Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 3, 2017 indicate that New York-based UBS Financial Services broker/adviser Christine Abbott has been named in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. Abbott (CRD# 5241462).
Christine Abbott has spent ten years in the securities industry and has been registered with UBS Financial Services in New York, New York since 2006. She has no previous registrations. She has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination) and Series 7 (General Securities Representative Examination). She is a registered broker and investment adviser with 24 US states and territories.
According to her BrokerCheck report, Christine Abbott has received one pending customer complaint.
In February 2017 a customer alleged Christine Abbott, while employed at UBS Financial Services, recommended unsuitable investments in structured notes and equities, misrepresented material facts, and over-concentrated the account/s. The customer is seeking $1,988,000 in damages in the pending complaint.
Concentration (or “over-concentration”) denotes to a broker’s failure to diversify a client’s portfolio among a variety of assets. For instance, a broker may believe one asset will outperform others, and focuses the investment in that asset or asset class. Or a broker might invest chiefly in a series of related investments, like municipal bonds in the same region. Given that similar classes often perform similarly, if one investment performs poorly, the others might as well. Brokers who fail to diversify their customers’ investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has a complaint regarding Christine Abbott, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.