Did You Lose Money in the Energy Sector with Janney Montgomery Scott LLC Financial Advisor Christopher Sinkula?
Posted on Saturday, October 14th, 2017 at 7:44 am
Erez Law is currently investigating Janney Montgomery Scott LLC financial advisor Christopher Sinkula (CRD# 2001512) regarding overconcentration of investments in the high risk energy sector. Sinkula has been registered with Janney Montgomery Scott LLC in Stuart, Florida since 2008.
Sinkula has been the subject of seven customer complaints between 1997 and 2017, three of which were denied and one was closed without action, according to his CRD report:
July 2017. “Claimant alleges that FA made unsuitable investments in her account by creating a high concentration in energy stocks.” The customer is seeking $100,000 in damages and the case is currently pending.
April 2012. “Client alleges that his financial advisor misrepresented and failed to adequately understand the risks and features associated with a variable annuity product sold to claimant.” The customer sought $879,680 in damages and the case was settled for $200,000.
April 1997. “Unsuitable recommendations: alleged loss is thought to be in excess of $15,000.” The customer sought $67,540.52 in damages and the case was settled for $46,000.
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, Janney Montgomery Scott LLC may be liable for investment or other losses suffered by Sinkula’s customers.
Erez Law represents investors in the United States for claims against Janney Montgomery Scott LLC financial advisor Christopher Sinkula, who is alleged to overconcentrate investments in the high risk energy sector. If you were a client of Janney Montgomery Scott LLC or another firm, and 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.