- May 24, 2022
- Wynston Hill Capital
Ian Lowrey (CRD#: 6367392) is a previously registered Broker.
He entered the securities industry in 2014 and previously worked for Wynston Hill Capital, LLC; Spartan Capital Securities, LLC; Joseph Gunnar & Co., LLC; Garden State Securities, Inc.; Woodstock Financial Group, Inc.; Arjent, LLC; Blackbook Capital, LLC; and Dawson James Securities, 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 May 2022, FINRA sanctioned Ian Lowrey with a civil and administrative penalty/fine of $5,000, restitution of $48,116, and suspension from all capacities for three months beginning May 16, 2022 and ending August 15, 2022. The FINRA sanction states, “Without admitting or denying the findings, Lowrey consented to the sanctions and to the entry of findings that he excessively traded two customers’ accounts. The findings stated that Lowrey recommended high frequency trading in the customers’ accounts. Lowrey’s customers routinely followed his recommendations and, as a result, Lowrey exercised de facto control over the customers’ accounts. Lowrey’s trading resulted in high turnover rates and cost-to-equity ratios as well as significant losses. Lowrey’s trading in these customers’ accounts was excessive and unsuitable given their investment profiles. As a result of Lowrey’s excessive trading, the customers suffered collective realized losses of $103,253 while paying total trading costs of $55,036, including commissions of $48,116.”
For a copy of the FINRA sanction, click here.
For a copy of Ian Lowrey’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Excessive trading often occurs when a Financial Advisor puts his or her interests ahead of the clients and makes transactions solely for the purpose of generating commissions. Financial Advisors have a regulatory duty to recommend suitable investment strategies. One of the components of the suitability analysis is quantitative suitability.
Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation. 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.
The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at firstname.lastname@example.org.