John Carolyn, a broker with UBS Financial Services Inc., has been accused by several clients of overconcentrating their investments in oil and gas securities.
According to his FINRA report, John Carolyn (CRD# 4485799) has been the subject of five customer complaints since June 2016 alleging that Carolyn recommended and sold an overconcentration in energy and oil and gas investments.
Carolyn is currently registered with UBS in Houston, Texas. Four of the customer disputes have been settled and one is currently pending.
Brokers have an obligation to only make investment recommendations that are suitable for their customers. Brokers and brokerage firms must take into consideration investors’ unique needs and ensure that the investments they recommend will be proportionate and appropriate based on the investors’ goals and financial situations.
Investors who believe their broker may have overconcentrated their portfolio or made unsuitable recommendations should contact an experienced legal team to help recover their losses.
The team at Meyer Wilson has helped investors across the country who were victims of overconcentration and unsuitable recommendations at the hands of their stockbrokers. Call Meyer Wilson’s attorneys to evaluate your case today!
