Melinda Abood Involved In UBS Investor Disputes

Melinda Abood (UBS Financial Services) Targeted In Investor Disputes

The Financial Industry Regulatory Authority (“FINRA”) reports troubling information in regard to securities broker Melinda Joyce Abood (CRD#: 867463, New York, New York). Namely, the securities broker and financial advisor, who joined UBS Financial Services in April 1986, is involved in five investor disputes. Here’s more about these incidents, including what you could do if you invested through the broker.

UBS Financial Services Client Alleges Failure To Follow Instructions

Evidently, in April 2020, a client of UBS Financial Services took aim at Melinda Abood. Primarily, the client contends that from 2018 to 2020, Abood did not follow their instructions when she was their financial advisor. Supposedly, she invested their assets in substandard bonds (junk bonds). Not only that, but the client contends that the securities broker concealed or otherwise failed to disclose who the issuer was. Moreover, she reportedly failed to tell the client about the credit rating of corporate bonds. For this reason, the client asked for $42,000.00 in compensation. However, UBS Financial Services denied this client’s dispute.

Client Of UBS Financial Services Alleges Misrepresentation By Melinda Abood

In addition, a client of UBS Financial Services lodged a dispute in October 2017 in regard to Melinda Abood’s representations. Specifically, the client claimed that Abood misrepresented the risks of Puerto Rico bonds. Supposedly, the securities broker told them that they were investing in conservative and safe investments in which the principal value was insured. The municipal bonds reportedly caused the client to experience losses from June 2005 to October 2017. For this reason, the client obtained $37,500.00 from UBS Financial Services to settle this matter.

Prior Dispute About Melinda Abood Alleges Negligence, Breach Of Fiduciary Duty

In a prior dispute about Melinda Abood, a client contended that she breached a fiduciary duty to the client. In addition, the client alleged that she misrepresented very important facts in regard to the client’s investments. Next, she is accused of unsuitable trading and excessive trading. The FINRA Arbitrators found her liable. For this reason, Arbitrators required her to make payment of $91,431.00 to the client.
Two of the first disputes on Melinda Abood’s record resulted in settlements. In one of those disputes, the complaint alleged mismanagement of the client’s account. It seems that transactions were not consistent with the client’s investment goals.

Did You Suffer Damages By Investing Through Abood?

Did you experience losses because of broker Melinda Abood? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have incurred losses because of their financial advisors and securities brokers. Please note that Abood denies all allegations of her sales practice violations.
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