Soreide Law Group is investigating potential investor claims of bad securities sales by broker Dwight West [CRD#: 463778, Lone Tree, Colorado]. Notably, Financial Industry Regulatory Authority (“FINRA”) BrokerCheck reports that no less than 6 clients contested the securities recommendations or sales of the securities broker, who joined UBS Financial Services in 2009. Apparently, clients of UBS suggest that West falsified investment information and placed clients in unreasonable and unsuitable investments. The following contains a summary of some alarming disclosures concerning the broker:
Dwight West Allegedly Misrepresents Rates Of Return
Evidently, on April 9, 2019, a UBS Financial Services client made a formal complaint about Dwight West. The client contended that West falsified details when comparing what the client’s rate of return would be through him at UBS to the client’s present situation. Allegedly, the securities broker also sold investments which posed a high risk and conflicted with the client’s interests. As a result, the client experienced losses on managed or WRAP accounts. Consequently, the client requested $10,000 in compensation from UBS Financial Services or West. Evidently, this complaint was denied by the firm.
UBS Investors Indicate That West Recommended Bad Investments
Apparently, a client of UBS Financial Services contested Dwight West’s actions by bringing FINRA Arbitration #: 18-01959 on May 24, 2018. Allegedly, West took advantage of this senior investor, making unsuitable investment recommendations. It seems that these investments did not comport with the client’s goals, risk tolerance or other suitability criteria. Also, West purportedly bought or sold investments without the client’s permission. After seemingly abandoning the account and not speaking with the client, the client brought the claim to recover losses. Consequently, UBS Financial Services agreed to settle the client’s dispute on October 12, 2018 through paying the client $19,890.
Dwight West Allegedly Violates Laws Regarding Morgan Stanley Client’s Equity Purchases
Evidently, West used to work for Morgan Stanley. Apparently, a Morgan Stanley client filed FINRA Arbitration #: 99-04809 about Dwight West. Namely, the client alleged that there were “statutory securities violations” as a result of the client’s equity purchases. Because of this, the client sustained losses on common or preferred stocks. Therefore, in 2001, Morgan Stanley settled this matter by paying the client $225,000.
Losses From Dwight West?
Have you experienced losses by investing with securities broker Dwight West? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced legal counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like West along with his employing brokerage firms.