Broker Andrew Roybal Facing Disputes From UnionBanc Investors
Soreide Law Group has come across new information in regard to securities broker Andrew Ricardo Roybal (CRD#: 2675889, San Diego, California), who worked for UnionBanc Investment Services from 1997 to 2020 as both a financial advisor and securities broker. Namely, the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck profile for Roybal shows that four investors brought disputes about him. Here are the disputes which have caught our attention:
UnionBanc Investment Services Client Indicates That Andrew Roybal Failed To Follow Instructions
First of all, a client of UnionBanc Investment Services brought a dispute about Andrew Roybal on October 23, 2020. Supposedly, the client gave instructions to Roybal regarding investments in a managed account. It appears that the broker failed to follow the client’s instructions, causing them to face losses. For this reason, UnionBanc opted to settle this matter through making a $21,887 payment to the client in November 2020.
Client Of UnionBanc Alleges Unsuitable, Misrepresented Investments In Dispute About Roybal
Also, a client of UnionBanc disputed Andrew Roybal’s sales practices in a dispute about variable annuities. Notably, the client alleged that Roybal sold an unsuitable annuity. Suitability generally has to do with a client’s investment objectives, risk tolerance and other criteria that relates to the appropriateness of the investment. In addition, the client alleged that Roybal misrepresented facts about the investments. However, UnionBanc disputed the client’s complaint, and it was ultimately denied.
Prior Disputes About Roybal Allege Misrepresentation, Nondisclosures
Moreover, BrokerCheck shows two prior disputes on Andrew Roybal’s record – both from UnionBanc Investment Services clients. In one of those disputes, a client alleges misrepresentations and non-disclosures concerning a variable universal life insurance product. In the other dispute, a client alleges that Roybal did not disclose that the client risked losing principal by investing in a fund. However, the securities firm denied those clients’ disputes.
Did Roybal Let You Down?
Did you experience losses because of broker Andrew Roybal? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have incurred losses because of their financial advisors and securities brokers. Keep in mind that Roybal denies all allegations of his sales practice violations.