Investors might have sustained losses because of securities broker John Stephen Pronovost [CRD: 1990612, Watertown, Connecticut], according to disclosures on FINRA BrokerCheck. Pronovost joined Osaic Institutions Inc. in Watertown, CT, both as an investment adviser and broker on February 26, 2021. Before this, he worked for Cambridge Investment Research Inc., and Cambridge Investment Research Advisors Inc., from February 29, 2008, to January 25, 2022. Continue reading to learn more about Pronovost’s disclosures.
Specifically, on February 7, 2024, a Cambridge Investment Research Inc. client filed FINRA Arbitration: 24-00269 about John Pronovost. Supposedly, Pronovost recommended unsuitable trading given the client's age and stated objectives. Because of this, the client allegedly sustained losses on mutual funds and real estate securities. Consequently, the client requested $500,000 in compensation from Cambridge Investment Research Inc. or Pronovost. Evidently, this arbitration is pending a resolution.
Particularly, a client of Cambridge Investment Research Inc. contested John Pronovost’s sales practices by filing FINRA Arbitration: 21-03133. Allegedly, Pronovost misrepresented the LJM Preservation and Growth Fund which ultimately led to losses. It appears that Pronovost caused the client to sustain damages. As a result, Cambridge Investment Research Inc. opted to settle the matter on May 13, 2022, by compensating the client in the amount of $22,067.27.
Additionally, a Cambridge Investment Research Inc. client filed FINRA Arbitration: 21-03134 about John Pronovost. Supposedly, Pronovost misrepresented the LJM Preservation and Growth Fund which ultimately led to losses. For this reason, on May 13, 2022, Cambridge Investment Research Inc. settled this matter by paying the client $13,284.42 in damages.
A Cambridge Investment Research Inc. client filed FINRA Arbitration: 21-02608 about John Pronovost. Supposedly, Pronovost made unsuitable investment recommendations. These allegations involved real estate securities, mutual funds, and unit investment trusts. Consequently, the investor apparently experienced damages amounting to $43,539.53. On March 7, 2022, Cambridge Investment Research Inc. resolved this matter by compensating the client $24,500 in damages.
A Cambridge Investment Research Inc. client contested John Pronovost's sales practices, according to a complaint received on February 10, 2020. The client alleged Pronovost recommended the purchase of two real estate securities which resulted in financial loss and liquidity issues. The alleged damages were $172,000. The complaint, however, was denied on March 6, 2020.
Particularly, a client of Cambridge Investment Research Inc. contested John Pronovost's sales practices according to a complaint. The client alleged the purchase of unsuitable trading in their accounts involving mutual funds. On March 5, 2020, Cambridge Investment Research Inc. opted to settle the matter by compensating the client $155,000.
Did you experience losses because of John Pronovost? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Pronovost and brokerage firms he worked for deny accusations of sales practice violations.
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