John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
FINRA reports important information about securities broker Robert Earl Turner Jr. (CRD: 2113736, Waco, Texas). Not only has FINRA sanctioned Turner for engaging in private securities transactions, but investors disputed the sales practices of the securities broker. However, Turner denies the allegations. Read on to learn more about the allegations against Turner.
Evidently, on January 27, 2023, FINRA issued Case: 2021073037101, sanctioning Robert Turner for infractions. Specifically, Turner was barred. Notably, this means that he cannot associate with FINRA-member entities as a securities broker or in other capacities. Particularly, FINRA alleged that Turner engaged in private securities transactions when he worked for UBS Financial Services Inc.
Supposedly, Turner marketed and sold “entity fixed annuities” which had been offered by a company that his colleague formed. Supposedly, clients invested $7,200,000 in entity fixed annuities, which FINRA classified as securities rather than merely fixed annuities. Also, FINRA says that Turner concealed from his employer his involvement in these transactions and falsely attested to not selling away when completing compliance certifications.
Also, a client of UBS Financial Services Inc. contested Robert Turner’s sales practices, according to a complaint. Allegedly, Turner acted unethically. Supposedly, Turner possibly caused the client to sustain damages on variable annuities. Therefore, UBS Financial Services Inc. opted to settle the matter on September 16, 2022, by compensating the client in the amount of $3,213,467.54.
Specifically, a UBS Financial Services Inc. client filed a complaint about Robert Turner Namely, the client allegedly sustained damages on variable annuities that they did not know were purchased. Therefore, on September 7, 2022, UBS Financial Services Inc. settled this matter by paying the client $975,487.02 in damages.
Also, a client of UBS Financial Services Inc. contested Robert Turner’s sales practices, according to a complaint. Allegedly, Turner made potentially inaccurate representations regarding guarantees on the client’s variable annuity. Supposedly, Turner possibly caused the client to sustain damages. Therefore, UBS Financial Services Inc. opted to settle the matter on July 13, 2022, by compensating the client in the amount of $1,992,839.22.
Specifically, a UBS Financial Services Inc. client filed a complaint about Robert Turner Namely, the client alleged that Turner acted unethically and mismanaged investment accounts. Because of this, the client allegedly sustained damages on variable annuities. Therefore, on June 15, 2022, UBS Financial Services Inc. settled this matter by paying the client $335,692.25 in damages.
Also, Stifel Nicolaus Company Incorporated disaffiliated with Turner on January 27, 2022. Allegedly, Turner admitted that when he worked at UBS Financial Services Inc., he involved himself in investments that the former employer did not offer.
Have you experienced damages due to the sales practices of Robert Turner? If you have, then reach out to Soreide Law Group at (888) 760-6552 and speak with a securities lawyer regarding a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and will advance all costs. Please keep in mind that Turner and brokerage firms Turner worked for deny any and all allegations of sales practice violations.
John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Sam Bhushan (CRD: 4884717) is named in several pending customer complaints and one settled dispute, according to his BrokerCheck report.
Sterling Louviere (CRD: 2021328), listed on BrokerCheck as Sterling Vaughn Louviere, is named in a pending customer claim over Reg D private placements, with Cabin Securities as the firm named.
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