UBS Financial Services Inc. broker Raymond Byers (CRD# 2590926) is accused of unsuitable investment recommendations related to options losses. He has been registered with UBS Financial Services Inc. in Mishawaka, Indiana, since 2009.
Raymond Byers Customer Complaints
He has been the subject of two customer complaints between 2012 and 2023, one of which was denied, according to his CRD report:
July 2023. “Time Frame: March 16, 2020 to August 16, 2022 What were the allegations against the individual? The clients allege unsuitability regarding the put writing scheme recommended by the Financial Advisor. The clients further allege breach of fiduciary duty by making recommendations that the clients did not have the financial ability to fulfill and by making false assurances that the losses were temporary.” The customer is seeking $600,000 in damages and the case is currently pending. The complaint was regarding options investment losses.
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 Raymond Byers’ 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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