Curtis Wilson (CRD #: 1517272), a former Securities America broker based in Tulsa, Oklahoma, is facing a customer complaint about alleged misconduct relating to an options trading strategy implemented by Wilson. Wilson has settled previous customer disputes as well. By exploring this situation and Curtis Wilson’s history, we aim to inform investors about their investment rights and how to address broker misconduct effectively.
An Overview of Curtis Wilson’s History with Securities America in Oklahoma
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Background on Curtis Wilson
Curtis Wilson served as a registered broker formerly affiliated with Securities America, Inc., located in Tulsa, Oklahoma. During his career, he worked for Merrill Lynch, LPL Financial, and Geneos Wealth Management. His association with Securities America was marked by three customer disputes. This raises concerns about his practices and the oversight provided by his employers.
Customer Complaints and Allegations
Curtis Wilson has been involved in multiple customer complaints. Most recently, a complaint was filed against CreativeOne Wealth regarding Wilson’s alleged misconduct. This complaint, which is still pending resolution, includes allegations that he traded S&P 500 put options in a client’s advisory account. The issues raised in this most recent complaint range from unsuitable investment strategies regarding options trading to unauthorized transactions, indicating a pattern of alleged impropriety and financial advisor complaints in Wilson’s professional conduct. This claim seeks $761,000 in damages, a staggering amount that shows how large of an impact these allegations have on investors. A few of his other complaints include:
March 2, 2023: Curtis Wilson was accused of using an option-based trading strategy that was unsuitable with risks that were undisclosed to the customer. This case sought $484,905.26 in damages and settled.
October 8, 2020: Curtis Wilson was accused of failing to execute trades in a timely manner. The damages sought were $25,000, which is also what the case settled for.
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Examining the Impact of Curtis Wilson’s Alleged Misconduct on Investors
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Option Trading Strategy Allegations
A central allegation against Curtis Wilson involves his use of option-based trading strategies that were reportedly unsuitable for his clients. Options trading is a complex and high-risk investment area that entails significant risks and requires a comprehensive understanding of market dynamics and risk management. Options are contracts granting investors the right, but not the obligation, to buy or sell an asset at a predetermined price within a specific time frame.
While they can be used to hedge risk, they can also be highly speculative. It is alleged that Wilson implemented these strategies without adequately disclosing the associated risks to his clients. For instance, imagine a retiree seeking stable income, but their broker allocates a significant portion of their savings into complex options strategies without proper explanation. If the market moves against these positions, the retiree could suffer losses that jeopardize their financial security. This scenario serves as a vivid reminder that investment advisory strategies must be suitable for each investor, depending on their financial goals, risk tolerance, and understanding of the financial instrument.
Recovery Options Through Meyer Wilson
The main way that investors can seek recovery from a situation such as this is to speak with experienced securities attorneys, such as those at Meyer Wilson. Meyer Wilson specializes in representing investors who have suffered financial losses due to broker misconduct or negligence. Through arbitration and litigation, they help clients present evidence of unsuitable investments, misrepresentation, or excessive trading, ensuring claims are handled efficiently outside of court.
With extensive experience in securities fraud cases, Meyer Wilson can also assist in pursuing legal actions against firms, such as CreativeOne Wealth, for supervisory failures that result in investor harm. From documentation to representation, Meyer Wilson guides clients through every step of the arbitration process.
If you have experienced significant investment losses due to a financial advisor’s actions or have concerns about past transactions, our team is here to provide the guidance you need to secure your financial well-being.
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