CFP Board Lifts Interim Suspension of Former UBS Advisor

Posted on September 23rd, 2022 at 1:30 PM
CFP Board Lifts Interim Suspension of Former UBS Advisor

From the Desk of Jim Eccleston at Eccleston Law.

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

New Jersey state officials had charged Joseph Whitney in January 2021 with a first-degree conspiracy charge related to his role in an alleged scheme that included his wife, Melanie, and several other individuals. The CFP Board subsequently imposed its interim suspension order in March 2021. In addition to UBS, Whitney had been employed by Morgan Stanley and Wedbrush Securities, where he worked until February 2021, according to BrokerCheck.

According to the original charges, Joseph Whitney’s wife, Melanie, allegedly overstated her professional real estate experience and misappropriated at least $75,000 from two investors via fraudulent real estate deals. Prosecutors further alleged that she siphoned the funds into bank accounts controlled by co-conspirators. However, New Jersey prosecutors dropped the criminal charges against Joseph Whitney in March, which prompted the CFP Board Counsel to left the interim suspension last month.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors, ubs, cfp

Return to Archive

TESTIMONIALS

Previous
Next

I am so blessed to have you and your dynamic team defending me. Your ethics, forward thinking and strategies are amazing.  You guys are the best group of attorneys in the country that I could hire to handle this complicated case.

Cindy C.

LATEST NEWS AND ARTICLES

October 14, 2025
Morgan Stanley's Termination of Financial Advisor Highlights Scrutiny Over U-5 Filings

Morgan Stanley recently terminated a 25-year industry veteran in Miami, underscoring the heightened scrutiny surrounding U-5 filings and the challenges that accompany them.

October 13, 2025
Morgan Stanley Cuts Advisor Deferrals in 2026 Compensation Plan, Boosting Advisor Payouts

Morgan Stanley Wealth Management announced a significant change to its 2026 compensation plan, cutting advisor deferral rates by half while keeping total pay and grid structures largely unchanged.

October 10, 2025
Former Two Sigma Quant Researcher Faces Fraud Charges Over Manipulated Models

Federal prosecutors and the Securities and Exchange Commission (SEC) have filed parallel actions against Jian Wu, a former quantitative researcher at Two Sigma Investments, alleging he secretly manipulated algorithmic trading models to boost his own compensation by millions of dollars.