National investment loss lawyers KlaymanToskes is investigating broker Baris “Barry” Cabalar (CRD# 4749342) of PHX Financial.
According to FINRA BrokerCheck, financial advisor Barry Cabalar is involved in a civil complaint by the Securities and Exchange Commission (“SEC”) for allegedly recommending a costly, high-volume trading strategy, resulting in significant customer losses exceeding $1 million in collective damages.
Investors that suffered losses with broker Barry Cabalar are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Baris “Barry” Cabalar, of PHX Financial, is currently facing a civil complaint initiated by the Securities and Exchange Commission (“SEC”), alleging that he recommended to eight retail customers in their PHX brokerage accounts a short-term, high-volume trading strategy without a reasonable basis that such a strategy would be profitable. Further, the SEC’s complaint alleges that Cabalar failed to disclose when recommending such trading to customers that the commissions and fees that PHX and Cabalar charged would likely result in the customers losing money. The SEC’s findings disclose that Cabalar consistently solicited customers to trade frequently as part of his short-term, high-volume trading strategy, which caused the affected customers to lose over $1,000,000 in collective damages. According to FINRA BrokerCheck, broker Barry Cabalar is employed as a broker with PHX Financial in Fort Lauderdale, FL.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Barry Cabalar, or have concerns regarding your investment portfolio at PHX Financial, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.