Soreide Law Group is reviewing whether investors suffered losses due to possible sales practice violations by Columbus Advisory Group, Ltd. broker Timothy Wright (CRD#: 4714431, Wilmington, NC). Namely, at least one client brought a dispute in regard to Wright’s conduct. Here’s more on the disciplinary action which alleges Wright’s churning, excessive trading and unsuitable trading:
Columbus Advisory Group Client Suggests Timothy Wright Churned Client’s Account
Notably, the Financial Industry Regulatory Authority (“FINRA”) shows on Timothy Wright’s BrokerCheck Report that a client brought FINRA Arbitration #18-03337 on October 2, 2018. First of all, the client claimed Wright made excessive trades of speculative investments, including OTC equities and stocks, in the client’s account. Secondly, Wright allegedly churned the client’s account. In other words, the client suggested that Wright traded mainly to generate commissions and without regard to the client’s investment performance.
Thirdly, Timothy Wright allegedly made unreasonable trades when considering the client’s investment profile. Supposedly, those trades caused the client to take on an unreasonable amount of risk. Finally, the client claimed that Columbus Advisor Group did not supervise Wright’s trading practices. Because of this, the client alleged $43,851.36 in damages in this ongoing matter.
What’s more, FINRA suspended Wright in November 2016. Evidently, he “willfully” failed to disclose to FINRA that he had 6 total tax liens against him.
Did Timothy Wright Sell You Unsuitable Investments?
FINRA BrokerCheck shows that Timothy Wright also worked at securities firms including Olympia Asset Management, Ltd. and Worden Capital Management. Did Timothy Wright possibly cause you losses by excessively trading or churning your account, or by selling you unsuitable securities? If you experienced losses from Wright, Soreide Law Group at (888) 760-6552. You will be able to speak with experienced counsel about a potential recovery of your investment 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 suffered losses due to misconduct of brokers and brokerage firms.