UBS Broker Juan Goytia Discloses 89 Investor Disputes

Soreide Law Group is reviewing possible claims of sales practice violations by Juan Goytia (CRD#: 4473937, San Juan, Puerto Rico). Namely, the Financial Industry Regulatory Authority (“FINRA”) reports that the securities broker, who worked for UBS from February 14, 2002 to July 27, 2018, is entangled in at least 89 investor disputes. Recent claims about Goytia which suggest that his bad advice caused UBS clients to experience investment losses. Here’s more:

UBS Client Suggests Juan Goytia Sold Unsuitable Puerto Rico Investments

Evidently, a client of UBS brought FINRA Arbitration #: 19-03380 on November 13, 2019. First of all, the client suggested that Juan Goytia made unsuitable recommendations of Puerto Rico closed end funds. It appears that Goytia not only advised the client to invest in the speculative investments, but the securities broker urged the client to maintain the holdings during volatile periods. It appears that Goytia failed to consider the client’s risk tolerance when making recommendations which included large concentrations of the risky investments for the client’s account. In addition, the client contended that Goytia misrepresented the investments. For this reason, the client demanded $115,000 in this ongoing matter.

Client Of UBS Contends That Goytia Misrepresented Puerto Rico Municipal Bonds

Apparently, a second client of UBS filed FINRA Arbitration #: 19-02641 on September 4, 2019. Allegedly, Juan Goytia failed to tell the client the truth about the risks of investing in Puerto Rico municipal bonds. It appears that the client acted on the securities broker’s false information or representations. Also, Goytia allegedly gave the client poor investment recommendations and overconcentrated the client’s account. For this reason, the client asked for up to $500,000 in compensation from Goytia or UBS to resolve the issue. Currently, this matter is unresolved.

UBS Client Indicates That Juan Goytia Overconcentrated Account In Bad Puerto Rico Investments

Evidently, on August 14, 2019, a third client of UBS contested Juan Goytia’s sales practices by filing FINRA Arbitration #: 19-01722. Mainly, the client suggested that Goytia advised the client to direct an unreasonably large amount of the overall investment portfolio into the risky Puerto Rico closed end funds. These investments supposedly conflicted with the client’s investment profile. Like the other clients, this client also alleged that Goytia misrepresented investments he sold to the client. Because of this, the client demanded at least $1,142,226.75 in compensation. This matter is pending a resolution.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Have you suffered losses by investing with securities broker Juan Goytia? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery. The firm represents clients on a contingency fee basis and advances all costs. Soreide Law Group has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.