Zachary Taylor Facing Complaints From Saxony, Oppenheimer Clients

Investors might have sustained losses due to securities broker Zachary Ellis Taylor (also known as Zach Taylor) [CRD: 6074776, Newport Beach, California], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Zachary Taylor worked for Saxony Securities Inc. from June 26, 2023, to October 24, 2023, Oppenheimer Co. Inc. from August 21, 2020, to June 2, 2023, and Merrill Lynch from June 7, 2013, to August 24, 2020. Keep reading to learn more about the securities broker’s disclosures.

Oppenheimer Co. Inc. Investor Accused Taylor Of Breach Of Fiduciary Duty

Also, on January 17, 2024, an Oppenheimer Co. Inc. client filed FINRA Arbitration No. 24-00011 about Zachary Taylor. Supposedly, Taylor engaged in unauthorized trading and breached his fiduciary duty. Because of this, the client allegedly sustained damages on stocks and options. As a result, the client requested $426,000 in compensation from Oppenheimer Co. Inc. or Taylor. Currently, this arbitration is unresolved.

Zachary Taylor Disclosed Mismanagement Allegations By Oppenheimer Co. Inc. Client

Additionally, a client of Oppenheimer Co. Inc. contested Zachary Taylor’s sales practices, according to a complaint. Allegedly, Taylor mismanaged the client's portfolio of options and stocks. For this reason, Oppenheimer Co. Inc. opted to settle the matter on March 22, 2024, by compensating the client in the amount of $50,000.

Oppenheimer Co. Inc. Investor Accused Taylor Of Misrepresentation

Specifically, on September 29, 2023, an Oppenheimer Co. Inc. client filed FINRA Arbitration No. 23-02570 about Zachary Taylor. Mainly, the client alleged that Taylor breached his fiduciary duty, breached a contract, made misrepresentations, was negligent, engaged in unauthorized stock trading, and violated FINRA rules and state securities regulations. Therefore, the client requested $100,000 to $500,000 in compensation from Oppenheimer Co. Inc. or Taylor. Evidently, this arbitration is pending a resolution.

Zachary Taylor Disclosed Breach Of Contract Allegations By Client

Also, a client of Oppenheimer Co. Inc. contested Zachary Taylor’s sales practices by filing FINRA Arbitration No. 22-02299. Allegedly, Taylor made unsuitable recommendations, engaged in unauthorized trading, breached a contract, was negligent, breached his fiduciary duty, and was not adequately supervised with options and stock trading and creating new accounts. Therefore, Oppenheimer Co. Inc. opted to settle the matter on November 10, 2023, by compensating the client in the amount of $250,000.

Oppenheimer Terminated Taylor’s Registration

Particularly, on May 30, 2023, Oppenheimer Co. Inc. disaffiliated with Taylor. Namely, Oppenheimer Co. Inc. alleged that Taylor was unable to provide enough proof that he had authority for all trades in a client's account.

Did You Sustain Losses Because Of Taylor?

Suffer losses because of Zachary Taylor? If you have, contact Soreide Law Group online or at (888) 760-6552 and talk to a securities attorney regarding a potential recovery. Soreide Law Group has obtained recoveries for many investors throughout the United States, works on a contingency fee basis, and advances all costs. Taylor and brokerage firms Taylor worked for deny accusations of sales practice violations.