- April 19, 2022
- UBS Financial Services, Inc.
Edward Lubell (CRD#: 2449026) is a dually registered Broker and Investment Advisor at UBS Financial Services, Inc., in West Palm Beach, FL.
He entered the securities industry in 1994 and previously worked for Deutsche Bank Securities, Inc.; DB Alex Brown, LLC; and Alex Brown & Sons, Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in February 2022, a customer dispute was filed against Edward Lubell, alleging “UBS recommended unsuitable and esoteric structured products and notes without adequate warnings and details.” Damages of $99,000 are requested, and the customer dispute is pending.
In addition, Edward Lubell has been the subject of four customer complaints, including the following:
- September 2018 — “Time Frame: November 8, 2017 to September 18, 2018 The client alleges his Financial Advisors placed him in Structured Products without a conversation explaining the characteristics of the investments and confirming the long term investment objective and potential liquidity requirements. The client further alleges concentration risk by being in over 24 mutual funds. The alleged damages are estimated to be in excess of $5,000.00.” The customer dispute was denied.
- February 2008 — “CLIENT ALLEGES THAT THE INVESTMENT WAS SOLD AS A RISK-FREE, MONEY-MARKET ALTERNATIVE AND NOT ALL THE FACTS PERTAINING TO THESE INVESTMENTS WERE DISCLOSED TO THEM. CLIENT FURTHER STATES THEY SHOULD NOT HAVE BEEN PUT INTO THESE TYPES OF INVESTMENTS. TIME FRAME, 2008. THE FIRM CANNOT MAKE GOOD FAITH DETERMINATION THAT THE DAMAGES FROM THE ALLEGED CONDUCT WOULD BE LESS THAN $5,000.” The customer dispute was settled for $1M.
- June 2002 — “CLIENTS ALLEGE POOR PERFORMANCE, EXCESSIVE TRADING, FAILURE TO FOLLOW INSTRUCTIONS AND BREACH OF FIDUCIARY DUTY.” The customer dispute was denied.
- September 1998 — “THE CLIENT STATES THAT THE INVESTMENT REPRESENTATIVE, EMPLOYED AT BT ALEX. BROWN INCORPORATED, ADVISED HIM THAT AN OPTION HEDGE WAS THE BEST WAY TO ENSURE AGAINST A MAJOR DROP IN PRICE OF VINCAM STOCK AND SUBSEQUENTLY RECOMMENDED REMOVING THE HEDGE WITHOUT REGARD TO HIS FINANCIAL POSITION AND RISK TOLERANCE. THE CLIENT ALLEGES THAT BY UNDOING THE HEDGE HE LOST OVER ONE MILLION DOLLARS.” The customer dispute was denied.
For a copy of Edward Lubell’s FINRA BrokerCheck, click here.
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Alternative investments are not regulated by the U.S. Securities and Exchange Commission (SEC), and are often subject to fraud and other schemes. Examples include commodities, hedge funds, real estate, derivatives contracts, private equity, managed futures, and venture capital. They are not typically regulated by the SEC, nor are they usually liquid or easy to value, which makes them risky investments. In addition, alternative investments are often open only to accredited investors with an income of $200,000 or more or a net worth in excess of $1M; they also require high up-front minimums. When these opportunities are opened to non-accredited investors, it may be because of unsuitability, fraud, selling away or misrepresentation, and the investor may incur losses.
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