Christopher Sinkula, a registered representative of the brokerage firm
Janney Montgomery Scott, has been recently accused by a client of making
unsuitable investments in energy sector stocks and products.
According to regulatory documents, a customer claims that Sinkula (CRD#
2001512) made unsuitable investments that resulted in a high concentration
of energy stocks. The customer alleges $100,000 in damages over the unsuitable
Previous customer complaints involving Christopher Sinkula have settled.
In 2012, while Sinkula was with Citigroup Global Markets, a settlement
of $200,000 was entered into relating to allegations that he misrepresented
an annuity. In 1997, while Sinkula was with AG Edward & Sons, for
a different customer complaint was settled for $46,000.
Mr. Sinkula’s FINRA records indicate eight total customer complaints
involving allegations that he misrepresented material facts, made unsuitable
recommendations and unsuitable investments, and failed to follow instructions.
Christopher Sinkula is currently employed by Janney Montgomery Scott and
works in at Stuart, Florida. From 1999 until 2008, Sinkula was with Citigroup
Global Markets also in Stuart.
Financial advisors are required to gather appropriate information before
making any recommendations. This information should include their client’s
financial status and goals, as well as their tolerance for risk. The financial
advisor should also gather information about the investment to make sure
it is a good fit for their client.
Financial advisors who fail to gather this information can make unsuitable
investments on their client’s behalf. Clients who lose money based
on an unsuitable investment can hold their financial advisor responsible
in a stockbroker misconduct case if they can show the investment was unsuitable.
To prove that a financial advisor made an unsuitable investment, clients
must show that the actual investment took place, their financial state
at the time, as well as tolerance for risk, investment goals, and future
needs. Clients also have to demonstrate that they suffered a loss because
of the unsuitable investment.
If you think your broker made unsuitable investments on your behalf and
as a result you suffered a loss,
call the experienced attorneys at Meyer Wilson today.