Broker John Fulton Supposedly Misrepresented Investments To UBS Clients
Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) shows that four or more investors brought complaints or lawsuits against securities broker John Seiberling Fulton (CRD#: 2481439, West Palm Beach, Florida). Apparently, these investors suggest that Fulton, who has worked for UBS Financial Services since 2002, caused their losses by selling unsuitable and misrepresented investments. Let’s take a closer look at some of these alarming allegations against Fulton.
Client Indicates That John Fulton Misrepresented Information In Connection With Securities Transactions
Notably, a client of UBS Financial Services brought a lawsuit to the firm’s attention in April 2020 about Fulton. It seems that John Fulton might have made unsuitable trades and misrepresented information in connection with those trades. Supposedly, from 2017 to 2019, his options overlay strategy was allegedly problematic for investors. For losses sustained as a result of Fulton’s actions, the client has asked UBS Financial Services to pay $1,400,000. FINRA BrokerCheck indicates that Fulton denies all allegations.
UBS Financial Services Client Indicates That Fulton Sold Risky, Inappropriate Structured Products
Evidently, a UBS Financial Services client took aim at John Fulton through an October 2018 complaint. It appears that from 2017 to 2018, Fulton was a financial advisor for the client. In this position, Fulton allegedly recommended bad structured products. The client indicated that Fulton did not converse with the client about investment characteristics. He also supposedly failed to consider the client’s objectives and liquidity needs. For this reason, the client suggested that Fulton’s structured products recommendations were unsuitable. Adding insult to injury, it appears that Fulton concentrated the client in risky investments. However, the securities firm denied this client’s complaint in December 2018.
Prior Complaints Indicate That John Fulton Made Excessive Trades
FINRA BrokerCheck also shows that a Deutsche Bank Securities client accused John Fulton of excessive trading and failing to follow instructions. In addition, that client indicated that Fulton breached a fiduciary duty, failing to place the client’s interests first. For this reason, the client demanded a quarter million dollars in compensation in the complaint. However, the securities firm denied this complaint.
FINRA BrokerCheck indicates that John Fulton denies all allegations of misconduct as referenced in disputes about his sales practices.
Losses By Investing In Securities Because Of Fulton?
Experienced losses by investing with John Fulton? 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 firms and brokers like Fulton.