Former Financial Advisor Charged for Unsuitable Investment Recommendation

Posted on November 11th, 2015 at 4:09 PM
Former Financial Advisor Charged for Unsuitable Investment Recommendation

From the Desk of Jim Eccleston at Eccleston Law LLC:

Clifford D. Morgan, a former financial advisor and registered representative of Uhlmann Price Securities from 2007 to December 2014, inappropriately referred customers to invest in risky promissory notes.  FINRA alleged that Morgan referred $1.8 million in the promissory notes and that he failed to adequately disclose the risk of the promissory notes and misrepresented the return of the investment.

Brokerage firms like Uhlmann Price Securities have a responsibility to adequately supervise all their reps. Brokerage firms also must take steps to ensure their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

 The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston law, Eccleston Law LLC, james eccleston

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