The Frankowski Firm is currently investigating the possible wrongdoing of current UBS Financial Services broker Bradley Ross of Fort Lauderdale, Florida.
According to FINRA’s BrokerCheck, Ross has been the subject of a number of customer complaints.
In 2015, a customer alleged Ross, while employed at UBS, recommended investments not consistent with their risk tolerance. The customer claimed Ross’s recommendation was made with total disregard for their risk tolerance and was a radically unsuitable recommendation based on both their risk tolerance and investment history.
Again in 2015, a customer alleged Ross, while employed at UBS, refused to follow the customer’s directives to sell, violated multiple fiduciary obligations including the buying of unsuitable investments and making unauthorized trading. The customer requested $94,862 in damages.
Also in 2015, a customer alleged Ross, while employed at UBS, recommended unsuitable investments and over-concentrated their account. The customer sought $400,000 in damages in the complaint.
In 2014, a customer alleged Bradley Ross, while employed at UBS Financial Services, recommended over-concentration in precious metal investments. The customer sought $1,057,225 in damages in the complaint.
FINRA rules and federal securities law state that brokers and investment advisers like Bradley Ross have a fiduciary duty to recommend only investments that are suitable for their clients. They must consider factors such as the client’s investment experience, objectives, income, age, risk tolerance, and net worth. Brokerage firms like UBS Financial Services have a supervisory duty to ensure that their registered representatives comply with these regulations. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action by FINRA or the SEC.
If you or someone you know has lost money as a result of a broker’s wrongdoing, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.