Broker Bob Cohen Allegedly Gave Bad Advice To Vulnerable Elderly Client

Clients are alleging investment losses because of Bob Cohen [CRD#: 1162192, Melville, New York]. Apparently, the securities broker, who worked for UBS Financial Services between 2008 and 2018 and who joined Stifel Nicolaus in 2018, shows 4 investor disputes reported on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck. Evidently, UBS and Morgan Stanley clients indicate that Cohen bought or sold investments without permission, gave bad advice and mismanaged accounts. For more details in reference to the allegations against Cohen, see below.

Bob Cohen Allegedly Gives Bad Advice To UBS Client

Evidently, on February 21, 2019, a UBS client brought an investment dispute about Bob Cohen. Notably, the client asserted that Cohen traded without having authorization. Not only that, but the client suggested that the securities broker sold or recommended illiquid investments including bonds with 30 year maturities which conflicted with the client’s liquidity needs as a ninety year old. For this reason, the client experienced losses and demanded compensation from UBS or Cohen. However, UBS denied the client’s allegations.

UBS Disaffiliates With Cohen For Unauthorized Activities

Apparently, UBS disaffiliated with Cohen on September 25, 2018 because he violated the securities firm’s policies and procedures. Supposedly, the securities broker made unauthorized payments to a fellow broker for securities transactions. Also, he seemingly failed to be consistent or sincere with UBS in reference to his affairs, making false affirmations on the firm’s questionnaires.

Morgan Stanley Client Suggests Bob Cohen Was Negligent In Managing Account

Evidently, in 2010, a Morgan Stanley client made a formal complaint concerning Bob Cohen. Supposedly, Cohen improperly and unreasonably managed the client’s account. It appears that the securities broker possibly also falsified investment information. Consequently, on July 9, 2012, Morgan Stanley settled this dispute through providing the client compensation.

Cohen Misrepresents Fees To Morgan Stanley Client

Apparently, a client of Morgan Stanley contested Bob Cohen’s actions by lodging a complaint in 2008. Allegedly, Cohen misrepresented the fees for securities transactions which he possibly recommended or effectuated. Consequently, Morgan Stanley agreed to settle the client’s dispute on March 23, 2009 through paying the client $10,695.24.

Morgan Stanley Client Suggests Cohen Sold Unsuitable ARS

Notably, a client of Morgan Stanley contested Bob Cohen’s securities recommendations or sales through bringing a complaint in 2008. Allegedly, Cohen misrepresented the liquidity of auction rate securities (“ARS”) which he recommended or sold. It appears that the client agreed to purchase the investments by relying on these false statements and then experienced losses. As a result, Morgan Stanley agreed to resolve the matter on July 30, 2008 through paying the client $425,000.

Did UBS Broker Bob Cohen Cause You To Experience Losses?

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Have you experienced losses by investing with UBS securities broker Bob Cohen? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers like Cohen and brokerage firms.