Meyer Wilson Investigates Broker Matthew Buchsbaum for Multiple Allegations

UBS Financial Broker Accused of Unsuitability and Misrepresentation in Recommending Options Overlay Strategy

UBS Financial Broker Matthew Buchsbaum has been accused of multiple allegations of wrongdoing. He currently has nearly a dozen pending customer disputes. Clients allege that the broker made misrepresentations and engaged in unsuitability when recommending an options overlay strategy. 

At Meyer Wilson, we represent investors who have been harmed as a result of fraud or misconduct. We have recovered hundreds of millions of dollars for clients nationwide. If you invested with Matthew Buchsbaum or in the Yield Enhancement Strategy offered by UBS Financial Services, contact our office at (614) 532-4576 for a free consultation. 

Pending Disputes Against Matthew Buchsbaum

In total, Matthew Stern Buchsbaum (CRD#: 2220565) has 31 disclosures on his BrokerCheck report. 11 of the disclosures involve pending customer disputes with damages requested in the amount of $500,000 to $4,000,000. Nearly all of the customer disputes involve unsuitable recommendations to invest and hold in an options overlay strategy. The strategy resulted in significant investment losses to clients nationwide.

In addition to allegations of unsuitability, the broker is also accused of making material misrepresentations. A class action is currently pending against the broker’s firm, UBS Financial Services. Investors accuse the firm and its representatives of failing to accurately disclose the risks associated with investment in its Yield Enhancement Strategy (YES). 

Customers who invested in the YES options program might be able to obtain compensation through a lawsuit or arbitration and should contact an investment fraud lawyer as soon as possible.  

Settled Disputes Against UBS Broker

A large number of similar disputes have been settled against the broker for amounts ranging from $200,000 to $4,100,000. Again, each of the clients alleges that the broker made unsuitable recommendations to invest in and hold an options overlay strategy.

FINRA Arbitration Awards

Two of the public disclosures on Buchsbaum’s report indicate that the disputes resulted in an award or judgment by the Financial Industry Regulatory Authority (FINRA). A six-figure award was issued in 2021 to clients who sustained losses after investing in the Yield Enhancement Strategy. 

A second award was ordered in 2022, again to clients who had suffered losses after investing in UBS’s YES options program. Compensatory damages in the case exceeded $5,000,000. Clients alleged that the broker and his firm engaged in fraud, misrepresentation, unsuitability, breach of fiduciary duty, negligence, and breach of contract when recommending the highly speculative Yield Enhancement Strategy.

Consult with an Investment Claims Attorney Today

Clients who invested with Matthew Buchsbaum and suffered losses are encouraged to contact our office for a free consultation. Call (614) 532-4576 to discuss your legal options with an experienced attorney.