry Regulatory Authority). This regulatory scrutiny adds another layer of concern for investors evaluating their relationship with this advisor.
Why These Red Flags Matter to Your Investments
Understanding why these complaints represent serious concerns can help you evaluate your own investment situation:
- Unsuitable Investment Recommendations: When advisors recommend investments that don’t align with your risk tolerance, investment objectives, or financial situation, you may suffer unnecessary losses.
- Breach of Fiduciary Duty: Financial advisors have a legal obligation to act in your best interests. Violations of this duty can result in conflicted advice and financial harm.
- Unauthorized Trading: Making trades without proper authorization violates industry rules and can expose your portfolio to unwanted risks.
- Misrepresentation: Providing false or misleading information about investments prevents you from making informed decisions about your financial future.
Recognizing Warning Signs in Your Own Accounts
If Ms. Fitzwater manages your investments, watch for these potential warning signs:
- Unexpected losses in your portfolio that don’t align with market conditions
- Investments that seem too risky for your stated goals and risk tolerance
- Trades you don’t remember authorizing appearing on your statements
- Difficulty getting clear explanations about fees, commissions, or investment strategies
- Pressure to invest in specific products without adequate explanation of risks
- Account statements that are confusing or don’t match verbal representations
Understanding Your Rights as an Investor
You have important legal rights if you’ve suffered investment losses due to broker misconduct. The securities industry maintains strict rules designed to protect investors, and violations of these rules may entitle you to recover your losses through FINRA arbitration.
Time limits apply to bringing claims, so understanding your situation promptly is crucial. The statute of limitations for most securities claims is six years, but acting quickly preserves evidence and strengthens your potential case.
What UBS’s Responsibility Means for You
As Ms. Fitzwater’s employer, UBS Financial Services Inc. has a duty to supervise its representatives and ensure they follow industry rules. When brokerage firms fail in this supervisory responsibility, they may be held liable for their representatives’ misconduct.
This supervisory liability is important because it provides investors with a path to recovery even when individual brokers may lack sufficient assets to satisfy judgments.
Taking Action to Protect Your Financial Future
If you’ve invested with Elizabeth Fitzwater or have concerns about your UBS accounts, consider these steps:
- Review all your account statements carefully for unauthorized trades or unsuitable investments
- Document any conversations or meetings where investment recommendations were made
- Calculate your actual losses by comparing your account values to your initial investments
- Gather all relevant documentation including account applications, statements, and correspondence
How Haselkorn & Thibaut Can Help
Haselkorn & Thibaut (InvestmentFraudLawyers.com) brings over 50 years of experience in securities law, with a remarkable 98% success rate in helping investors recover losses. Our national investment fraud law firm has recovered millions for clients who’ve suffered due to broker misconduct.
We understand that discovering potential misconduct by your financial advisor can be overwhelming. That’s why we offer free consultations to help you understand your rights and options. Our “no recovery, no fee” approach means you won’t pay attorney fees unless we successfully recover compensation for your losses.
Don’t wait to protect your financial future. If you have concerns about investments managed by Elizabeth Fitzwater or have experienced losses in your UBS accounts, contact Haselkorn & Thibaut today for a free, confidential consultation. Call 1-888-885-7162 to speak with our experienced securities attorneys who can evaluate your situation and explain your legal options.
Your retirement savings and investment goals are too important to ignore warning signs. Take the first step toward protecting your financial future by calling 1-888-885-7162 today.
