TAG | high risk UITs
Comments off · Posted by Securities Lawyer in FINRA
Soreide Law Group, PLLC, is currently investigating Tim Cerny and M & I Financial Advisors. Tim Cerny recently entered into a Letter of Acceptance, Waiver and Consent with FINRA, suspending him for 10 days and was fined $20,000. This action was related to the sales practices of the First Trust Income Allocation UIT (Unit Investment Trust) for a 66 year-old investor who had been invested in primarily fixed annuities. Given the client’s investment experience and risk levels, this investment was nearly all of his net worth which made Cerny’s recommendation unsuitable for that client.
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide. If you or a family member have sustained investment losses due to your stock broker or financial advisor’s recommendations, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: http://www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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