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UBS Financial Services Inc. Broker Richard Whalen Investment Loss Options

Posted on Monday, March 22nd, 2021 at 6:42 pm    

UBS Financial Services Inc.

There are options for clients of UBS Financial Services Inc. broker Richard Whalen (CRD# 1097944) who suffered investment losses. Whalen has been registered with UBS Financial Services Inc. in Phoenix, Arizona since 2008. 

Whalen has been the subject of one customer complaint in 2021, according to his CRD report:

January 2021. “Time Frame: January 2, 2017 to November 20, 2020 Client’s Counsel alleges the account was invested in unsuitable securities, which were overconcentrated in the energy sector while also material information regarding the nature of the investments was omitted and not provided to the client.” The customer is seeking $492,171 in damages and the case is currently pending. The complaint is regarding managed and wrap accounts. 

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 Whalen’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.