888-840-1571

National Investment Fraud Lawyers

¿Perdió en bonos y fondos de Puerto Rico?

Mutual Fund Losses with Former UBS Financial Services Inc. Broker Ricardo Armijo

Posted on Monday, March 15th, 2021 at 10:29 pm    

UBS Financial Services Inc.

Did you lose money investing with former UBS Financial Services Inc. broker Ricardo Armijo (CRD# 2694904)? Armijo has been registered with Raymond James & Associates, Inc. in Birmingham, Michigan since 2019. Previously, Armijo was registered with UBS Financial Services Inc. in Birmingham, Michigan from 2009 to 2019.

Armijo has been the subject of three customer complaints between 2019 and 2020, according to his CRD report:

November 2020. “Time Frame: January 09, 2012 to December 27, 2018 The client’s Attorney alleges irregularities in regards to not disclosing the fees on C shares.” The customer sought $50,000 in damages and the case was settled for $25,000. The complaint was regarding mutual funds and took place while Armijo was registered with UBS Financial Services Inc. 

December 2019. “The client alleges unauthorized trades and that the Financial Advisor never disclosed C shares fees. Allegation dates: August 5, 2019 to September 5, 2019.” The customer sought $256,000 in damages and the case was settled for $225,000. The complaint was regarding mutual funds and took place while Armijo was registered with UBS Financial Services Inc. 

September 2019. “Time Frame: January 9, 2012 to December 27, 2018 The client alleges unauthorized trades and that the Financial Advisor never disclosed C shares fees. The alleged damages are estimated to be in excess of $5,000.00.” The case was settled for $40,000. The complaint was regarding mutual funds and took place while Armijo was registered with UBS Financial Services Inc. 

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 Armijo’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If 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.