Options for Clients of UBS Financial Services Inc. Broker Alexander Phillips

UBS Financial Services Inc.

Erez Law is currently investigating UBS Financial Services Inc. broker Alexander Phillips (CRD# 1730948) who is alleged to make unsuitable investment recommendations. He has been registered with UBS Financial Services Inc. in Los Angeles, California since 2008. 

Alexander Phillips Customer Complaints

He has been the subject of three customer complaints between 2006 and 2022, one of which was denied, according to his CRD report:

July 2022. “Time frame: 2017 – present Claimant’s counsel alleges unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.” The customer is seeking $750,000 in damages and the case is currently pending. The complaint was regarding in-house wrap fees. 

March 2020. “Time Frame: December 2, 2019 to March 18, 2020 What were the allegations against the individual? The client alleges his he told his Financial Advisor that he wanted to be in a defensive position and he was surprised to discover he was not. The alleged damages are estimated to be in excess of $5,000.00.” The case was settled for $290,000. The complaint was regarding exchange-traded funds (ETFs).

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, UBS Financial Services Inc. may be liable for investment or other losses suffered by Alexander Phillips’ customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.