Articles Tagged with UBS FINANCIAL SERVICES INC.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Schwarz (Schwarz), previously associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Schwarz recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on September 12, 2023.

Time Frame: January 23rd 2023 to June 12th 2023\, \, What were the allegations against the individual? The client’s attorney alleges the portfolio of preferred securities was an unsuitable investment and the strategy was an overconcentration for his client. The client’s attorney further alleges that the client’s were repeatedly advised that everything is safe. The alleged damages are estimated to be in excess of $5,000.00.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Kocher (Kocher), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Kocher recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on October 10, 2023.

Time Frame: August 13, 2021 to December 7th, 2022\, \, What were the allegations against the individual? The client’s attorney alleges the recommendation to purchase a security was not in his client’s best interest, was unsuitable, and was a breach of fiduciary duty. The alleged damages are estimated to be in excess of $5,000.00.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Haydee Delgado (Delgado), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Delgado recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,500,000.00 on October 12, 2023.

Time frame: 2006-2023\, \, Allegations: Claimants allege that the recommendation to invest in and hold Puerto Rico closed-end funds and Puerto Rico municipal bonds was unsuitable and that their UBS account was over-concentrated in these investments. They also allege that the risks of investing in and concentrating in PR investments were misrepresented.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Fidel Trejo (Trejo), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Trejo recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,500,000.00 on October 12, 2023.

Time frame: 2006-2023\, \, Allegations: Claimants allege that the recommendation to invest in and hold Puerto Rico closed-end funds and Puerto Rico municipal bonds was unsuitable and that their UBS account was over-concentrated in these investments. They also allege that the risks of investing in and concentrating in PR investments were misrepresented.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Feng Jin (Jin), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Jin recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on October 25, 2023.

Time Frame: September 8th, 2023 to October 16th 2023\, \, What were the allegations against the individual? The Client alleges the SRCA failed to follow his instructions by not executing trades in all of the accounts provided. Alleged damages are estimated to be in excess of $5,000.00.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Hilton Sr. (Hilton Sr.), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Hilton Sr. recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on October 23, 2023.

Time frame:   Unspecified   \, Allegations: Claimant alleges her financial advisor’s recommendation that she remain invested in equities instead of selling to cash was unsuitable. Claimant further alleges that her financial advisor purchased an annuity without her knowledge and subsequently borrowed against the annuity.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Breon (Breon), previously associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Breon recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on October 23, 2023.

Time Frame: August 15th 2023\, \, What were the allegations against the individual? Client verbally alleged he gave instructions to liquidate his managed account and those instructions were not followed.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Violante (Violante), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Violante recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on November 13, 2023.

Time frame: March 2021 – November 2023   \, \, Allegations: Claimants allege that financial advisor recommended a Muni bond portfolio with long maturities, exposing them to interest rate risk. Claimants also allege that UBS should not have held the bonds in a fee-based account, and recommended an unsuitable line of credit to pay taxes claimants owed on the sale of their business.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Pedro Martinez Parsi (Martinez Parsi), previously associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Martinez Parsi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $483,000.00 on November 29, 2023.

Time frame:   Unspecified.\, \, Allegations: Claimants allege their investments in Puerto Rico closed-end funds were unsuitable, over-concentrated, and misrepresented as safe investments.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frank Carrasco (Carrasco), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Carrasco recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $800,000.00 on December 01, 2023.

Time frame: 2009-Present\, \, Allegations: Claimants allege that the recommendation to invest in and hold Puerto Rico closed-end funds was unsuitable and that their UBS account was over-concentrated in these investments. They also allege that the risks of investing in and concentrating in PR investments were misrepresented.

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