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UBS Financial Advisor, Samuel Rankin, Has Eight Customer Complaints, Including Two That Are Pending

The Wolper Law Firm is currently investigating claims against Samuel Rankin, a Financial Advisor at UBS Financial Services in Charlotte, North Carolina.  Samuel Rankin first entered the securities industry in the 1970s and previously worked for Citigroup.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), as of July 16, 2018, Samuel Rankin has eight (8) reported customer complaints reflected on his BrokerCheck disclosure report.  This is an exceedingly high number of customer complaints against a single Financial Advisor.

https://brokercheck.finra.org/individual/summary/811491#disclosuresSection

Among the complaints filed against Samuel Rankin include the following:

  • September 2017—“Claimants allege that financial advisor misallocated their accounts in overly aggressive investments.” Alleged damages are $849,221 and the matter remains pending.
  • July 2017—“Client alleges their retirement funds were invested in an aggressive risk allocation…” Damages unspecified and this matter remains pending.
  • July 2010—“Claimant alleges…the financial advisor failed to follow the claimants’ instructions.” The matter was settled for $24,999.
  • July 2003—“Unsuitability, overconcentration, misrepresentation, breach of fiduciary duty and breach of contract…” The matter was settled for $42,000.
  • February 2003—“Breach of fiduciary duty, negligence, negligent misrepresentation, breach of contract…” The matter was settled as part of a class action for $17.6 million.

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.

If you or someone you know was a customer of Samuel Rankin and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers 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.  Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]