$41 Million Investor Dispute: The Case of Evan Troop and Unsuitable Investments
Broker Evan Troop (CRD #: 6359623), affiliated with J.P. Morgan Securities finds himself at the center of a large investor dispute, where a customer has claimed that unsuitable investment recommendation has led to a claim of $41 million in damages, as reported on his BrokerCheck record.
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Evan Troop: Facing a $41 Million Allegation
An investor, on February 12, 2023, lodged a complaint against Troop, alleging that his advice on an investment vastly contradicted the client’s financial needs and aspirations, leading to a damage claim of $41,731,694.75.
Deciphering Unsuitable Investments
Under FINRA Rule 2111, it is essential for brokers to ensure the appropriateness of their investment recommendations based on the unique financial objectives and circumstances of the investor. In the case of Evan Troop, the allegations are that as the broker Troop failed to include and consider the investor profile in their placements. These are the key elements of the investor’s profile to be considered include:
- Age
- Risk tolerance
- Time horizon
- Investing experience
- Tax status
- Financial goals
Victims of unsuitable investment advice may have a pathway to recover their losses via FINRA arbitration, contingent upon proving the incongruence of the advice with their investor profile. For victims of Evan Troop, this is likely their only means of potential recovery.
Our lawyers are nationwide leaders in investment fraud cases.
Seeking Guidance? Meyer Wilson Is Here for You
If you have grievances concerning your interactions with Evan Troop or general investment concerns, Meyer Wilson urges you to reach out without delay. Contact us via 866-938-2021 or visit investorclaims.com for a free consultation.
For nearly two decades, Meyer Wilson has been at the forefront, aiding investors in reclaiming their losses from brokers and brokerage firms. Our firm is lauded nationwide for its investor-centric representation on a contingency basis—our legal fees are directly tied to our ability to recover funds for our clients. Begin your journey to rectify your losses and have your voice heard with Meyer Wilson today.
Written By: Courtney Werning
Recovering Losses Caused by Investment Misconduct.