Securities Broker Nick Son Allegedly Sold Or Recommended Unsuitable Investments To Aegis Clients According To Disputes
Soreide Law Group provides you this investor alert in regard to securities broker Nick Son (CRD#: 1178523, New York, New York). Notably, the securities broker, who worked for National Securities Corporation and Aegis Capital Corp, is facing disputes from investors in regard to his sales practices which might have caused investors to experience losses. From what BrokerCheck reports, Son might have made unsuitable and unauthorized transactions. Here’s more.
Aegis Client Indicates That Nick Son Sold Unsuitable Investments
Evidently, a client of Aegis Capital Corp filed a FINRA Arbitration Claim in April 2020 to contest Nick Son’s sales practices. First of all, the client suggested that Son sold unsuitable investments. Suitability basically refers to an investor’s objectives, risk tolerance, financial circumstances and understanding of recommended investments. Secondly, Son allegedly breached a contract . Thirdly, the client indicated that Son failed to comply with his fiduciary responsibility to the client. For this reason, the client asked for more than $642,000 in compensation in this ongoing matter.
Son Supposedly Made Unauthorized Trades
Apparently, an Aegis Capital Corp client took aim at Nick Son through a February 2018 lawsuit. It seems that Son made unauthorized trades at Aegis Capital Corp. In addition, the client suggested that Son made unsuitable investment recommendations. Notably, the client received nearly $63,000 to settle this dispute about Son.
Son Allegedly Sells Unsuitable Investments
FINRA BrokerCheck also reports that Nick Son was involved in a third Aegis client’s dispute from 2016. It seems that Son used margin for securities transactions. The client indicated that Son’s transactions were not suitable. However, Aegis Capital Corp closed this dispute without resolution.
Client Indicates That Son Violated Client’s Risk Profile
In the fourth dispute reported through BrokerCheck, a client states that Nick Son violated a “disclosed risk profile.” It appears that the client told Son about how much risk they were willing to take but this fell on deaf ears. Not only that, but the client stated that Son was non-responsive to correspondence and that he provided biased advice. This matter was closed without further action.
Did Son Sell You Inappropriate Investments?
If Nick Son unreasonably caused your losses, get in touch with Soreide Law Group at (888) 760-6552 where you can speak with experienced lawyers about a possible recovery. Keep in mind that Soreide Law Group represents clients on a contingency fee basis and advances all costs. We have recovered millions of dollars for investors who have suffered losses from the misconduct of financial advisors and securities brokers. Evidently, Son denies all allegations of his sales practice violations.