Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in October, 2017

Three Scams to Keep an Eye Out For

It’s just about time to put on a costume and go out trick or treating, but full-sized candy bars aren’t the only targets out there this time of year. Fraudsters are out in full force ... Continue reading "Three Scams to Keep an Eye Out For" »
Wall Street is not doing enough to protect senior investors. Financial regulators warn that senior financial fraud is on the rise, and brokerages and financial advisors are responsible for not doing ... Continue reading "Are Brokerages and Advisors Doing Enough to Protect Seniors?" »
Understanding investment and broker fees can protect investments and increase returns. Investment expenses have a big impact on financial returns, especially over a long period of time. Common ... Continue reading "Do You Understand the Fees Your Broker is Charging?" »
The Senate voted 51-50 on Tuesday, October 24 to repeal a rule put in place by the Consumer Financial Protection Bureau (CFPB) that banned mandatory arbitration clauses in certain financial contracts. ... Continue reading "Congress Votes in the Middle of the Night to Give Big Banks Immunity from Lawsuits" »
Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC were recently ordered to pay more than $3.4 million in restitutions for unsuitable recommendations and related ... Continue reading "Wells Fargo Broker-Dealers Ordered to Pay $3.4 Million in Restitution" »
Danny Scott Hood (CRD# 3236852) has been barred from the securities industry by the SEC, effective Oct. 11, 2017, for his part in a variable annuity scam. From October 2012 to December 2014, Danny ... Continue reading "Danny Scott Hood Barred for Variable Annuity Scam" »
Jack McBride, a financial broker currently registered at Wunderlich Securities Inc., was under investigation by FINRA over allegations of soliciting prohibited securities up until the FINRA claims ... Continue reading "Wunderlich broker Jack McBride Under Investigation for Unsuitable ETFs" »
Once you have made the decision to hire a financial professional to help manage your investments, you will notice that some of these people may have a number of letters following their name. In the ... Continue reading "What You Need To Know About Financial Designations" »
The Financial Industry Regulatory Authority (FINRA) recently released a statement warning investors that a number of non-lawyer representatives have exploited customer claimants they represented in ... Continue reading "FINRA Issues Warning Over Non-Lawyer Arbitration Representatives" »
Loaded mutual funds charge investors sales fees that compensate the broker for his/her services when accounts are open or closed. These fees often benefit the broker more than the investor. Loaded ... Continue reading "Is Your Broker Cheating You with Loaded Mutual Funds?" »
By law, investment advisors who give clients advice and recommendations on investments have a fiduciary duty to act in their clients' best interest. All conflicts of interest must be disclosed ... Continue reading "Did Your Adviser Put Your Best Interests First?" »
The law firm of Meyer Wilson has successfully represented numerous investors in recent years who suffered significant losses in energy-related stocks, master limited partnerships (MLPs), and other ... Continue reading "Energy Investors Continue to Lose Money in 2017; Investors May Be Able to Recover Their Losses in FINRA Arbitration" »
The investment fraud attorneys at the Meyer Wilson law firm have seen an increase in instances of brokerage firm customers, particularly retirees and senior investors, being sold shares of business ... Continue reading "Meyer Wilson Investigating Investor Losses in Business Development Companies" »
Mikhail Filshtinskiy, a former Wells Fargo broker who was suspended by FINRA in 2016, is the subject of a pending arbitration relating to allegations that Filshtinskiy aided a hedge fund manager to ... Continue reading "Former Wells Fargo Broker Mikhail Filshtinskiy Accused of Aiding a Hedge Fund Manager to Defraud Clients" »
The Financial Industry Regulatory Authority (FINRA) has permanently barred Lorenzo Esteva after he failed to provide documents in response to customer complaints of investment fraud, falsified ... Continue reading "Former UBS broker Lorenzo Esteva Barred During Investigation of Unauthorized Trading" »
A broker with Geneos Wealth Management has been accused by clients of making unsuitable investment recommendations in real estate securities. Joseph Sterling (CRD# 1101378), who is still registered ... Continue reading "Joseph Sterling of Geneos Wealth Management the Subject of Customer Complaints for making Unsuitable Recommendations" »
Former Morgan Stanley broker Angel Edgardo Aquino-Velez (CRD# 2687333) has been accused by his clients of making unsuitable investments with regard to Puerto Rican municipal bonds. Aquino-Velez was a ... Continue reading "Former Morgan Stanley Broker Angel Aquino-Valez Accused by Clients of Misconduct for Selling Puerto Rico Bonds" »

New Fiduciary Rule Protection

The new federal fiduciary rule requires financial advisors to act in the best interest of their clients when handling retirement assets. The rule applies to all financial advisors and registered ... Continue reading "New Fiduciary Rule Protection" »
Former SII Investments Inc. financial advisor reportedly stole $1.8 million from his investment clients to support his lifestyle and gambling habit. According to the Complaint filed by the SEC on ... Continue reading "Former Broker Scott Newsholme Sued By SEC for Stealing More than $1 Million from Clients" »
John Carolyn, a broker with UBS Financial Services Inc., has been accused by several clients of overconcentrating their investments in oil and gas securities. According to his FINRA report, John ... Continue reading "UBS Broker John Carolyn is Slammed with Customer Complaints of Overconcentration in Oil and Gas Investments" »

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