Neil Klein Involved In UBS Investor Dispute

Multiple UBS Clients File Investment Disputes About Broker Neil Klein

FINRA BrokerCheck indicates that investors alleged sales practice violations involving securities broker Neil Kevin Klein (CRD#: 1681779, White Plains, New York) and that those violations resulted in damages. Notably, Klein was a securities broker and financial advisor at UBS Financial Services (his employer since 2006) and Advest Inc. (his prior employer through 2000) during the time of the allegations against him. For more information concerning this securities broker, read the following summary of disclosures as reported on BrokerCheck.

Neil Klein’s UBS Financial Services Client Alleges Unsuitable Investments

Evidently, on August 30, 2019, a UBS Financial Services client decided to lodge a dispute about Neil Klein’s and the securities firm’s sales practices. Apparently, the securities firm or broker is accused of unsuitable trading. Supposedly, this caused tax liabilities and substantial losses for a client’s trust. Supposedly, Klein or the securities firm caused the client to experience damages by investing in annuities. Consequently, to resolve the client’s allegations of improper sales practices, UBS Financial Services settled with the client by making a payment to them in the amount of $50,000 on December 28, 2021.

Klein Allegedly Fails To Follow UBS Client’s Instructions

It appears that a UBS Financial Services client took issue with Neil Klein’s actions, according to a dispute. The client’s causes of action against the securities firm include his failure to follow instructions by prematurely selling stocks. Supposedly, Klein or the securities firm caused the client to experience $13,000 In damages by investing in equities. However, the securities firm and broker disagreed with the allegations and denied the client’s dispute.

Advest Client Alleges Unauthorized Trading, Churning In Arbitration Claim About Neil Klein

Notably, a client of Advest Inc. complained about Neil Klein’s sales practices at Advest Inc., according to an investment dispute listed on BrokerCheck. Supposedly, Klein caused the client to incur damages relating to the client’s investments in equities. Allegations include unsuitable trading, unauthorized trading, and churning. It seems that the client accepted $9,990 in damages from the securities firm, per a settlement that the firm and client reached.

Losses Through Klein?

Did you realize losses because of Neil Klein? You can get in touch with Soreide Law Group at (888) 760-6552 to talk with a skilled securities attorney about a possible recovery of your losses. Soreide Law Group takes clients’ cases on contingency fee arrangements. Also, we advance all costs. The firm has recovered considerable compensation for investors that have incurred damages from securities brokers or financial advisors. Please note that Klein denies all allegations of improper sales practices.