- April 19, 2020
- Janney Montgomery Scott
Charles Euler (CRD # 202696) was a Financial Advisor at Janney Montgomery Scott in in Radnor, Pennsylvania. Charles Euler has been in the securities industry since 1970 and previously owned his own brokerage firm, Euler & Co.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on April 13, 2020, FINRA sanctioned Charles Euler, barring him from associating with any brokerage firm after he failed to cooperate with its “investigation into whether he made unsuitable recommendations.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2016051156902%20Charles%20J.%20Euler%20CRD%20202696%20AWC%20va.pdf
In addition, Charles Euler has been the subject of seven customer complaint disclosures during his career, alleging sales practice violations. Among the customer complaints include the following:
• June 2018—”Client through his attorney alleges that the Financial Advisor recommended investments that were unsuitable and resulted in over-concentration and losses in his account.” The matter was settled for $45,000.
• January 2017—”Client alleges that her Financial Advisor recommended investments that were unsuitably risky and concentrated which resulted in unbalanced portfolios and losses in her accounts.” The matter was settled for $150,000.
• May 2016—” Attorney for client alleges that the Financial Advisor misrepresented and omitted information about securities purchased in the account, made unsuitable investments and executed unauthorized trades.” The matter was settled for $250,000.
• May 2016—”Attorney for clients alleges that the Financial Advisor misrepresented and omitted information about securities purchased in the account, made unsuitable investments and executed unauthorized trades.” The matter was settled for $350,000.
• April 2016—”Claimants allege that FA made unsuitable investments in their account.” The matter was settled for $40,000.
• March 2016—”CLAIMANTS ALLEGE THAT UNSUITABLE INVESTMENTS WERE MADE IN THEIR ACCOUNTS.” The matter was settled for $75,000.
For a copy of Charles Euler’s CRD, click https://brokercheck.finra.org/individual/summary/202696#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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