UBS Clients Take Issue With Matt Buchsbaum’s Options Overlay Strategy Recommendation

Soreide Law Group is reviewing possible investor claims against broker Matthew Stern Buchsbaum (CRD#: 2220565, New York, New York). According to FINRA BrokerCheck, a number of his clients filed disputes about his sales practices. In fact, clients suggest that Buchsbaum placed them in unsuitable and misrepresented investments which caused them to experience losses. Here’s more on some of the recent claims.

UBS Financial Services Client Indicates Matt Buchsbaum Misrepresented Options Overlay Strategy

Apparently, on April 28, 2020, a client of UBS Financial Services brought FINRA Arbitration #: 20-01323. Namely, the client took issue with an options overlay strategy from 2016 to 2020. It seems that Buchsbaum did not consider suitability factors when advising the client to buy and hold investments. Supposedly, Buchsbaum made misrepresentations about this strategy too. For this reason, the client demanded $1,200,000 in damages in this pending matter.

Buchsbaum Supposedly Recommends Risky Options To UBS Financial Services Client

Evidently, a second UBS Financial Services client brought a formal dispute about Buchsbaum on March 27, 2020. Supposedly, from 2017 to 2019, the client invested in an options overlay strategy because of Buchsbaum’s misrepresentations and bad advice. Because of this, the client experienced losses of $1,600,000. As of June 26, 2020, this matter is pending a resolution.

UBS Financial Services Client Questions Suitability Of Matt Buchsbaum’s Options Overlay Strategy

Notably, a third UBS Financial Services client took aim at Buchsbaum via FINRA Arbitration Action #: 20-00459 on February 11, 2020. Like the other UBS Financial Services clients, this client invested in the options overlay strategy because of Buchsbaum. Apparently, Buchsbaum’s investment recommendation was improper because of the client’s risk tolerance or other aspect of the client’s profile  between 2017 and 2019. Because of this, the client demands $2,200,000 in compensatory relief.

Prior Investor Disputes Concern Suitability, Breach Of Fiduciary Duty

Apparently, many other investors contested the suitability and representations of an options strategy Buchsbaum recommended at UBS Financial Services. Most of these disputes, which concern substantially the same allegations, are ongoing. Notably, in one or more investor disputes, the client alleged breach of fiduciary through Buchsbaum’s negligence and his failure to prudently manage the risks of an options strategy.

Losses From UBS Financial Services’ Matt Buchsbaum?

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Have you sustained losses by investing with securities broker Buchsbaum? If you have, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a potential recovery of your investment losses. Soreide Law Group provides representation to clients on a contingency fee basis and advances costs. The law firm has recovered millions of dollars for clients who have experienced losses due to misconduct of securities brokers like Buchsbaum.