Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as J.W. Cole Financial, Inc.. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
J.W. Cole Financial is an independent broker-dealer and registered investment adviser that provides financial professionals with operational, product, compliance, and practice management support to serve their clients. Incorporated in Florida in 2002 and headquartered in Tampa, the firm supports affiliated financial professionals nationwide.
J.W. Cole Financial, Inc. – By the Numbers:
- CRD #: 124583
- Regulatory Events: 1
- Arbitration Events: 1
- Broker Employees: 538
J.W. Cole Financial, Inc. – In the News:
FINRA v. J.W. Cole Financial, Inc. (Case #2019061764801) – Between May 2017 and December 2017, J.W. Cole failed to reasonably supervise representatives’ recommendations of an alternative mutual fund—the LJM Preservation & Growth Fund (LJM). J.W. Cole permitted the sale of LJM on its platform without conducting reasonable due diligence and without a sufficient understanding of its risks and features, including the fact that the fund pursued a risky strategy that relied, in part, on purchasing uncovered options. J.W. Cole also lacked a reasonable supervisory system to review representatives’ LJM recommendations. The firm’s representatives sold approximately $1 million in LJM to customers. LJM’s value dropped 80% during an extreme volatility event in February 2018 and the fund ultimately liquidated and closed, resulting in thousands of dollars in losses for J.W. Cole’s customers. By virtue of the foregoing, J.W. Cole violated FINRA Rules 3110 and 2010.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.