The investment lawyers of Gana LLP are investigating claims against John Eglow (Eglow). According to BrokerCheck records, Eglow, who works out of Delray Beach, Florida, has been subject to four customer disputes.
In May 2017, a customer alleged she was overcharged for trades. This dispute settled for $48,758.
In July 2016, a customer alleged Eglow made unsuitable recommendations, resulting in unrealized losses. This dispute settled for $115,000.
In March 2015, a customer alleged that the terms and provisions of investments were misrepresented by Eglow. This dispute settled for $3,205.73.
Brokers have a responsibility to treat investors fairly which includes obligations such as making only suitable investments for the client. In order to make a suitable recommendation, the broker must meet certain requirements. First, there must be reasonable basis for the recommendation the product or security based upon the broker’s investigation and due diligence into the investment’s properties including its benefits, risks, tax consequences, and other relevant factors. Second, the broker then must match the investment as being appropriate for the customer’s specific investment needs and objectives such as the client’s retirement status, long or short term goals, age, disability, income needs, or any other relevant factor.