Former UBS Financial Services Inc. broker Paul Murans (CRD# 3266607) has three pending customer complaints for investment losses.
He has been registered with Thurston Springer Financial in Indianapolis, Indiana, since October 2017. Previously, he was registered with UBS Financial Services Inc. in Indianapolis, Indiana from 2011 to 2017, when he was terminated regarding, “FA discharged for facilitating client purchases of life-settlement products not listed on firm platform, failing to escalate a client complaint and responding to the complaint without managerial approval, and failing to disclose a client’s subsequent investment in an outside passive investment which had been previously approved for investment by the FA, in violation of firm policies and industry rules.”
He was previously registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Indianapolis, Indiana, from 2003 to 2011, when he was terminated regarding “conduct relating to alleged participation in outside investments and/or activities without the knowledge or approval of Merrill Lynch.”
In March 2025, the Financial Industry Regulatory Authority opened an investigation, alleging that he “made unsuitable recommendations to the client over the course of their association, specifically mentioning “options” trading. For example, the filing states that RR was making “risky” recommendations, when it appears the RR was doing covered call writing, overall lowing the risk of the investment portfolio.”
Paul Murans Customer Complaints
He has been the subject of seven customer complaints between 2016 and 2025, according to his CRD report:
March 2025. “This is an arbitration case, unrelated to any previous complaint. Client is alleging RR made unsuitable recommendations to the client over the course of their association, specifically mentioning “options” trading. For example, the filing states that RR was making “risky” recommendations, when it appears the RR was doing covered call writing, overall lowing the risk of the investment portfolio.” The case is currently pending. The complaint was regarding options losses, and the complaint took place while he was registered with Thurston Springer Financial.
April 2024. “Time frame: 2012- 2023 Allegations: Claimants allege that their Financial Advisor recommended for purchase a Senior Life Settlement Portfolio that was neither an approved investment sold through UBS nor suitable for the clients.” The case is currently pending.
November 2022. “Time frame: 2014-Present Allegations: Claimant alleges UBS FA misrepresented life settlement insurance product as safe short term opportunity, and the policies lapsed, alleging causing Claimant monetary losses.” The customer sought $242,995 in damages, and the case was settled for $90,000.
August 2019. “Unsuitable investments, unauthorized credit line agreement, unauthorized trades, uninvested funds, lost market opportunity and selling away in life settlement contracts.” The customer sought $500,000 in damages, and the case was settled for $300,000. The complaint was regarding selling away. The complaint was regarding selling away and a line of credit.
November 2018. “UBS states the complaint per below, but these details cannot be verified against the complaint, as the complaint has not been supplied to Thurston Springer, despite requests from Representative Murans and Thurston Springer. “Time Frame: December 2, 2013 to October 20, 2017. The client alleges the life settlement contract was misrepresented and unsuitable. The client further alleges unauthorized trading of structured products. The client finally alleges she had no idea she was borrowing from her loan account.” The case was settled for $250,000.
March 2018. “Time frame: December 2012-October 2017 Allegations: Claimants, an owner of a business that raises money for medical device companies, and his wife, complain about overconcentration in SPXU and TWM, leveraged ETFs, and allege that these securities were unsuitable in light of their objectives. They also complain about overconcentration in risky energy-related investments, and they allege that these were also unsuitable. Claimants also allege that UBS failed to adequately supervise the FA with respect to Claimants’ accounts.” The customer sought $700,000 in damages and the case was settled for $355,000. This case was regarding Leveraged short Exchange Traded Funds (ETFs), Over the Counter (OTC) Equities and Unit Investment Trusts (UITs).
August 2016. “Time Frame: 2011 to July 2016 Claimant’s Counsel alleges that recommendations were made that were unsuitable in light of client’s investment objectives and risk tolerances.” The customer sought $250,000 in damages and the case was settled for $75,000. The complaint was regarding stocks and closed-end funds.
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 Paul Murans’ 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.
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