John Saunders Linked To UBS Financial Investor Complaints Concerning Unauthorized Trading

Investors have reportedly disputed the sales practices of securities broker John Howard Saunders [CRD: 870131, Vero Beach, Florida], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Saunders has been registered with UBS Financial Services Inc. since May 11, 2007, operating from both Vero Beach, Florida, and Roanoke, Virginia. Read on to discover more about the disclosures involving Saunders.

UBS Financial Services Inc. Investor Accused Saunders Of Unauthorized Trading

Particularly, on January 18, 2024, a UBS Financial Services Inc. client filed a complaint about John Saunders. The client alleged that Saunders failed to follow instructions and engaged in unauthorized trading on certain managed or wrap accounts. Because of this, the client allegedly sustained damages. Consequently, the client requested damages estimated to be in excess of $5,000 from UBS Financial Services Inc. or Saunders. The complaint was denied on February 6, 2024.

John Saunders Disclosed Unsuitable Recommendations Allegations By UBS Financial Services Inc. Client

Specifically, a client of UBS Financial Services Inc. contested John Saunders’s sales practices by filing FINRA Arbitration No. 23-01310 on May 11, 2023. Allegedly, Saunders made unsuitable recommendations for products that conflicted with the client’s liquidity needs. It appears that Saunders caused the client to sustain damages linked to equity index annuities. Therefore, the client seeks compensation from UBS Financial Services Inc. or Saunders in the amount of $400,000 in this ongoing matter.

UBS Financial Services Inc. Investor Accused Saunders Of Failure To Follow Instructions

Evidently, a client filed a complaint about John Saunders. Mainly, the client alleged that Saunders failed to follow instructions by liquidating the entire position in the client’s account. For this reason, the investor allegedly incurred damages connected to over-the-counter equities. As a result, on April 2, 2019, UBS Financial Services Inc. settled this matter by paying the client $100,000 in damages.

John Saunders Disclosed Mismanagement Allegations By UBS Financial Services Inc. Client

Additionally, a client of UBS Financial Services Inc. disputed John Saunders’s sales practices, according to a complaint. Allegedly, Saunders mismanaged the account and provided incorrect information over a three-year period, which the client relied upon for major financial decisions. It appears that Saunders caused the client to sustain damages relating to annuities. Consequently, UBS Financial Services Inc. opted to settle the matter on August 3, 2017, by compensating the client in the amount of $36,747.84.

Did You Sustain Losses Due To Financial Advisor / Securities Broker Saunders?

Do you have concerns or questions regarding investments you made with John Saunders? You can get in touch with Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a possible recovery of your investment losses. For years, Soreide Law Group has recovered losses for investors throughout the United States. Also, the firm takes cases on a contingency fee arrangement and advances all costs. Saunders and brokerage firms Saunders worked for deny allegations of sales practice violations.