Financial Industry Regulatory Authority (FINRA) BrokerCheck has released new information in regard to securities broker Jeffrey Lamar Burton (CRD#: 2366552, Charleston, South Carolina). Notably, six investors filed disputes in regard to Burton, who worked for securities firms UBS Financial Services (2000 to 2016) and Wells Fargo Advisors Financial Network (2016 to present). These disclosures make allegations of Burton’s sales practice violations causing investors to experience losses. Let’s take a closer look at these disclosures.
Evidently, a client of Wells Fargo Advisors Financial Network disputed Burton’s sales practices. Specifically, the client contended that Burton failed to place trades according to instructions that they provided. For this reason, the client purportedly lost out on investment opportunities between February 2020 to April 2020. Apparently, Wells Fargo settled through making a $100,000.00 payment to the client in September of 2020.
Notably, a Wells Fargo Advisors client took issue with Jeffrey Burton’s trading practices in November 2018. The client alleged to have been invested in GNMA bonds when this was not suitable for them. Not only that, but the client argued that GNMA transactions resulted in excessive fees. Ultimately, Wells Fargo chose to settle this matter through making a $1,550,000.00 payment to the client in November 2019.
Moreover, a client of UBS Financial Services brought a dispute about Jeffrey Burton. Specifically, the client claimed that Burton did not reasonably supervise their account. The client received $27,500.00 in damages to settle this matter. Three prior disputes also allege that Burton failed to supervise. The client who brought the first dispute received $600,000.00. The second one took in $141,000.00 as a settlement. And the third received $105,000.00.
Apparently, Jeffrey Burton denies allegations of his sales practice violations. Have you incurred losses by investing with him? If so, touch base with Soreide Law Group at (888) 760-6552 and speak with a knowledgeable securities lawyer about 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 experienced losses because of their securities brokers and financial advisors.
CONTACT US
Soreide Law Group is investigating potential investor claims involving Cove Capital 1031 Delaware Statutory Trust (DST) investments and whether brokers improperly recommended these specific tax-deferred real estate offerings. Cove Capital 1031 DSTs are structured investments that allow investors to reinvest proceeds from the sale of real estate into fractional interests in institutional-grade properties while deferring […]
Investors might have sustained losses due to securities broker Marc Charles Koch [CRD: 4978078, New York, New York], given the publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Koch worked for Morgan Stanley from March 30, 2023, to the present, First Republic Investment Management Inc. from November 7, 2022, to April 25, […]
Investors potentially incurred losses because of securities broker Stephen Charles Newell Hlibok (also known as Stephen Hlibok and Steve Hlibok) [CRD: 1728900, Columbia, Maryland], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Hlibok worked for Merrill Lynch Pierce Fenner Smith Incorporated from September 25, 1987, to the present as a broker, and from […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com